How can you avoid being listed on ChexSystems? Obviously, nothing is foolproof. However, the following tips can help you avoid being listed in ChexSystems, and then if you are listed in error, you can call CFS for help.
- Keep an eye on your account. Use online, telephone and ATM banking to check your balance daily and stay on top of your account activity and transactions.
- Keep meticulous records. Even if you use debit cards over checks (recommended), record every transaction at the time of use.
- If you share an account with someone else, insist on meticulous recordkeeping and utter transparency from them as well. A good idea is phone alerts that will let each of you know when the other makes a charge.
- Get overdraft protection in case of an error or overcharge. This will reduce the chance of an NSF fee. Overdrafts are not great, but aren’t viewed as harshly as a bounced check or denied transaction.
- Avoid writing checks when possible. Checks are much more likely to include errors or generate errors, and are easier to commit fraud with.
- Make sure you ask for and examine all of your reports at least once a year. This includes the free reports you are entitled to by law from all of the below agencies:
- ChexSystems
- TeleCheck
- EWS (Emergency Warning System)
- Experian
- TransUnion
- Avoid any behavior that could be seen as shady – such as floating checks on the assumption that a deposit is about to be made.
- Invest in a few cashier’s checks to store away in case you ever have to give a check to someone you don’t really know or trust. They won’t be able to forge it.
- Always have a back-up plan just in case you do get reported to ChexSystems. A secondary bank account at a credit union or small local bank could be a lifesaver if your main account ever was compromised by a ChexSystems report.
These tips can help you avoid being listed in ChexSystems. If an error or a mistake does cause you to have problems, CFS can help!