Any banks not requiring credit checks to open savings?
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Been a capitol one checking account customer for 50 years and wanted to move money from a no interest credit union account into their savings account but they wouldn't open a savings account without forcing me to open an online account which I didn't want but agreed to until they go to the point where I also had to agree to let them share my data with everyone to "verify" my ID including checking with the IRS and credit reports. BS. I told them to screw themselves and I'd leave my money where it was. We will be applying for a new mortgage soon and don't need them triggering something on the credit report. Of course the woman working there could have cared less.
Anyone know a bank with a decent interest rate to park money in that isn't going to require me signing away my rights to privacy after I give a social security and birth cert as proof of who I am?
All US banks need to comply with government requirements and regulations. Credit Union banks are a bit better bet.
And yes, banks share your info with IRS.
Been a capitol one checking account customer for 50 years and wanted to move money from a no interest credit union account into their savings account but they wouldn't open a savings account without forcing me to open an online account which I didn't want but agreed to until they go to the point where I also had to agree to let them share my data with everyone to "verify" my ID including checking with the IRS and credit reports. BS. I told them to screw themselves and I'd leave my money where it was. We will be applying for a new mortgage soon and don't need them triggering something on the credit report. Of course the woman working there could have cared less.
Anyone know a bank with a decent interest rate to park money in that isn't going to require me signing away my rights to privacy after I give a social security and birth cert as proof of who I am?
Have you applied for a mortgage before? A mortgage lender will want some of the same financial and personal verifications that bank is asking for. If you refuse to provide it, guess you won't be getting your loan. Is your credit score so tenuous a hard pull lender inquiry will tank it? Maybe there's more you need to do to shore that up before you apply.
You want an interest bearing account. Fine. Hopefully you realize the bank that's paying you that interest will be sharing your information with the IRS!
Have you applied for a mortgage before? A mortgage lender will want some of the same financial and personal verifications that bank is asking for. If you refuse to provide it, guess you won't be getting your loan. Is your credit score so tenuous a hard pull lender inquiry will tank it? Maybe there's more you need to do to shore that up before you apply.
You want an interest bearing account. Fine. Hopefully you realize the bank that's paying you that interest will be sharing your information with the IRS!
No kidding Jack. I expect that. But opening a savings to park $150k or so in a bank I already have been doing business with for 50 years shouldn't require a credit check and consumers are allowed to opt out of data sharing but capitol one has greyed out that feature in its online application. The couple of bucks the bank will be paying is way less then the money I will be lending it by opening a savings account.
Been a capitol one checking account customer for 50 years and wanted to move money from a no interest credit union account into their savings account but they wouldn't open a savings account without forcing me to open an online account which I didn't want but agreed to until they go to the point where I also had to agree to let them share my data with everyone to "verify" my ID including checking with the IRS and credit reports. BS. I told them to screw themselves and I'd leave my money where it was. We will be applying for a new mortgage soon and don't need them triggering something on the credit report. Of course the woman working there could have cared less.
Anyone know a bank with a decent interest rate to park money in that isn't going to require me signing away my rights to privacy after I give a social security and birth cert as proof of who I am?
I've never had a hard pull done for simply opening a savings/checking account with a bank. They do however, do some preliminary checks related to Patriot Act/BSA/FINCEN, ChexSystem, etc. Which is often where all these "releases" are for.
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Have you applied for a mortgage before? A mortgage lender will want some of the same financial and personal verifications that bank is asking for. If you refuse to provide it, guess you won't be getting your loan. Is your credit score so tenuous a hard pull lender inquiry will tank it? Maybe there's more you need to do to shore that up before you apply.
