If you have been rejected for a bank account, you may appreciate this CNNMoney.com article
. As you probably know, most banks use ChexSystems in the application process. According to the article:
About 80% of the nation's banks use information from the database to screen bank account applicants. Most negative information on a person's report stays in ChexSystems' database for five years, according to ChexSystems.
Three of the four examples in the article of people being rejected due to ChexSystems did overdraw from their accounts and had unpaid fees. However, one was a victim of identity theft. There were no mention of the case that is common to DA readers in which checking account applicants are denied due to too many recent ChexSystem inquiries.