how does it work






 

Question by  jamieellison (1637)

How does ChexSystem work?

 
+4

Answer by  eiryck (847)

ChexSystem provides a validation mechanism in the banking industry. Whenever a person would open a savings or checking acount or do credit related transactions in a certain bank that is affiliated to ChexSysterm, her or his name would be scanned for records in a database and could be either classified as a good or a liable account.

 
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