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If I'm setting up a bank account with my EIN.. will they ask for my SSN as well?

Discussion in 'Business & Tax Advice' started by captchadreams, Jun 7, 2012.

  1. captchadreams

    captchadreams Power Member

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    I setup a sole proprietorship so I could get an EIN to get a new paypal and some other things.

    Does anyone know if I goto a bank to setup a business account with my EIN if they'll want to run a telecheck/credit check on my SSN as well? I'm not looking to get credit cards or anything like that. I just want a bank account. I can't get an account on my current SSN right now. so I wanna make sure they'll setup everything without checking my SSN.

    I'd like to goto chase.. but if someone thinks they do ask for my SSN as well as my EIN.. do you know of another one that might not?
     
  2. zebrahat

    zebrahat Elite Member

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    It's standard post Patriot Act/Owellian protocol to demand a SSN and a personal ID, even for a business account. The US government wants every account to be traced to at least one person, whose activity gets traced by a SSN, and they despise any other form of authentication besides identification. That way they can freeze/seize/do as they please with your assets if they have any tax or legal disputes with you, and ask questions later.
     
  3. BlackhatBigfoot

    BlackhatBigfoot Regular Member

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    I had the same problem but I went to US Bank and got an account even though I owe fees to another bank. As long as there is no fraud involved they will give you an account.

    The only way they won't ask also for your SSAN is if you have LLC status with at least one other partner who materially contributes to the business, or if you are incorporated.
     
  4. captchadreams

    captchadreams Power Member

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    yeah it's just a sole prop. so i'm the only one in the business.. my problem is they won't give me an account because I have checks still out.. which I know I need to take care of that.. but getting a bank account where I can receive funds would sure help out.. I haven't tried to get a bank since I got my EIN though.

    I read another post where a member said that metabank doesn't really care if you have bad credit or whatever.. so i'm hoping they don't care or don't run telecheck as well. I think I'm going to try chase first, since I have branches of that here.. and if that doesn't work then I'll try metabank.
     
  5. iiaok

    iiaok Regular Member

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    Are you just trying to receive funds via ACH or direct deposit? Or is it for depositing checks?

    If that's the case, get a Green Dot Card and you'll get a routing / account number to give out and use to receive money.

    I've been doing that for a bit now since I got stuck in a similar situation.
     
  6. captchadreams

    captchadreams Power Member

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    well right now I only have my dads bank account.. and I really want to have my own so i'm not relying on him.

    I'd be using it to receive ACH from my day job.. as well as direct deposits from affiliates.. and setup a paypal. and I'll get a debit card to buy things online with the funds and around town.

    I looked into greendot but it had some fees associated with it.. and with a bank account I wouldn't have to worry.. but it's always an option if I end up not being able to get a bank account. so thanks for the reminder.
     
  7. iiaok

    iiaok Regular Member

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    Well, with Green Dot, you don't have to worry about the $3 / month if you transfer in over a certain amount.

    If you're talking about direct deposit from work, you'll hit their limit fast, and the fee is gone.