No. of Recommendations: 0
A few folks have reported being refused accounts with OLBs because of derogatory information from Chex Systems. Apparently Chex Systems won't disclose exactly WHAT negative information they have on a prospective customer - they won't disclose it to the bank, and it's not clear they disclose it to the individual.
My understanding is that several major megabanks recently were pressured by a Rainbow Coalition-like group to not totally refuse new accounts based on ChexSystems "derogatory information", since it was pointed out that the ChexSystems reporting had a disproportionately negative impact on people of color. But branchless OLBs haven't faced this kind of community accountability - after all, it's hard to set up informational pickets outside of a branchless Internet bank.
Any information on what measures a customer could take if they face blacklisting by Chex Systems?
No. of Recommendations: 1
Any information on what measures a customer could take if they face blacklisting by Chex Systems?
Sure. It's called "buy money orders at the local 7-11 [circle-K, whatever]"
No. of Recommendations: 0
Sure. It's called "buy money orders at the local 7-11 [circle-K, whatever]"
And pay through the nose to get a check cashed--$5 at the bank, if one is lucky. If not, there's always some "check cashing" establishment and pay an even more ridiculous fee.
