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Chexsystems Debit History?

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#1 whall1970

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Posted 09 February 2018 - 03:04 PM

does anyone know what debit history from chexsystems means?  I was denied an account because of debit history?  My chexsystems record is clear of any accounts

#2 qqk

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Posted 09 February 2018 - 08:01 PM

does anyone know what debit history from chexsystems means?  I was denied an account because of debit history?  My chexsystems record is clear of any accounts


According to ChexSystems:



Your debit history can include such items as:

  • Any checking account closures you have had
  • Any returned (bounced) check retailers have reported about you
  • How many financial institution inquiries have been made about you and in what time frames
  • How many check orders you have placed and how often


So it's essentially like the "credit history" provided by credit reports, except it's about bank accounts and Chex only records (any) negative information.


If you're sure your Chex record is clean, it may be that -- according to the bank than denied you-- you have "too many" "recent" inquiries from opening or trying to open new checking accounts. Do you have many new accounts? The number and timeframe is determined by the bank and such institutions are informally called inquiry-sensitive. You can always call the bank that denied you to get a specific reason.


Given the denial, request a fresh Chex report AND also separately request your "Chexsystems Score". This is a "risk score" some banks use when you apply. The score report will include one or more reasons for why your score is what it is, which may provide a clearer explanation.


Edit: This site has a crowdsourced list of "Chex-inquiry-sensitive" banks/credit unions.

Edited by qqk, 09 February 2018 - 08:04 PM.

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