Why would I need a SSN to open a Monzo (USA) account?

Hey. On Twitter Monzo has stated that in order to open a US account you’d need to have a SSN. However, I don’t get why they are enforcing this. As an international student I was able to open a US bank account with Chase just by showing them my passport, my visa and my utility bill. Bank of America, Wells Fargo and other banks offer the same. It’s therefore not correct that you’re required by law to have a SSN in order to open an account.

Does anyone know why Monzo are enforcing it?

It is also explained here.

This might be due to the bank they’re partnering with and the requirements they’ve put on it. Also as there won’t be branches it’s probably easier to prove with an SSN

My guess they’ll implement that later, but to get the account of the ground it’s easier to just allow ssn

With Chase I’d to physically go into a branch, but with that said. All they did was to make a copy of my pasport, my visa and my utility bill. I could do that myself and upload it online, like with the verification process of Monzo in the UK. If they are worried about the documents being fake, I guess you could always get them notorized.

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Hi there Bendik - I’ve moved your topic to our US forum and added US to the title, since the topic is only relevant for our US accounts.

As far as your actual question, let me follow this up with the US team and get back to you :grinning:

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The fact you went into branch shows you were at least in the US :grin: Notarisation sounds like it would use a lot of COps time to verify people

Not having a SSN was the only reason why I’d to go into bank. Getting a document notized is as easy as taking it to the bank or another public place and have them stamp it, as far as I know.

Thank you! I’d really like to open a US account and get rid of my old school bank.

Do you have an ITIN number, Bendik? I believe that international students and other non-permanent residents get these in place of an SSN, from the IRS.

Unfortunately, I do not. The only way to get one is to get a on-campus job. I will try to apply for a on-capus job, get a ITTIN, apply for Monzo and then quit the job if that’s what it takes, but I was hoping to avoid it.

My understanding is that we are hoping to offer accounts to non-permanent US residents, if they can provide an ITIN.

I don’t believe we are - at present - looking into alternative verification methods that don’t require either the SSN or ITIN, so if there’s a relatively simple way for you to get the latter, I’d advise doing that :slight_smile: