I became interested in ChexSystems a few years ago when a friend became entangled in the ChexSystems web. ChexSystems is a credit reporting agency that reports mishaps with a bank to other banks.  After becoming listed in ChexSystems it can take up to five years for the listing to be removed.

I am sure ChexSystems protects banks from fraud however ChexSystems at times prevents folks from being able to open a bank account that make a banking error like leaving a bank account overdrawn for a period of time. Even worse a bank can close an account that is in good standing when a different account at a different bank has been defaulted on and reported to ChexSystems!

In the case of my friend she deposited a large check in to her bank account. The check came back non sufficient funds and my friend did not have available cash to cover the overdraft. The bank closed the account and reported the action to ChexSystems. My friend eventually paid the bank back in full but she was still listed on ChexSystems.

Her paycheck had been direct deposited for years. Once her bank found out about the overdraft they closed her account. It was very embarrassing for her to go to Human Resources at her job and change over to paper checks.

After some searching I found that certain banks offer deposit accounts with a debit card that allow you to direct deposit your payroll or income check and use the debit card to draw the funds and pay bills

 I now feature a debit card that allows direct deposit to a real bank account with no credit check, guaranteed approval, no upfront fee,  free direct deposit and you can shop and pay bills online. The debit card is convenient for shopping and money management and if you consider the gas to drive to a check cashing place the time and energy to do so and the check cashing fees this card is a real money saver! Did I mention you can pay bills like utilities, phone, gas and electric online?

This card is not a credit card but it does offer a feature that will allow you to build credit and it reports to a credit bureau! I myself have been through the credit card lifestyle of living beyond my means. I love having a debit card, I spend what I have and that's it! Also, there are no overdraft fees! I am proud to offer this card on my page www.BadCreditInfo.com/chexsystems.htm

I publish a website that offers practical solutions for consumer credit issues since May 2000. BadCreditInfo.com

ChexSystems Info Blog   nochexsystems.blogspot.com