• filter:

Bank account fraud

  • Page :
  • 1
  • Text Only
  • Search this Topic »
Voting History
rated:
If someone applies for a bank account as a minor, and they put there actual social security number but lied about there birth date to make it look like they are an adult, Is that a crime? and if so what are the punishments?

Member Summary
Most Recent Posts
You cannot apply or open a bank account if you cannot supply the requirements needed for you to open an account. Banks u... (more)

exclusivesite (Jun. 10, 2017 @ 2:33a) |

Last bank I went to in person wanted a driver's license and a debit or credit card. To me, that's only ONE ID because I... (more)

Chyvan (Jun. 10, 2017 @ 5:16a) |

If you're a minor, you likely won't have a lot of information in those databases where they pull from to ask you verific... (more)

marginoferror (Jun. 10, 2017 @ 9:47a) |

Staff Summary
Thanks for visiting FatWallet.com. Join for free to remove this ad.

rated:
Life without parole.

rated:
Yes

rated:
Closed account. Get your money back. Get blacklisted. Never have an account with that bank again.

rated:
mayfryerluke said:   If someone applies for a bank account as a minor, and they put there actual social security number but lied about there birth date to make it look like they are an adult, Is that a crime? and if so what are the punishments?

Their not there.

rated:
You probably won't be able to open it -- they'll ask for ID.

Yes, lying on the application is a crime. Don't know the punishment or if the the bank would pursue it. As someone mentioned, they'll likely ban you for life. They might also share this event with most other banks via something like ChexSystems, which might prevent you from opening any bank accounts in the near future.

rated:
One way ticket to worker's paradise of North Korea.

rated:
Be the data point you crave!

rated:
Under the know your customer rules, it would be difficult to do this without a fake ID.

https://en.wikipedia.org/wiki/Know_your_customer

rated:
BostonOne said:   Under the know your customer rules, it would be difficult to do this without a fake ID.

https://en.wikipedia.org/wiki/Know_your_customer

We just opened a savings account for my daughter at the local CU, and all they needed from her was the SS card, and our IDs. We could have put any age for her if we wanted to.

ETA: just re-read it and it was a minor opening an adult account. Then in that case you are correct.

rated:

Paddlin (153.45kB)
Disclaimer
Hrmmm, to reply to the OP - I'm pretty sure that the punishment for this crime is a paddlin'

 

rated:

rated:
I think the parent should be setting an example of Honesty Being the Best Policy.

rated:
Are they still giving out toasters with new accounts?

rated:
drodge said:   https://www.fatwallet.com/forums/finance/1337993 
  Funny.  I had a PayPal debit card when I was a minor and I never lied about my DOB.  They must have changed their guidelines. 

Luke, you can get a bank account if a parent/guardian also puts his/her name on the account.  I understand if you do not want your parent to have access to the account since that is a risk.  If you are afraid of losing your money, you could try to use a prepaid debit card.  As previously stated by others, you will be unlikely to get a bank account open if you lie about your DOB since they require ID.  If you provide a fake ID, then that is typically a crime.  You would have better luck getting a credit card since they don't require ID.

Overview on accounts for minors: https://www.thebalance.com/bank-accounts-for-people-under-18-315365
 

rated:
caterpillar123 said:   
drodge said:   https://www.fatwallet.com/forums/finance/1337993
  Funny.  I had a PayPal debit card when I was a minor and I never lied about my DOB.  They must have changed their guidelines. 

Luke, you can get a bank account if a parent/guardian also puts his/her name on the account.  I understand if you do not want your parent to have access to the account since that is a risk.  If you are afraid of losing your money, you could try to use a prepaid debit card.  As previously stated by others, you will be unlikely to get a bank account open if you lie about your DOB since they require ID.  If you provide a fake ID, then that is typically a crime.  You would have better luck getting a credit card since they don't require ID.

Overview on accounts for minors: https://www.thebalance.com/bank-accounts-for-people-under-18-315365 

  On the other hand, if you open an account online, fat finger your year of birth, and provide a valid license ID, I could see it never be questioned.  The bigger issue might be if they cant verify you because you have no credit/public records file to verify you with.

And if you have no credit file, an inquiry from opening this bank account could create one for you - and it'd show your incorrect DOB, which could cause issues later on when you apply for credit using your correct DOB. 

 

rated:
Glitch99 said:   
caterpillar123 said:   
drodge said:   https://www.fatwallet.com/forums/finance/1337993
  Funny.  I had a PayPal debit card when I was a minor and I never lied about my DOB.  They must have changed their guidelines. 

Luke, you can get a bank account if a parent/guardian also puts his/her name on the account.  I understand if you do not want your parent to have access to the account since that is a risk.  If you are afraid of losing your money, you could try to use a prepaid debit card.  As previously stated by others, you will be unlikely to get a bank account open if you lie about your DOB since they require ID.  If you provide a fake ID, then that is typically a crime.  You would have better luck getting a credit card since they don't require ID.

Overview on accounts for minors: https://www.thebalance.com/bank-accounts-for-people-under-18-315365

  On the other hand, if you open an account online, fat finger your year of birth, and provide a valid license ID, I could see it never be questioned.  The bigger issue might be if they cant verify you because you have no credit/public records file to verify you with.

And if you have no credit file, an inquiry from opening this bank account could create one for you - and it'd show your incorrect DOB, which could cause issues later on when you apply for credit using your correct DOB. 

 

 Fat fingering might work but I would hope that bank's software or its employees would look at the actual ID and verify the DOB.  If they do not require upload of ID, they should have some source to actually verify that DOB is correct.

The credit card application will actually build your credit file with the incorrect DOB.  When person turns 18, there will be a small flag on credit report that says that file was open before turning 18 but I don't think it would ever be an issue.  It can happen to kids that are secondary cardholders on their parent's credit cards.  Although you are probably supposed to be 18 to get a secondary card, I don't think all credit card companies ask for DOB and SSN.

rated:
atikovi said:   Life without parole.
  Life in "Pound you in the *** prison?"  

ETA:  federal POUND ME IN THE *** prison

Office Space is the best documentary ever! 

 

rated:
debentureboy said:   atikovi said:   Life without parole.Life in "Pound you in the *** prison?"  

Office Space is the best documentary ever!
Yes, but only if you quote it correctly.

rated:
caterpillar123 said:   I understand if you do not want your parent to have access to the account since that is a risk.

Are you kidding? As a parent, I wouldn't do it because I'd be worried the kid would overdraft the hell out of the account, and the bank would be coming after me. That's the real risk.

rated:
You cannot apply or open a bank account if you cannot supply the requirements needed for you to open an account. Banks usually requires 2 valid id and they check it first assuring all facts you enter are valid.

rated:
exclusivesite said:   Banks usually requires 2 valid id and they check it first assuring all facts you enter are valid.

Last bank I went to in person wanted a driver's license and a debit or credit card. To me, that's only ONE ID because I could get the other being an authorized user on someone else's account. That "second ID" isn't exactly meaningful. Then there is opening an online account where they don't get to see ID at all.
  

rated:
Chyvan said:   
exclusivesite said:   Banks usually requires 2 valid id and they check it first assuring all facts you enter are valid.

Last bank I went to in person wanted a driver's license and a debit or credit card. To me, that's only ONE ID because I could get the other being an authorized user on someone else's account. That "second ID" isn't exactly meaningful. Then there is opening an online account where they don't get to see ID at all.
  

  If you're a minor, you likely won't have a lot of information in those databases where they pull from to ask you verification questions. If they can't verify you that way it probably goes to manual review and then they likely would require you to provide them with ID.

Under your statement though, you wouldn't open an account for your child because of the risk of overdraft, but would allow them to be an AU on a credit card?

There are banks that allow parents to open an account for their children but don't require the parent to be a joint account holder so theoretically the parent doesn't have access to the account. Of course, the parent knows all of the child's personal information so they could obtain information about the account if that's what OP is worried about.

  • Quick Reply:  Have something quick to contribute? Just reply below and you're done! hide Quick Reply
     
    Click here for full-featured reply.


Disclaimer: By providing links to other sites, FatWallet.com does not guarantee, approve or endorse the information or products available at these sites, nor does a link indicate any association with or endorsement by the linked site to FatWallet.com.

Thanks for visiting FatWallet.com. Join for free to remove this ad.

While FatWallet makes every effort to post correct information, offers are subject to change without notice.
Some exclusions may apply based upon merchant policies.
© 1999-2017