Bank of America ChexSystems: Policy & Removal

Just like several other banks across the globe, Bank of America conducts a historical search to see if their clients have a negative past with ChexSystems.

But having an imperfect history with ChexSystems doesn’t always mean Bank of America will robotically reject you.

At the moment several people, despite having a negative report with ChexSystems, still hold bank accounts at the Bank of America.

Does Bank of America Use ChexSystems

Yes, Bank of America makes use of ChexSystems just like any other financial institution.

However, before one is rejected, he or she is allowed to clear his or her name, hence the reason why you can have a negative report with ChexSystems and still be accepted at Bank of America.

Bank of America ChexSystems Policy

Each BoA branch has its terms and conditions for operating in the local banking sector.

These guidelines and rules are applicable to assist the banks in making decisions regarding whether or not to allow someone to have an account with them or not. There is also a choice of opening a bank account online.

Also, these rules and guidelines are updated from time to time.  If you check the current terms and conditions, you will get some differences from last year’s set of rules and guidelines pertaining to the application of ChexSystems.

From the year 2000 onwards, the BoA started looking at the reasons why a person was listed in the reports by ChexSystems before concluding on whether to deny them an account.

So, having a negative report cannot hinder you from getting a BoA because two factors are now mainly considered first.

The first factor is the period since you were enlisted for your negative activity at ChexSystems. The second factor is the severity of your negative reported activity.

Meaning if it is less severe, you will be forgiven and allowed to open an account at BoA.

BoA Reported me to ChexSystems

Bank of America usually reports any case of suspected fraud. If you fail to clear your name from their ChexSystems report, you are definitely going to lose your account.

Not only that, several other banks, including credit unions, will not allow securing an account with them.

You will certainly be begging for a second chance, but it may never come anytime soon. The best option is to clear fully with the Bank of America for them to delete your name from their ChexSystems.

But if you are cleared and they have not done that, then you need to wait for five years. Usually, they update their reports after five years, so certainly they will remove your name as long you have cleared with them.

Bank of America ChexSystems Removal

Before you are cleared and your name removed from ChexSystems by the BoA, you are expected to personally visit the bank and confirm that your negative activity has been cleared.

Once you have done that, you will be told what to do next by the BoA agents. But generally, if you clear, the report will be updated and you will not be in the negative report again.

Again, do not forget that the ease of removing your name from a negative ChexSystems report depends on the complexity of your activity.

Typically, very complex activities can take up to five years to be cleared. So kindly confirm the complexity of your issue for you to be sure how long it might take you to be removed from ChexSystems negative reports.

Bank of America ChexSystems Phone Number

In most instances, individuals who want to clear their names from ChexSystems reports by the BoA search for a number that they can use to contact agents of ChexSystems to be aided.

Well, if you are such a person, you should be using this number at all times- 800-428-9623.

The number is operational 24/7, but due to traffic, you may find it hard to get in touch with the agents. Hence, if you encounter such an incident, you can always reach out to the Bank of America customer care team for assistance.

Use +1 315-724-4022 to contact the care team at all times.

Related Post: Banks that don’t use ChexSystems.

About Nelkwob

Nelson K. is a former banker with experience in providing financial solutions to a variety of customers (individual and commercial). His background makes him the best go-to individual for information on money services offered by banks, credit unions, gas stations, and stores.

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