ChexSystems

Freezing these stops someone from taking out a payday loan in your name.

ChexSystems is what banks check before opening a new checking account.

Freeze it and nobody can open a bank account as you.

NCTUE is what phone, cable, and utility companies check, and Innovis and LexisNexis are used for identity checks across all kinds of industry.

Oh, yeah.

And if they went to the wrong institution and the individual at that institution, whether a bank, credit union, whatever, looks at them and says, "Well, you've got a ChexSystems.

You are a bad person.

You owe XYZ institution money.

You don't bring it back to zero.

The bank closes the account and reports you to a company called ChexSystems.

It's like a credit bureau, except it only tracks bank accounts.

And most people have never heard of it until they get turned down opening a new account.