*HELP!* Problem creating a Business Bank Account as a new 18 year old.

by Eric908458. Posted on Sep 13, 2020    4    10


Hello All

In a bit of a situation here that’s been getting me really worked up. I recently just turned 18 a few days ago and filed for my first LLC, obtained EIN, submitted to IRS, etc, etc. I finalized my LLC but here comes the very frustrating part. When I was applied for a Business Bank Account, I input all my information and my SSN (Social Security Number) obviously. I wait a couple of days for it to be approved, but I got denied saying I “Mistyped” my SSN or couldn’t be found/identified. I know my SSN is 100% correct and even showed proof of my SSN Card to the Bank but it was still denied. I heard rumors that it could take up a few months for a new 18 year old to their identity (SSN) become fully identifiable, but I can’t really afford waiting a few months.

Is there anything I can do in my power to fix this? Any Recommendations? Help would be MUCH appreciated. Thanks.


Comments

zackblane 2

Not sure. If i can be much help. But as you stated that it takes a few months for 18 year old to be fully identifiable. This is not how system works and if it works that way still your birthdate when added in system will show a pop up if you are under 18. Just how system works especially for financial institutions. Now i don't know how it works in US but to ensure that your SSN is working you could try using that same SSN to apply for opening account in 3 other banks or applying for credit cards which should give you an idea if the problem is the bank or the SSN. If it is negligence of bank you could complaint this with the Grevience Redressal Committee or higher management. Also, the way it works here we are issued a separate PAN card to identify business. Can you check for the same? I guess it's referred to as TIN Then again don't know how it works there but try the above troubleshooting should put you on right path where you need to work.

Let me know in DM if it works out for you.

tobylikesprostate 2

Is this bank account currently integral to your business process?

  Eric908458 2

Yes

Boarders0 2

Excuse my ignorance, but could you please explain why you need a business class bank account immediately.

  Eric908458 2

Own a Media Business which its revenue started to grow faster than we initially planned and we are getting holds on our personal bank due to not having a business bank account

gvault2 2

Are you running a SMMA? could you please elaborate what kind of media business you're into?

Boarders0 2

Makes sense, PayPal not an option in the midterm. I know they like holding peoples money.

  Eric908458 2

Yes, it’s definitely a pain in the ass haha

tobylikesprostate 3

Care to disclose the institution? Why not apply elsewhere? And it for sure asked for your SSN and not the EIN. Are you the sole proprietor?

  Eric908458 1

I believe most online banks need your SSN to verify your identification. Yes It did ask me for the SNN and I am the owner