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by mifreewil 2861 days ago
Fun fact: Car dealerships are actually considered financial institutions under FinCEN regulations. Depending on the cost of the car/cash amount, they may need your SSN for reporting purposes.
1 comments

No, they still do not. Banks don't even need your SSN...

> You are not required to have a social security number to open a checking or savings account.

Source: https://www.consumerfinance.gov/ask-cfpb/can-i-get-a-checkin...

“To open a checking or savings account, the bank or credit union will need to verify your name, date of birth, address, and ID number. An ID number can be a social security number or an Individual Taxpayer Identification Number (ITIN).“

Having spent more than a few years in FinTech, I know these things can vary from company to company as companies generally are required to design their own “risk-based” policies for AML and KYC.

"can be" not "must be". Driver License number or just about anything else is legal, it's just up to the bank whether or not they want to accept it.