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Questions Answered by Ian B. Lyngklip
1 Answer | Asked in Banking, Consumer Law and Identity Theft for California on
Q: How long can Charles Schwab hold my money legally after they close my account. They said I was in chex systems

They said I was in chex systems so they can't open my account due to fraud. I sent them my California ID along with a utility bill as a second proof of address. As a courtesy. To help expedite on proof of who I am. They keep telling me someone from fraud will call me. To tell me how I can go... Read more »

Ian B. Lyngklip
Ian B. Lyngklip answered on Jan 25, 2021

If they are telling you that there is a problem with ChexSystems, there are two problems. The first problem is that ChexSystems is a credit reporting agency that publishes data relating to bank and checking accounts. The major banks report NSF checks to ChexSystems, and that agency regularly... Read more »

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