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Wanted to see what folks here have experienced regarding identity being verified for new account at on-line bank. The bank in question rhymes with "uncover" but starts with a D.
I wanted to open a basic savings account. When I completed the application on-line, they said they could not complete it, and asked me to call in. I called in and the guy said he was going to do a soft pull on my public information to verify my identity. He came back and said he wasn't able to verify, and they needed me to send in copies of driver's license and social security card. Is this normal?
It honestly made me paranoid- why can't they verify my identity for a savings account? I got a new credit card from CITI last year no problem.
It's completely normal for banks to require ID, we will attempt to verify the data you provide through Lexus nexus or similar platforms but if the score isn't high enough we will require id
It's completely normal for banks to require ID, we will attempt to verify the data you provide through Lexus nexus or similar platforms but if the score isn't high enough we will require id
What does this mean in relation to opening a savings account (as opposed to requesting credit/loan)?
I asked specifically if they were doing a hard pull and they said no- just public records, which I have come to learn probably involves ChexSystems, if not other sources. I read up on what shows up in a Chex report and I would have nothing negative in that. I have zero negative financial issues (overdrafts, etc) and high credit score (although they said its not what they're checking for a savings account).
I am just trying to understand why my identity would not be able to be verified electronically. They had my name, dob, SS#, address, phone, and mother's maiden name. I've lived at the same address for over 10 years, same phone number for 10 years.
If they had just said that everyone who opens a savings account will need to send in copies of DL and SS card, I wouldn't have thought twice about it. But they made it seem like they should have been able to verify my identity using their public records systems, and that didn't work.
This may not be relevant, but I initially completed the application on their site, and then when it got to the last screen, the web page froze up and after several minutes, I closed it. I then came back, entered everything again, and it went through. Maybe that flagged as some sort of fraud or something?
the last time I did this, the online system stated the questions had to be finished in seven minutes. multiple choice.
some questions were about vehicles - what type and where I was living when I owned them.
for a couple of the questions, the correct answer was "none of the above"
Yeah, I have done that before when verifying my identity - but this application just asked for dob/ss/mother's maiden name.
I found this thread where someone had to send in utility bill and copy of SS card at this same bank - but it was for a credit card. Maybe this bank is just stricter than others.
Try a different online bank..."recover" rhyming bank doesn't always pay the best rate anyway.
On a side note, I tried to start my SS account online. It has an optional extra step to "verify your identity" by entering a credit card number. I entered my CC number and it was rejected. I've had that card probably 10 years now. So I tried another cc card, but the site shut down on me " for the next 24 (or48) hours, please try again".
I'm like "What"???
So I could not get on it.
Verifying identity these days due to so much fraud and ID theft is hard.
Check to see which online bank has a brick and mortar shop to physically go to.
Like Ally Bank, I think it is, has an office in Philadelphia, about 4 hours away from me. I can go there to open or add money. See if you have one close to you, even for a day trip.
But take ALL your documents with you!!!
It could also be their computer system was down.
Best of luck....
Could your next door neighbor obtained the same info and used it to open an account? My guess is that your info was ok but they were trying to figure out that you were you.
I had a problem logging into an account and ended up having to send a copy of my drivers license to get back in.
What does this mean in relation to opening a savings account (as opposed to requesting credit/loan)?
I asked specifically if they were doing a hard pull and they said no- just public records, which I have come to learn probably involves ChexSystems, if not other sources. I read up on what shows up in a Chex report and I would have nothing negative in that. I have zero negative financial issues (overdrafts, etc) and high credit score (although they said its not what they're checking for a savings account).
I am just trying to understand why my identity would not be able to be verified electronically. They had my name, dob, SS#, address, phone, and mother's maiden name. I've lived at the same address for over 10 years, same phone number for 10 years.
If they had just said that everyone who opens a savings account will need to send in copies of DL and SS card, I wouldn't have thought twice about it. But they made it seem like they should have been able to verify my identity using their public records systems, and that didn't work.
This may not be relevant, but I initially completed the application on their site, and then when it got to the last screen, the web page froze up and after several minutes, I closed it. I then came back, entered everything again, and it went through. Maybe that flagged as some sort of fraud or something?
Lexus nexus would score the amount of information we entered and they could verify, if the score they gave us was too low we would required ID.
Just be careful entering that info on line. Make sure you check out the address bar for a https encrypted site, it will be green highlighted with a pad lock in the top left corner. If it isnt don't list any info, leave. Its not rare for a very official looking website being identical looking to the real banks website but be a malcious fake website. Without https and unsecure. Once these fish have your info and passwords you're a gonner.
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