How to Open a Bank Account Without a SSN

Banks cannot deny you an account based on your lack of a SSN.

Almost anytime money is involved, consumers are asked to provide their Social Security number (SSN) for credit and background check purposes. Banks will almost always refuse to open an account for someone who does not provide a SSN. However, what many people do not realize is that they have a legal right to deny providing their SSN to a bank, and are still legally entitled to a bank account.

Instructions

1. Tell the bank where you want to open an account that you have terminated your SSN. This can be done in accordance with the U.S. Code of Federal Regulations, specifically Title 20 CFR 3 A7 404.1905. You may have to provide this code to the banker as proof you are familiar with the laws.

2. Remind your banker that there are no legal ramifications against the bank for failing to acquire a SSN from an account applicant.

3. Mention that under the Code of Federal Regulations, under Title 26 CFR 301.6109-1(c), banks are not legally required to acquire SSNs from all their applicants.

4. Point out that it is a felony under the Code of Federal Regulations to threaten, distress or force an individual using fear or deceit to provide their SSN in an unlawful manner. Do not take this step unless they continue to refuse a bank account to you after Step 3.

5. Wait for your banker to talk to management. These situations usually have to be run by a supervisor. If the supervisor still refuses a bank account, you can either threaten to take them to court or go to a different bank. It is rare for a banker to refuse an account when court is threatened, because their denial of an account is in clear violation of regulatory law.

References

• FairLoanRate.com

Resources

• Read this Article in Spanish