Scott (celebrith) wrote,
Scott
celebrith

Bureaucracy

So I decided to open a checking account at National City bank this week, mostly because they have a "work perks" promotion where they'll pay me $163 to open the account (counts as interest).
Everything has been smooth, except it turned out that someone else already has an account with the same Tax ID number (TIN) as me. We started worrying about identity theft, but it's apparently legitimate.
It's supposedly rare, but the IRS can issue an Employer ID number (EIN) that is the same digit sequence as a Social Security number (SSN) issued by the Social Security Administration, and both are valid TINs. The only difference is the hyphenation - an SSN is ###-##-#### while an EIN is ##-#######.
Since National City (and probably other banks) store the number as #########, it can lead to confusion in the rare instance that two entities with the same number sequence have an account at the same institution.
Apparently they have to report it to homeland security and provide definite proof of ownership of both numbers so that the government can decide that you're not a threat. Woohoo.
I still got the account - it was just a bit disconcerting.

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Tags: finance, mobile
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