avoid chexystems

1. Always, Always Pay Your Bank What You Owe Them

The single biggest way to stay off the ChexSystems list is to keep current with your bank. Never get behind on what you owe them. If you overdraw your account once or twice, make sure to deposit enough money to pay the NSF fees (plus the amount overdrawn). If you never use an account, still make sure to check your statement and make sure there is enough money in the account to cover any monthly fees. Never, ever get behind in what you owe to your bank -- its the fastest way to get on the ChexSystems list.

2. Don't give your account number and bank routing information to anyone you don't know.

Give out your account information for transactions only if you are familiar with the company you are dealing with. And if you have not done business with a company before, give out account information only if you have initiated the transaction. Criminals may ask you for your bank account number and then withdraw money from your account by creating a demand draft (sometimes called a "remotely created check") or making an electronic transfer. They may also ask for your debit or credit card number and other personal information. Don't fall for these scams. They can lead to your account being overdrawn or used for abusive activities, and can be a quick way to end up on the ChexSystems list.

3. Review your monthly statement.

Make sure all the checks, debits, automatic payments, and other withdrawals are ones you authorized. If you see a transaction you did not authorize, notify your bank immediately. If your bank has online banking, you don't have to wait until your bank statement comes--you can check your transactions at any time. By reviewing your monthly statement, you can avoid any surprises or errors that could end you up on the ChexSystems list. Also, by reviewing your monthly statement, you can carefully monitor your balance and make sure you are not overdrawn.

4. Notify your bank about any problems as soon as possible.

Many ChexSystems problems start with an error. The sooner you alert your bank to a problem, the sooner they can get it resolved. In some cases, your bank may require you to notify them in writing. Keep copies of any documents you give the bank until the problem is resolved. If you think the problem is a result of fraud, you should also contact your state attorney general.

5. If you don't have enough money in your account, don't write the check or authorize the debit.

Most people end up on ChexSystems for having too many bounced checks. It's simple -- avoid bouncing a check at all costs. Checks are being processed more quickly these days, which means the money may be debited from your account sooner. Also, many stores and utility, insurance, and credit card companies will convert your check to an electronic payment, which also means the money will be debited from your account sooner. If you don't have enough money in your account when you write a check or authorize a debit, you could find yourself paying a fee.