Free Chex Systems Report

 

Where Do I Find a Free ChexSystems Report?

Offering a free ChexSystems report is about as benevolent as ChexSystems Inc. gets. Because they are governed by the federal Fair Credit Reporting Act (FCRA), a consumer protection legislation that is designed to ensure that the gathering and sharing of consumer information is done accurately, fairly and with respect for the consumer's right to privacy, your consumer report is available to you anytime, but not as easily to others who are seeking this information. This information can only be shared with other parties that have a legal right to that information. Some examples of legitimate requests cited by the ChexSystems HQ include your express written instructions; a business transaction initiated by you; a court order or federal grand jury subpoena; use of information for employment purposes, with your written permission; your application for a license or other benefit granted by the government, when consideration of financial responsibility is required by law; for a child support determination, under certain circumstances.

Prepare Yourself with Info

Of course, one has to know about the ChexSystems list first in order to consider such a thing. Then they can order a report to learn what information, if any, is listed in their consumer file at ChexSystems. The information provided in this report might help one to understand how ChexSystems was used in the decision to deny them a checking or savings account. Another interesting fact, worth noting, is that Chex System, Inc. is a wholly-owned subsidiary of a company called EFunds. ChexSystems software and development is the creation of this company.

There are terms and conditions associated with receiving a report from ChexSystems. The following list of terms and conditions come directly from the ChexSystems official website:

Terms and Conditions

1. You may order only your own personal ChexSystems report. By clicking AGREE, you certify that you are the person whose report is being requested.
2. You understand that obtaining another person's consumer report is a violation of federal law punishable by fines and imprisonment.
3. YOU AGREE TO PROVIDE YOUR ACCURATE IDENTIFYING INFORMATION AND UNDERSTAND THAT CHEXSYSTEMS MAY ACCESS, STORE, AND USE THIS INFORMATION TO THE EXTENT PERMITTED BY LAW.

Now, here's my question: how difficult is it really for others to obtain this information about you if they know your social security number or driver's license number? It's probably not difficult at all. So, not only do we have to contend with a flagrantly abused and flawed system, we also have to worry about the abuse of their flawed security. Sure, you can get a free ChexSystems report, but is it really free?