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ChexSystems Freeze: 5 Need To Know Facts


ChexSystems collects and distributes consumer banking activities and account history. A ChexSystems freeze will prohibit banks, credit unions, and other financial institutions from accessing your banking history.

When you place a ChexSystems freeze, it becomes more difficult for an identity thief to open a checking or savings account in your name.

ChexSystems Freeze: 5 Need To Know Facts

  1. A ChexSystems freeze is not a workaround if your ChexSystems report contains negative banking information. If you attempt to open a checking account at a bank that uses ChexSystems, they will ask you to “unfreeze” your ChexSystems report or just simply deny you.
  2. A ChexSystems freeze can help protect against bank account opening fraud.
  3. Adding a ChexSystems freeze provides another layer of protection against identity theft.
  4. Not all banks use ChexSystems, so a freeze won’t totally eliminate the risk of fraud or identity theft.
  5. A ChexSystems freeze is not a permanent. You can at any time request a temporary or permanent lift of the freeze business with entities that require access to the consumer’s data.

How to freeze my ChexSystems report?

You must go to the ChexSystems website to initiate a ChexSystems freeze. Once at the site complete the following steps:

  • Complete a form with your basic information such as your Name, Birthdate, Current Address and Social Security Number.
  • ChexSystems will place a security freeze on your file.
  • In a few days you should receive a Personal Identification Number (PIN) by mail.
  • Your unique PIN will assist you in managing the freeze, such as applying a temporary lift, or removing or changing personal identifying information.

When you submit a security freeze request to ChexSystems, it will only be applied to your ChexSystems consumer report. If you want to freeze your credit reports at the major credit bureaus, you must contact them directly.

How do I unfreeze my ChexSystems report?

There are three options to unfreeze your ChexSystems report:

  • Temporarily lift the freeze: Allows a financial institution to check your ChexSystems report for a set period of time then refreezes your report.
  • Permanently remove the freeze: Leaves your ChexSystems report open unless you request another freeze.
  • Remove your temporary lift: Allows you to reinstate a ChexSystems freeze.

Freezing your ChexSystems report largely prohibits ChexSystems from releasing information about you without your consent. Many banks won’t open an account if they can’t review your banking history unless you find a bank that does not use ChexSystems.

5 Banks that don't use ChexSystems

1. Upgrade

Features and Benefits

  • No ChexSystems or EWS
  • Open a checking account online instantly without a deposit
  • No account fees, no ATM or overdraft fees
  • Optional High-Interest Savings Account that earns 3.50% APY
  • 2% cashback on "common everyday expenses"
  • 1% cashback on all other eligible purchases
  • FDIC-Insured up to $250,000.

2. Chime

Features and Benefits

  • No ChexSystems or credit check
  • 60,000-plus free ATMs
  • No minimum deposit to open the account
  • No account fees, no ATM or overdraft fees
  • Optional Savings Account that earns 2.00% APY
  • Up to 2-Day early access to direct deposits
  • Overdraft up to $200 on debit card purchases
  • FDIC-Insured up to $250,000.

3. Acorns

Features and Benefits

  • Minimum opening deposit of $5
  • $5 monthly fee
  • Get paid up to 2 days early with early direct deposit
  • Free debit card and the option to lock/unlock the card if lost or stolen
  • Acorns Checking does not charge fees on ATM transactions
  • Online Bill Pay allows you to pay bills easily from your account
  • Acorns Checking allows you to manage your money online or with a mobile app. This includes depositing checks in your account with a mobile app on your smartphone.

4. Current

Features and Benefits

  • $10 minimum opening deposit
  • Savings feature that pays 4.00% APY on balances up to $6,000
  • No overdraft fees when you overdraw by up to $200 with Overdrive™
  • Get your paycheck up to 2 days early with direct deposit
  • Earn points for unlimited cashback at participating retailers
  • Make cash deposits at more than 60,000 retailers, including participating CVS Pharmacy, 7-Eleven, Dollar General, and Family Dollar.
  • 24/7 member support

5. OneUnited

Features and Benefits

  • Minimum opening deposit of $25 (can be funded with a credit card)
  • No monthly fee
  • Get paid up to 2 days early with early direct deposit
  • Free Online & Mobile Banking
  • Obtain Cash, Surcharge Free at Over 37,000 ATMs Nationwide
  • Deposit checks through the mobile app
  • Add cash at over 90,000 retailers nationwide including 7-Eleven®, Walmart, CVS Pharmacy®, Dollar General, Rite Aid, Walgreens and more
  • Free Bill Pay
  • OneUnited also offers a no-credit check cash advance up to $1,000

How can I get my ChexSystems report?

Order your ChexSystems report online instantly, directly on their website. The Fair Credit Reporting Act requires ChexSystems to provide you with one free copy of your ChexSystems report each year. However, during the COVID-19 Pandemic, ChexSystems will provide 3 free ChexSystems reports once every two weeks.

You also have the right to pull a free copy of a ChexSystems report used in a decision to deny your application for a new account.

Your ChexSystems score is separate from the ChexSystems report. The score can also be ordered online.

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