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benspie

How I got BOA to FINALLY remove "fraud" from Chexsystems, after 3 years & 30+ attempts at contact

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I'm a new "member" to this board in terms of a new username. I've previously had an account and used it simply for research purposes to try and learn how to "get out of Chex Systems." It honestly was a nightmare to try and deal with as I had just moved cross country and finally had life going in the right direction, but one thing was standing in my way, CHEXSYSTEMS! As you probably already know, since you are reading this post, having a negative remark on your report can be a real pain. Take a step farther and if you have a negative FRAUD report like I did, you are essentially facing a very tough situation when it comes to obtaining bank accounts/ having removed. I just wanted to try and give back as I personally learned a lot of valuable, one of a kind information here and I definitely owe this community based on the knowledge it bestowed upon me. I also wanted my first post to set the tone for my future posts, which will very likely not be many, but my hope is that every single one of them will be helpfuill and insightful.

I'll try to make this post short and sweet as one of the keys to everyhting in finance that is invaluable and will fix anything. TIME~! Read it again TIME. I know I hate every single "time" I have to read that word, I just cringe, because its out of my control. There's almost nothing more you can do except WAIT for it all to run its course to get response back. AND OF COURSE you have to use good ol' snail mail (for the most paRT), when trying to dispute things with chexsystems.

I do want to go ahead and give a disclaimer to save some of you some TIME, I'm not about to give some newly found fast track way of successfully getting this removed. Its probably the same thing you have read over and over again. It does however tell you how I could have sped up the process and what I would do differerntly if I ever have to go through that Geronimo again. SO here's my experience with the greatest most helpful bank of all time, Bank Of America and the second best company to interact with, Chexsystems! Yay, lets hear it one time for helpful company's! (please excuse my sarcasm, but I assure you thats way nicer than what I'd prefer to say)

10/20/2013 - It was around this time that BOA reported me to Chexsystems for "FRAUDULENT " activety. There never was anything fraudulent about the trtweanaaction (I mean at least nothing intentionally done on my part, I can see I guess how this maybe could be interpretted as fraudelkent, trying to put myself in there shoes). I simply deposited a check into my account using the ATM, withdrew cash. Turned out the check was bad, so it bounced. That left my account in the negative. I was a senior in college and a bartender so I mostlery dealt with cash so at the time a bank account wasnt that big of ddeal to me. I just let the account ride until they closed it. Whatever I figured I'd just pay it of f when I finally got caught up and graduate college the next year, right perfect plan?

 

Fast forward to 05/15/2014 - I needed a nationwide bank as I'd just relocated to California for a new job (originally from East TN). Having a bank account at that time with a nationwide bank WAS CRUCIAL to my new career. So I went to BOA applied for a new account explained what had happened and was told " No problem you'll get this paid off and we'll open you a nerw account." Ok, cool I thought, had to talk to some people onn the phone regarding paying off the old debt. Did all that same day, in the BOA branch. Got all debt paid and new account opened! Alright I cleared it up, cost me an extra 300 dollars due to there bullshnit fees they threw on it, but its uiltimately my fault, Its fair I suppose, then the Geronimo started to really come tio light. ...

05/17/14 - Received a phone call from BOA informing that they were closing my account due to Reported chexsystems. AND THIS MY FRINEDS IS WHEN THE NIGHTMARE BEAGN. I learned about what chexsystems was and wquickly discovered HOW screwed I was. After going to the BOA branch to try and clkear it up and GETTING NO HELP ( a common theme throughout this whole endeavor) and tryinmg 2 other branches US Bank (who do report to chexsystems and will make exceptions for people with negative remarks on a case by case basis BUT NOT IF IT IS A FRAUD MARK on your chexsystems report. ) So I basicly was screwed, a bank account was seriously vital to my life at this point. I was able to get a card under my moms account but it was severely handicapped and was a local CU 2000 miles away.

Ok, this is going to take forever,m so I'm just going to cut to the chase. I went into BOA branches 15/15 times over the entire ordeal trying to get anyone to be able to help and figure out how I caould get this removed, they all gave me this uselless number to call everytime even when I told them I'd already talk to them. Like no one could help. When I called there fraud department or whatever and they investigated they concluded it was fraud. So BOA just told me tough chocolate. after 20/30 calls to them and as many visitsI started to work on chexsystems along the same time period calls wrote letters. I finally started to try and do the whole dispute the 30 day response thing and what not. BOA actuially took 42 days to get in touch in the mail. Either way, I had the certified mail stuff, or at least I though I did, but I didn't stay organizxed and thats what really screwed me. Organization iskey if you plan to go that route. I'd mark the days on a calnder and try to stick to that mailing plan.

 

Ok, so after probably 6/7 letters sent to BOA, I finally got some special case person to review my stuff and LET ME TELL YOU SHE WAS THE BIGGESTITCH I COULDN'T SCRATCH. I actually NEVER ONCE TALKED TO HER DESPITE THE 10/15 VOICEMAILS I LEFT. She called me back 3 times and it was always like 6/7 am. She knew I was on the west coast, I even tried to setupo tome with her and she never ouwld conveniently answer. And she seriously was on vacation more than anyone I ever have known. It was absolutely insane. I had made it clear that I had nop other recourse than to take them to small claims. I bluffed and told her I had all these letters regarding correespndance.

Finally, as a last ditch effort to try and get things resolved I looked up all the higher ups Presidents, VP's, then the same for regions, ETC. I wrote an e-mail and sent it to about 10 of those individual;s. I got a couple of responses, but I finally got someone that actually took interest (kind of) was at least willing to help. I just told her that I have no other choice than to take them to small claims court over this anmd then I was filing in less than a week and told her about all the calls, emails, letters and sent her a small outline of my attempts. I explained how I had no help and had no other choice but to try and let a judge help me.

This lady, I'll be damned, got it done for me, she got that CHexsystems removed off my report. this was about a year ago (06/2016).

So let me wrap up and tell you what I Would do Differently/ How I'd go about this again.

1, STAY ORGANIZED AND STICK TO A TIMELINE (I'd always get real interested and start writing letters each tiome it was a pain in my flowers or inconveneice of not having a bank account) and then it would fade as a priority, had I stuck it out I could of got this removed much sonner)

2. Get a calender and crteate a rough timeline of when you anticipate to send the next round of letters to boith the bank and Chexsystems

3. I was able to open an Account with Golden1 CU, they had to get special approval and then got a call a week later with them investigating it because of the fraud marked on CHexsystems but thankfulkly they let me keep it open but it was limited. SHOUT OUT TO GOLDEN1 yo da real MVP!
4. DOCUMENT EVERY SINGLE VISIT, CLL, LETTER, EMAIL, and EVEN EACH TIME YOU EVEN THGINK ABOUT THOSE Flower Pots. DOCUMENT DOCUMENT DOCUMENT

5. When all else fails (or you can try to do this from the jump) lookup the top 10 people as far as ranking order for that bank. Find there email and tell them you are about to take them to small claims. This helps a lot though if they can see the paper trail you have created as otherwise they might think your bluffing.

 

6. TIME TIME TIME. It sucks, but a lot of this takes time, it was very tough for me to accept and deal with that. WHen I wanted toso bad to fixc it I couldn't I'd wrote the letter I could that day and it was wait again, weould have been easier had I stayed organized.

 

 

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So thats it, the same stuff you;ve read everywhere else. It works. SO stop now, but down the coffee, close the youtube window and start doing. You can research all you want but research is useless if you don't apply it. Stay focused, create that timeline, find that template (message me if you need some) or search on here.

But don't wait any longer or you will be like me, taking 3 years do do something that should have taken a year tops (really 4/5 months), It will honestly make your life so much less stress field and happy.

AND MOST IMPORTNATLY NEVER EVER BANK WITH BANK OF AMERICA.

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Interesting post. Note that getting information removed from Chexsystems is always a tightrope walk. What works for one individual - may not work for another. Use the legal dispute process first - and then try other methods.

 

Chexsystems Removal Process:

 

1. Order your report. Examine the information and note any errors. When will the five year reporting period expire?

 

2. Negotiate with the reporting institution for removal. Try a goodwill approach with a Branch Manager where you opened the account.

(Get agreements in writing, if possible). Try a pay for delete or a pay for a "paid" status. Some banks and credit unions will

approve with a paid listing, if money is owed.

 

3. Dispute with Chexsystems. If the dispute is not successful, try a MOV or dispute directly with the bank (623 letter)

***Success with disputing often hinges on any errors or inaccurate reporting you have. If there are no errors, it may not work.
Always determine your legal leverage. Is there a reporting error or legal violation you can use?

 

4. File Regulator Complaints: (At this stage, you must be able to clearly state the issue and prove any errors)
File with the OCC for national banks, and state regulator for state banks. File with the OCC and NCUA for credit unions.

Credit Unions: https://complaint.mycreditunion.gov/Complaint/

National Banks: https://appsec.helpwithmybank.gov/olcc_form/

(Alphabetical list from the OCC) http://bit.ly/2rGvvC1 *Usually have N.A. after the official name.
State Banking Commissions: https://www.csbs.org/about/what/pages/directory.aspx#
Complaints against state banks should be filed with that state regulator.

Note: Depending on the complaint, the OCC may refer you to the CFPB.

5. Important: Have a primary or backup non-Chexsystems and/or non-EWS bank. Anytime you are on Chexsystems, you are at risk for a closure or freeze. It may not occur, but be prepared. Banks may change their loss prevention policies, merge with other banks or get new management. This may generate a change in screening policies for new and existing accountholders.

Edited by tmcgill

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