Have a Bad Check History and Need a Checking Account?

24 Jan Have a Bad Check History and Need a Checking Account?

Previously this site has taken a look at Chex Systems and the records that it maintains on consumers and their use of checking accounts at banking institutions. But did you know that Chex Systems is a sponsor for an education program designed to get you back on track with your banking? Get Checking was designed by the University of Wisconsin to help consumers correct past errors and learn how to prevent them in the future.

Although the program is not present in every state, many communities have courses available. The course is not available to individuals who have been deemed to engage in fraudulent activity. You must also pay rfull estitution to the original banking institution before you can register for the course. Then only after you attend every class and pass a written test, you will earn the certificate of successful completion. However, simply passing the course does not guarantee that you will be allowed to do business with a member banking institution. If the course or a participating institution is not present in your area, this program will not assist you.

Why does this program make sense? Consider the possibilities from the institution’s point of view for a minute. It is simply good business. A successful graduate from the program is a new customer who poses little risk in the future for ‘abuse’. It also presents an opportunity to sell the consumer other products the institution offers such as loans, credit cards and mortgages. These are the same reasons why a consumer is a better risk immediately after a bankruptcy discharge. With such a profit motive, it is a wonder why the Get Checking program isn’t available in every bank branch office.

“ConnecticutGene Melchionne is a bankruptcy lawyer covering the entire State of Connecticut. He can often be found on Google+ and Twitter, where he shares information about consumer protection issues and personal finance.

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