What is ChexSystems

ChexSystems (SM), previously registered to "Chex Systems, Inc", is a deposit account verification service provider and a consumer credit reporting agency. It provides information regarding account mishandling to its members (financial institutions) when someone applies for a new account.

If any of your account was previously closed by a bank for check overdrafts, unsatisfied balances, depositing fraudulent checks or suspicious account handling, ChexSystems will store and will send the information to the members. The report stays there at ChexSystems for five years.