BANKING RESOLUTIONS SERVICES

Banks and financial institutions rely on Consumer Reporting Agencies like ChexSystems, Early Warning Services, and TeleCheck to assess the potential risk of new bank account customers. If your name and personal information have been reported to these agencies, you may find it challenging to open a new bank account.

 

Your personal information can remain on file with these agencies for up to 5 years unless you take action to have it cleared.

 

Financial institutions lose billions of dollars annually due to bad checks, account abuse, and fraud. As a result, they increasingly depend on Consumer Reporting Agencies to evaluate the risk posed by potential customers. However, the final decision to open a new account rests with the bank.

 

If your bank account has been closed, or if you’ve been denied the opportunity to open a new one, this can lead to significant inconveniences: 

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• Where can I cash my paycheck?

• How will I pay my bills?

• What if my job requires direct deposit?

• I can’t start my new business without a business checking account.