When it comes to managing your finances, you may be wondering if you can open an account without an SSN. The answer is yes, you can open an account without having to provide an SSN, however, the method you need to use in order to do so can vary from bank to bank. A few things you should know about opening a bank account without an SSN are the following:
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- You must provide a valid, government-issued form of ID, such as a passport, resident alien card, or driver’s license.
- You may need to provide additional documents, such as proof of address.
- You may be required to open a joint account with a US citizen who has an SSN.
- You may be charged additional fees, such as a deposit fee or account maintenance fee.
Types of Banks That Will Allow You to Open an Account Without an SSN
Depending on what type of financial institution you choose to open an account with, you may be able to open one without an SSN. Some financial institutions that may allow you to open an account without an SSN are online banks, credit unions, and prepaid debit cards. With online banks, you may have to provide additional documentation, such as proof of address, in order to open an account. Credit unions may require you to open a joint account with a US citizen who has an SSN. Finally, prepaid debit cards may not require an SSN to open, but can be a more costly option since you are usually charged fees for each transaction.
In conclusion, it is possible to open a bank account without an SSN, but there are certain restrictions and drawbacks associated with this. Be sure to do your research and carefully read all the documents associated with the account before you make a decision. Sources: Moneycrashers, The Balance [wprpi title=”” by=”category” post=”2″ icon=”show” thumb_excerpt=”true” excerpt_length=”48″]
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