updating lists!

It is that time of year again when I begin to update my lists of banks and credit unions that do not use chexsystems and those that are chex-friendly. Hopefully 2010 will be a good year and not too many will have to be removed from my lists. And hopefully we will be able to find some new ones out there especially in those hard areas where options are so limited.

So far the best news was that I had found 2 new ones in MA that do not use chexsystems. MA is such a hard area and always has been. People reported to chexsystems really struggle in this state.

So far I have updated the following states: NH, RI, AK, and HI. I am currently working on NJ.

Peoples Cash Solutions

Peoples Bank has been offering personal checking accounts for many years now to those that are reported to chexsystems, telecheck, and regardless of credit history.

Peoples Cash Solutions has an account that will approve anyone regardless of where you live but there are some guidelines that you must meet. The second chance checking account is a basic/regular checking account. -this application must be mailed in ONLY, it can not be faxed.

Many people have been denied due to " fraud or suspected fraud" being indicated on their chexsystems report. If you have been reported to chexsystems, it is important to get a FREE copy of your report before you can tell what options are best for you. Many people end up going to a bank such as Peoples Bank or using a pre-paid card when there may be a better and more local option for them. Be sure to find out which bank may be the best option for you by getting my list at ChexSystemsVictims

PEOPLES BANK DOES NOT PARTICIPATE IN DEPOSIT SHARING) All deposits must be mailed in

Winners of the ChexVictims Holiday Contest

Congratulations for winning the ChexVictims contest. Shinet and Cass !!!

You have won a gift box from Old Friends Retirement and Rescue for Thoroughbreds. I chose Old Friends because although horse slaughter is illegal in the United States, NO horse is safe from slaughter including race horses when their racing and breeding careers end. Horses are still being crowded into trucks, enduring long hours without food, water and rest, sometimes 24-36 hours and driven to Mexico and Canada for slaughter. Crammed onto crowded trailers with no regard for age, sex breed, condition or temperament.

It is not uncommon for these animals to arrive at the plants dead or seriously injured. Many times, mares that are pregnant give birth and the foals are killed trying to stand and nurse. It has been reported that foal are sometimes cut from the mothers and thrown into the trash at the slaughter houses in Mexico. I believe it is wrong to slaughter horses. These are loyal athletes who have given so much and deserve to have a dignified retirement. For this reason, I decided to give away 2 gift boxes from Old Friends as a small way to help the horses. I do donate to Old Friends as much as I can. They need our help! Old Friends is one of my favorite rescues. The work that they do there can not be compared.

They currently support over 80 horses there and have opened a new facility in New York called Cabin Creek. Cabin Creek, a 40-acre farm just outside Saratoga Springs, N.Y., and will begin receiving horses immediately.


They are one of the only thoroughbred rescue / retirement facilities that accepts stallions.

“Without them, there’s nothing, There is none of this bluegrass, no horse business, no racing, no jockeys, there’s nothing. There’s no feed people or veterinarians or anything. It’s all because of them that everybody’s here. And at the end of the day, we can’t just treat them like trash and throw them to side of the road.” Michael Blowen


They will get to choose one of the gift boxes on this page http://www.oldfriendsequine.org/help-baskets.shtml (up to a $65.00 value)

Thank you for being a part of the ChexVictims community and being a loyal member there.
Mary (mca)

USAA is back to approving those reported to Chex

Well so far USAA has opened membership back up. For many years they were open to just anyone but later they stopped and only took those with military affiliation. Now they are back to approving anyone. They are not limiting to military only.

USAA does not use chexsystems at all. They do however use Telecheck and EWS. If you have been reported to Telecheck or EWS, they will deny you. If you have only been reported to chexsystems, this is an excellent option for you.

ChexSystems & Fraud

Do you feel like you have already been to trial and found guilty? Chexsystems allows the vague "FRAUD" "NSF" and "ABUSE" flags because they are harder to dispute and remove. There are no clear standards for what is considered NSF, Fraud or ABUSE. Fraud can mean anything that a bank wants it to. Seem unfair? Of Course it is.

What proof do they have to flag an account FRAUD, NSF or ABUSE? They can not prove intent to fraud or abuse of the bank. Most people dispute based on these vague indicators. A growing number of banks are now blaming customers for bad checks and closing their accounts, reporting them to chexsystems and worse, reporting them for "suspected fraud or fraud"Never accept checks from individuals you do not know. If there is not an established business or personal relationship, you are taking a huge risk.

Legally, the account owner is bound by the agreement that was signed when the account was opened. Most standard agreements indicate the primary account holder is responsible for deposits and will maintain the account in a positive status.

If fraud is indicated on your report, it should always be disputed.

-Everyone has the right to dispute with Chexsystems. For help and free sample letters, go to my web site for ChexSystemsDisputes

-Many banks and credit unions are also now reporting to Early Warning Services (EWS) For help with EWS, Go Here

Once on chexsystems, your name will remain on file for 5 years unless you file a dispute and there is no guarantee to be removed even with dispute. Paying the bank will NOT remove you from chexsystems. Many people believe and are even told it will but it will NOT.

Here are some examples I have seen reported as "fraud" with different banks:

1) Elderly person falls victim to a pigeon drop scheme and deposits a phony money order in her account for $5,000. This individual is 84 and has maintained the account in good standing for over 25 years without a single overdraft. Her account is closed and she is reported to Chexsystems for "fraud", causing her monthly Social Security payment to be returned. What was aggravating is that she also had an investment account at the bank with over $11,000 in it.

2) An employment dispute caused the account holder's employer to issue a stop payment on a payroll check, resulting in over $400 of NSF charges. The account is closed and reported to Chexsystems as fraud.

3) Small auto dealer sells a car, depositing a cashier's check for $6500. At the time of the deposit, he asks for $1000 back in cash. The dealer has owned the business for 22 years, and keeps a large average balance in the account. Because the cashier's check was a forgery, he is arrested on the spot, the account is closed and reported to Chexsystems for fraud.

4) A person accepts a personal check from a friend that owes her money. The check is returned as NSF. The bank closes the account and reports her to chexsystems for fraud. If you have been reported to Chexsystems for fraud, but you did not commit an illegal act, then I say make them prove and justify it. It was later determined that these individuals were victims themselves and no charges were filed. In the case of the stop payment, the individual has hired an attorney. The employer may have violated state law for refusing sales commission payments. All four are still trying to get the fraud entries removed from Chexsystems.

Get Checking Terminated

Up until late 2008, ChexSystems allowed people with poor ChexSystems records to take a class through a program called Get Checking. The program has now been terminated. The termination of this program makes it even more difficult for people with negative items on their ChexSystems consumer reports to get decent bank accounts. It has been reported that there are several banks that are participating in a new program.

http://www.getchecking.info/

Bank Of America CEO Ken Lewis pays back 1 million dollars

Bank of America Corp.'s outgoing CEO, Ken Lewis, will get no salary or bonus for 2009 under an agreement with the government pay czar, who is scrutinizing compensation at bailed-out banks.

Lewis was first hired as a credit analyst in 1969 at North Carolina National Bank, in Charlotte, N.C. That bank was a predecessor of NationsBank and later Bank of America. He moved through various positions until he was named CEO of Bank of America in April 2001. He was stripped of the chairman title earlier this year. BofA had no successor in place, leading many to think that his quick exit had surprised the board. It said a replacement would be chosen before Lewis leaves.

Kenneth Feinberg, the U.S. Treasury Department's special master for compensation, suggested that Lewis should get no pay for the year and Lewis agreed, Bank of America spokesman Robert Stickler said Thursday. In fact, Lewis will pay back about $1 million he has received so far out of a $1.5 million annual salary. "He will write a check to the company," Stickler said.

The bank spokesman also added that Lewis agreed to the proposal because he felt it was not in the bank's best interest "to get into a dispute with the paymaster."

Wall Street has been eagerly awaiting Feinberg's decisions about pay for 75 of the highest-earning executives at seven firms that got the most taxpayer money. Other companies under Feinberg's scrutiny include American International Group Inc., General Motors, Chrysler and Chrysler Financial.

Lewis, who is 62, hastily announced last month that he will step down as CEO by Dec. 31, which will cap off a tumultuous year when BofA has faced accusations it misled shareholders about its acquisition of the investment bank Merrill Lynch & Co. The Merrill deal is being investigated by both the Securities and Exchange Commission and New York Attorney General Andrew Cuomo. Cuomo's office is trying to determine whether BofA misled shareholders about $3.6 billion in bonuses paid to Merrill employees and the investment bank's mortgage lending losses, as well as whether BofA failed to tell shareholders that it considered backing out of the deal before it closed on Jan. 1.

More and more banks have started using EWS.

Recently it seems that more and more people are indicating to me that they are being denied accounts due to Early Warning Services (EWS) and not chexsystems. It is still unclear if Bank of America, BB&T Corporation, JPMorgan Chase, Wachovia, and Wells Fargo are going to stop using chexsystems all together or not. Early Warning Services is a limited liability company owned by Bank of America, BB&T Corporation, JPMorgan Chase, Wachovia, and Wells Fargo.

The one thing that does seem clear to me is that any bank or credit unions that uses EWS, will not make an exception for those that have been reported. If you have been reported to EWS and you are able to open an account at a bank or credit union that uses EWS, you can be sure that the account will close in a short time.

Banks and credit unions that have been known to let some people that were reported to chexsystems open accounts because the report was what they had considered to be "not so bad", will not make these same exceptions when it pertains to EWS. We have had some from our forum that were able to dispute with EWS and be removed.

Great News for those in MN and ND

With options being very limited in MN and ND, it was great news when I learned that Gate City Bank is no longer using chexsystems. Right now anyone living in either state can a personal or business account. Be sure to check to see if there are other options on my list that may help you as well if Gate City is not local to you.

Email from person that got an account:
Your information and forums were invaluable! I have an unresolved issue from last year with TCF Bank in MN. As my credit is also bad because of late payments arising from unemployment, I did not think I could open an account.

After reading your Minnesota information, I opened both a Fidelity SmartCash account and an account with Gate City Bank in Minnesota. Both were opened online, with originating deposit made through mail or ACH. Even though Gate City is not in my area, it is in-state, so mail deposits will take 1 day to arrive. In addition, Gate City refunds all ATM fees. They are only in North Dakota and NW Minnesota, but have Internet interest checking available without Chex or credit check.

Many banks replace Chexsystems with EWS

What can be worse than chexsystems? Early Warning Services (EWS) is a growing credit reporting agency that banks are starting to switch to. Some banks like USAA Bank who never used chexsystems at all, are also now using EWS. EWS also signed a multi-year contract with eFunds Corp (chexsystems) in April 2007. Because of this many that are reported to chexsystems will also be reported to EWS. So far it seems that if a bank or credit union uses EWS, they will not make any exception for those that have been reported. These banks and credit unions include some popular ones such as Fifth Third Bank, Regions Bank, Bank of America, Wells Fargo, Washington Mutual, BB&T, Arizona Federal Credit Union, Compass Bank, Chase and there are many others. In my opinion, if you have been reported to EWS, don't bother applying to a bank that uses it. Chances are the account will be closed even if it is opened at all.

Those wishing to obtain consumer report information should contact their Consumer Call Center at 800-325-7775. When you request a report from chexsystems, ews, or telecheck, avoid giving them any information that is not absolutely necessary. For example: if they ask where you work and for the address, phone etc,. I would not give them the number. Tell them you are currently unemployed. If they ask for current checking account information, simply say you have none. Do not volunteer any information