Getting a bank account without a SSN?

[MaineShark]

Just curious if there are any banks/credit unions that will open an account for you without an SSN?  Since our son doesn't have one, we were thinking in might be a good idea, if it's currently possible, just in case it later becomes impossible, he might already be "grandfathered" into the system. (in other words, bureaucrats are lazy and probably wouldn't check existing accounts for compliance with a new standard)

He'll still have a safe with gold and/or silver as his real account, but it might be useful to get a more traditional account just in case...

Joe

[Dreepa]

Good luck.... part of the patriot act (I think) required that all new bank accounts require SSN to open... also of course they want the SSN so that they can report earnings to the IRS.

(I tried a year ago to not give my SSN and had no luck)

[Lloyd Danforth]

Do Credit Unions run under all of the same rules as banks?

[Dreepa]

Do Credit Unions run under all of the same rules as banks?

Not all but 99%.
They fall under the NCUA.  (I have worked at a few different CUs)

[MaineShark]

Do Credit Unions run under all of the same rules as banks?

That's what I'm wondering.  I think traditional banks are out, but maybe there's a decent CU that is good with this...

Joe

[mvpel]

Bank of America is marketing to illegal immigrants, so maybe they'd be inclined to give you an account without a SSN.

[lordmetroid]

Bank accounts, I dislike the banks for their practices. I wouldn't use a bank if I could use debit cards in some other ways than tied to a bank account I would so want to. If there was a debit card that used liberty dollars I would so get it imediatly!

[Dan]

I drove into work today listening to Rothbard's 'What has the government done to our money?' and had the same thought:  If we could use a plasti front-end for arbitrary backends...

Cayman island accounts, e-gold, liberty dollars, paypal, bullion-direct, kitco pools, etc.

[NH_Geek]

https://www.goldex.net/index.php?fuseaction=content.debit

was considering this until reading about the e-gold's problems last week... 

[cyberdoo78]

I read somewhere that you can, and they cited law, the law may have changed but here's a link to one I found that quoted the law.

http://www.greaterthings.com/News/Victories/bank_ssn.htm

[svillee]

Check out the Virtual Money ATM card.

Not technically a bank account, but in many ways you can use it like a bank account.  I know for a fact you can open one without a SSN.

[error]

Check out the Virtual Money ATM card.

Not technically a bank account, but in many ways you can use it like a bank account.  I know for a fact you can open one without a SSN.

Yep, it seems so. The question is, how the hell do you get hold of one? And they have ridiculously low limits on how much money you can put on the card or spend at once.

[Dan]

I saw a lot of benifits to the VirtualCard until it sunk in that it doesn't work for any transactions on the internet.  It does not clear as a credit card like other ATM cards do.

[mvpel]

It's got a MasterCard-type number on the card on the homepage... I wonder if that's accurate.

[cyberdoo78]

If it is accurate, it could also be said to have a Visa number as well. I looked into it and it allows internet orders with the card, providing the merchant has signed onto the service. The card itself has promise, till I hear about the fees involved.

I use a similar card, mine is a MasterCard logo'ed card and can be used as both a debit or credit card. Monthly service fee is free for two cards(only one is Mastercard logoed). Direct deposits are free. POS signature(ie credit card) transactions are free and unlimited. POS - pin(debit card) are $.50 a transaction. ATM Transaction fee is $1.50, plus member bank's transaction fee. ATM Decline/ATM Balance inquiries are free, plus member bank transaction fees. Customer service and online statements are free. Retail reload deposit is up to $4.95. Additional cards on the same account are free, upto 3 cards per account. You can transfer money from one account to another account for $3.00 per transaction. You can get a cash advance at a bank for $4.00 per transaction, use the cash back feature at retail locations to avoid this fee. You can use it as a long distance calling card for $.06 per minute domestic. It can also be used internationally at ATMs for $1.50+bank fee. Both debit and credit card transactions cost $2.00 per transactions.

This is the Mio Card that I speak about: http://www.miocard.com