Q:

Does the TCF Bank use ChexSystems when opening a checking account?

A:

Quick Answer

TCF Bank in Illinois does not use ChexSystems to investigate prospective customers who want to open checking accounts. However, TCF Bank does not open accounts for people who already owe money to the bank, and it may deny accounts to potential customers whose names appear on banking's Early Warning System.

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Full Answer

ChexSystems is a check verification service that collects data on bank customers, including those with a record of bounced checks, fraud, bank abuses and other negative banking behavior. ChexSystems shares this information with its member banks and merchants, advising them whether to accept checks or open accounts with customers. Many banks refuse to open accounts for customers with a ChexSystems record.

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