And more and more people are running into the same problem. So let's take some time to learn about ChexSystems and the screening that banks do before they agree to open an account for you. First, some background on ChexSystems . Deluxe Corp. the world's largest check printer. They keep track of bounced checks, ATM overdrafts, 'closed for cause' accounts and the number of times that banks ask about your financial history.
Banks use the service in an attempt to avoid problem customers.
Although they're the largest, ChexSystems isn't the only agency offering this type of service. Telecheck is also in the same business. It's important to note that ChexSystems does not approve or deny your application for a new account. All they do is provide information to the bank. The bank makes the final decision.