Chexsystems after 5 years?

Question

Okay, I just found out I am in the chexsystems database a week or so ago when I tried to open up a checking account and was denied.. However, the dispute was made 5 years ago during my senior year of high school... Sometime in mid May the dispute will be officially 5 years old..

I've read that it stays on the record for 5 years before it's removed from the chexsystems database.. So my question is: Is it likely that I will be able to open up an account once the 5 years is up ? Will I be permanently out of the Chexsystems database ??

How does this work ? I need a checking account..

Any chexsystems pros out there ?

Thanks..

Answer 1

It should be removed at the 5 year mark. Though you might want to keep an eye on it. If it isn't removed by the first of June, dispute it.

After the 5 years are up, it will remain in the Chex files but no one (including you) will see it.

There are many well known banks that do not use Chex. So you don't really have to wait until it falls off to get a checking account.

You might go to www.chexvictims.com (totally free site) and search their data base for a bank that does not use Chex.

Answer 2

Yes it will be removed. Read the page source I left below on this subject because there are banks out there that will still give you a checking account.