Answers about Identification

Can the bank require me to provide my Social Security number?

Yes. A national bank is required to obtain an identification number for several kinds of transactions:

  • when opening a new account
  • for monetary (deposit and loan) transactions
  • when reporting the interest earned on deposit accounts to the IRS

For a U.S. citizen, a taxpayer identification number is defined as the individual's Social Security number or employer identification number.