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View Full Version : is it safe to open a bank account?


iDream
02-23-2011, 02:44 AM
ok here's the deal, ive asked my parents to open an bank account for me.

is it safe? i need strong opinions. before i sign their application.

they're asking for SSN, which i have but aside from that the application says can i provide any other information about myself if needed. sort of like, when the IRS comes asking.

so is it safe?

dream_hope
02-23-2011, 02:56 AM
ok here's the deal, ive asked my parents to open an bank account for me.

is it safe? i need strong opinions. before i sign their application.

they're asking for SSN, which i have but aside from that the application says can i provide any other information about myself if needed. sort of like, when the IRS comes asking.

so is it safe?


Do you have an ITIN? In my experience I've opened accounts before and didn't really have an issue. I think banks don't care about your immigration status, they just care about your money. If it makes you feel better, try to google the bank name and "application" something like "Chase bank paper application" and see if you can find one. It will usually ask for a "tax id number" which can be either a SSN or a ITIN.

I had an account with Chase and with a credit union. Good luck!

iDream
02-23-2011, 03:11 AM
Do you have an ITIN? In my experience I've opened accounts before and didn't really have an issue. I think banks don't care about your immigration status, they just care about your money. If it makes you feel better, try to google the bank name and "application" something like "Chase bank paper application" and see if you can find one. It will usually ask for a "tax id number" which can be either a SSN or a ITIN.

I had an account with Chase and with a credit union. Good luck!

well its for wells fargo... and im pretty sure ITIN and SSN are the same thing..i think? because if it is.. yes i do.. but you know since im undocumented here.. any application that involves my signature, sort of worries me.

DreamerSD23
02-23-2011, 04:02 AM
ITIN and SSN are two very different things.

dream_hope
02-23-2011, 03:21 PM
They are different things, but both are accepted in most banks. I think that's what iDream meant.

lostdelirious
02-25-2011, 12:05 AM
I use Citibank and its been fine....and I think you can use your ITIN from what I know.

Thecure
02-26-2011, 07:56 PM
Banks take foreign Id's like Consulate Id's along with proof of address and ITIN to open a Checking or/and Savings account.

QuePasa87
02-27-2011, 01:23 PM
I used my ITIN with PNC bank.

labamba84
02-27-2011, 05:12 PM
I have use my ITIN with Credit Unions and Banks they are totally safe.

iDream
02-28-2011, 01:28 AM
can i use my SSN??

Ianus
02-28-2011, 01:07 PM
Most if not all banks use something called the Chex system,where they will have to confirm your identity through some means.This is why a tax ID or SSN is usually required to check not only your identity but also your credit history.

Dreaaamerrr
03-01-2011, 04:22 PM
Quick question, What can they see by looking up your Tax ID? Cause from what I know, they use SSN for identity AND credit. Does the Tax ID have ANYTHING to do with the credit?

iDream
03-01-2011, 06:30 PM
Quick question, What can they see by looking up your Tax ID? Cause from what I know, they use SSN for identity AND credit. Does the Tax ID have ANYTHING to do with the credit?

that's what im worried about.. wouldnt the IRS check up on you, when they see your bank account has money in it. or can they even look at your bank account?

Dreaaamerrr
03-02-2011, 11:24 AM
that's what im worried about.. wouldnt the IRS check up on you, when they see your bank account has money in it. or can they even look at your bank account?

From what I know, if they put you under investigation for possible tax evasion they can look at your account. But only if they suspect something is fishy.
I might be wrong though so don't take my word on it.

buckminsterfullerene
03-14-2011, 05:21 AM
well all I can tell you is that you can definitely open a bank account with an ITIN number, you just have to go in person and can't do it online unless you have an valid SSN.

However, I am also assuming that you have a "not valid for employment" SSN, otherwise, I don't know how you would get just a plain and simple valid SSN and be a dreamer. I do not know the implications of using that SSN online. I would make sure that you are actually taking about the SSN and not the ITIN number since you were having some confusion at the beginning regarding differentiating between the two and thought they were the same thing (they are not).

In any case, you should have an ITIN number, foreign identification (passport most likely), proof of where you live (other bank statements, bills, letters from the school, anything that looks somewhat official that you have received within the past couple of months that has you name and address). after that the process should be simple.

I have not opened a wells fargo but my parents did when they were out of status, I have opened chase and B of A, and they have opened HSBC, wells fargo, and WAMU (which is now CHASE)

miriamgsuarez
03-16-2011, 09:05 PM
just use your ITIN if you have it and they accept passports as forms of ID so its fine....i've had an account with bank of america for over 4 years and never had a problem with them. dont be scared! they have nothing to do with immigration :p

buckminsterfullerene
03-16-2011, 11:46 PM
just use your ITIN if you have it and they accept passports as forms of ID so its fine....i've had an account with bank of america for over 4 years and never had a problem with them. dont be scared! they have nothing to do with immigration :p

Oh my, bank of america is turning pretty bad as of lately. They are starting to charge people a whole bunch of fees, I am glad I just finished paying their credit card to get out of their account.

But here is the thing, and no other bank that I am aware of does this, BofA, if you have a credit card and you use it to pay and have some debt, that is ok, but if you on any occasion take out cash, the interest will be added to the credit card and any payments you make on the credit card will only deduct the purchases but not the cash advanced, while the interest is added as a cash advanced and thus charged at the highest interest rate possible. Until you finish paying all your purchases you will not start paying off the higher interest charging essentially interest and whatever was charged as cash advance.

When you pay does not pay the interest, it pays the purchase, so the interest will be added even if you pay three or 4 times the minimum amount, does not matter.

sorry for the rant, I just really hate BofA and I feel they have been stealing a lot of money by employing such underhanded tactics that I have never seen any other bank do. Even chase will automatically use your CC payment to pay the highest interest rate charges before the lowest interest rate charges.

Ianus
03-17-2011, 12:22 AM
^Lol,Yeah I believe they are also forcing people to restructure any accounts they may currently have as well in the second half of this year.Due to the restructuring and abysmal interest rates on savings it might be a good idea to start looking elsewhere.

I might still keep their checking account though considering the convenience of their ATMS.It sucks that all the interest rates are falling at all the popular banks like ING and Ally plus some of the online banks are really restrictive with your pennies like Smartypig.

ecnys
03-17-2011, 07:25 PM
From my experience just ITIN is fine with Chase and Suntrust

miriamgsuarez
03-17-2011, 07:53 PM
Oh my, bank of america is turning pretty bad as of lately. They are starting to charge people a whole bunch of fees, I am glad I just finished paying their credit card to get out of their account.

But here is the thing, and no other bank that I am aware of does this, BofA, if you have a credit card and you use it to pay and have some debt, that is ok, but if you on any occasion take out cash, the interest will be added to the credit card and any payments you make on the credit card will only deduct the purchases but not the cash advanced, while the interest is added as a cash advanced and thus charged at the highest interest rate possible. Until you finish paying all your purchases you will not start paying off the higher interest charging essentially interest and whatever was charged as cash advance.

When you pay does not pay the interest, it pays the purchase, so the interest will be added even if you pay three or 4 times the minimum amount, does not matter.

sorry for the rant, I just really hate BofA and I feel they have been stealing a lot of money by employing such underhanded tactics that I have never seen any other bank do. Even chase will automatically use your CC payment to pay the highest interest rate charges before the lowest interest rate charges.


well i don't have a credit card with Bank of America. I have a checking/savings account with them, and like I said, I've had it for over 4 years and I have had no problems with it. The checking account is free and i love my savings account. I had a chase account and had to close it because they wanted to start charging me $12 a month unless i had a certain amount of money. I am very satisfied with BofA. I don't know about their credit cards cause I have a different bank for that...and honestly i think all credit cards are bad with interests and all that stuff. I just finished paying mine off after like 2 years :p

buckminsterfullerene
03-17-2011, 08:10 PM
umm... that's odd, I have never been charged by chase any monthly amount and I have pretty low balance while I am in college (then again I do have a student account). I do know that BofA now charges a monthly fee if you have under a certain amount, with the exception of those who have student accounts, once you lose that they will charge you a monthly fee for the checking/savings account, its why my parents are going to close their BofA accounts after they finish paying their CCs, my dad already closed the checking/savings account.

dream_hope
03-20-2011, 01:55 AM
umm... that's odd, I have never been charged by chase any monthly amount and I have pretty low balance while I am in college (then again I do have a student account). I do know that BofA now charges a monthly fee if you have under a certain amount, with the exception of those who have student accounts, once you lose that they will charge you a monthly fee for the checking/savings account, its why my parents are going to close their BofA accounts after they finish paying their CCs, my dad already closed the checking/savings account.

miriam is right, Chase charges now, either $10 or $12 depending on where you live. they waive the fee if you keep a balance over 1000 bucks or do direct deposit of at least 500 bucks once a month. i don't remember the other way you can get it waived. i left Chase because of this, too. check your statements, they just started this last month.

MIdreamer
03-20-2011, 05:55 PM
I want to open a bank account too, but I don't have either SSN or ITIN. Is it still possible?

hgr1915
03-20-2011, 06:16 PM
I heard they allow you to open a Bank account with a "Matricula Consular". Is that still possible?

LuckyD
04-03-2011, 03:27 AM
I opened my checking/saving with Citibank without any SSN or ITIN. They just asked for ID and Proof of address. So far nothing bad has happened for 5 years since I've made it.