No SS card no access to new ETrade account

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SGM
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No SS card no access to new ETrade account

Post by SGM »

ETrade said one can change an UTMA account to a personal account with a phone call. My grown child did this but cannot access the account now without a social security card that he lost. Due to the covid virus there are no local ss offices open. There is a social security myaccount site that supposedly works quickly to give replacement cards. My child has applied for a new card but has been waiting for too long.

I called Morgan Stanley whose rules require the social security card. The Etrade employees say that they cannot give the child access. Morgan Stanley doesn't have access to ETrade accounts although they bought the company.

From our end it looks like the account disappeared. There is nothing we can access on the internet and the printed statements are no longer mailed out.

This family has multiple accounts at Etrade and Vanguard. We will remove all accounts from ETrade if access is not given shortly.

Any suggestions on getting a new card quickly or pressuring ETrade.
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David Jay
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Re: No SS card no access to new ETrade account

Post by David Jay »

Last I knew, US born individuals can get a new card issued online through their “My Social Security” account.

Create a “My Social Security” account here: https://www.ssa.gov/
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fortunefavored
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Re: No SS card no access to new ETrade account

Post by fortunefavored »

I had this happen at etrade too - an account just disappeared one day. With no notification or communication at all.

It falls under "know your customer" - which is a federal law. There is no way around it.

In my case, they required a driver's license with my address printed on it. In my state, they do not update your physical card when you move. My only option was to report my driver's license lost/stolen and pay for a new one.

Sorry.
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galawdawg
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Re: No SS card no access to new ETrade account

Post by galawdawg »

SGM wrote: Fri Jun 11, 2021 9:31 am There is a social security myaccount site that supposedly works quickly to give replacement cards. My child has applied for a new card but has been waiting for too long.

This family has multiple accounts at Etrade and Vanguard. We will remove all accounts from ETrade if access is not given shortly.

Any suggestions on getting a new card quickly or pressuring ETrade.
If your son was eligible to request a replacement card using the SSA website online, did he do so? https://www.ssa.gov/myaccount/replacement-card.html. You say he has been waiting "too long"...how long is that? According to SSA website, replacement cards usually take two to four weeks. If it has been more than four weeks since he requested his replacement card, he should call the local SSA office.

I'm not sure why you are upset at E*TRADE, it is hardly their fault that your son lost his SS card and didn't order a replacement until after he wanted to access the E*TRADE account. There isn't any "pressuring" E*TRADE, your son just needs to wait for the new card and exercise some patience. It is a reasonable requirement that if he is establishing a new account he furnish or display his SS card. In fact, that may be required by other brokerages as well due to federal requirements.

But if it makes you feel better closing your E*TRADE accounts, by all means. Of course, if your son also wishes to close his new E*TRADE account, he won't be able to do so until he gets that SS card. :oops:

This may be a good learning experience for your adult son...imagine if he was offered a hard to find lucrative job at a new employer and they weren't able to hire him because he couldn't produce his SS card. Sometimes learning responsibility comes at a price, this would appear to be a very, very small price to pay for that lesson. :beer
livesoft
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Re: No SS card no access to new ETrade account

Post by livesoft »

My child had to mail in some things to both Vanguard and Fidelity. He has not bothered to do so for Vanguard in about 5 years, so his Roth IRA and taxable account there have been "locked." He just doesn't care. His Fidelity Roth account was stupid because he had an active Fidelity-custodianed 401(k) from his employer, so one branch of Fidelity knew his identity to their satisfaction. He only mailed in his credentials to Fidelity after I said I would give him money to put into his Fidelity Roth IRA to join the other money initially invested there, but I think he was also concerned that when he applied for his first credit card that it would be denied. It wasn't.

I guess there are worse things in life than dead money at Vanguard. :)
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Lee_WSP
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Re: No SS card no access to new ETrade account

Post by Lee_WSP »

livesoft wrote: Fri Jun 11, 2021 10:42 am My child had to mail in some things to both Vanguard and Fidelity. He has not bothered to do so for Vanguard in about 5 years, so his Roth IRA and taxable account there have been "locked." He just doesn't care. His Fidelity Roth account was stupid because he had an active Fidelity-custodianed 401(k) from his employer, so one branch of Fidelity knew his identity to their satisfaction. He only mailed in his credentials to Fidelity after I said I would give him money to put into his Fidelity Roth IRA to join the other money initially invested there, but I think he was also concerned that when he applied for his first credit card that it would be denied. It wasn't.

I guess there are worse things in life than dead money at Vanguard. :)
It could end up in the state's unclaimed property account earning no interest if he continues to ignore it.
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Re: No SS card no access to new ETrade account

Post by livesoft »

Lee_WSP wrote: Fri Jun 11, 2021 10:50 amIt could end up in the state's unclaimed property account earning no interest if he continues to ignore it.
Yes, it could. That would be a good lesson for him, wouldn't it?
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Lee_WSP
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Re: No SS card no access to new ETrade account

Post by Lee_WSP »

livesoft wrote: Fri Jun 11, 2021 10:52 am
Lee_WSP wrote: Fri Jun 11, 2021 10:50 amIt could end up in the state's unclaimed property account earning no interest if he continues to ignore it.
Yes, it could. That would be a good lesson for him, wouldn't it?
He would not learn it until it's to late to correct it though. Ten or twenty years of lost interest is quite bad.

But, yes, our children need to learn their own lessons and live their own lives. Hopefully we taught them well.

I'd probably let your son know in writing that vanguard will eventually liquidate the account unless he checks in on it. Maybe even do it via certified letter.
Last edited by Lee_WSP on Fri Jun 11, 2021 10:55 am, edited 1 time in total.
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Nate79
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Re: No SS card no access to new ETrade account

Post by Nate79 »

Wow, no SS office in driving distance at all that is open? Due to covid? That's crazy they aren't open. Anyways, not sure how long he has been waiting for the replacement card but he could contact his local Vongress representatives office and see if they could help expedite or investigate the card issue.
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Re: No SS card no access to new ETrade account

Post by livesoft »

Lee_WSP wrote: Fri Jun 11, 2021 10:53 amHe would not learn it until it's to late to correct it though. Ten or twenty years of lost interest is quite bad.
Only if he didn't open and read the letter that Vanguard would be required to send him about what it was doing with his money.
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Lee_WSP
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Re: No SS card no access to new ETrade account

Post by Lee_WSP »

livesoft wrote: Fri Jun 11, 2021 10:57 am
Lee_WSP wrote: Fri Jun 11, 2021 10:53 amHe would not learn it until it's to late to correct it though. Ten or twenty years of lost interest is quite bad.
Only if he didn't open and read the letter that Vanguard would be required to send him about what it was doing with his money.
If he moves, it may not get to him. But like we said, it's his problem to solve.
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BolderBoy
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Re: No SS card no access to new ETrade account

Post by BolderBoy »

How many people do you know who don't have their SSN memorized?
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Re: No SS card no access to new ETrade account

Post by livesoft »

Lee_WSP wrote: Fri Jun 11, 2021 11:10 amIf he moves, it may not get to him. But like we said, it's his problem to solve.
True.

My son doesn't know it, but I am letting him do the mythical Fidelity study about dead clients: Will his Vanguard account(s) outperform his Fidelity account(s) since Vanguard might consider him dead? :twisted:
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Kenkat
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Re: No SS card no access to new ETrade account

Post by Kenkat »

BolderBoy wrote: Fri Jun 11, 2021 11:16 am How many people do you know who don't have their SSN memorized?
Typically you have to upload a scan of the actual SS card
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Re: No SS card no access to new ETrade account

Post by Katietsu »

David Jay wrote: Fri Jun 11, 2021 10:15 am Last I knew, US born individuals can get a new card issued online through their “My Social Security” account.

Create a “My Social Security” account here: https://www.ssa.gov/
FYI, good to check here but it depends on the state of residence.
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BolderBoy
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Re: No SS card no access to new ETrade account

Post by BolderBoy »

Kenkat wrote: Fri Jun 11, 2021 11:18 am
BolderBoy wrote: Fri Jun 11, 2021 11:16 am How many people do you know who don't have their SSN memorized?
Typically you have to upload a scan of the actual SS card
Oh. Is this an ETrade-specific requirement?
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Re: No SS card no access to new ETrade account

Post by epargnant »

How long has he been waiting for the SS card? We just received a SS card for an adopted child (different than a replacement I know). However, it said it typically takes 2 weeks and it took 8 weeks.

Social security offices do accept appointments for certain people in particular circumstances. You have to call to see if you're eligible for an in-person appt. My guess is that OP's son does not qualify as he doesn't need it for immediate employment. Otherwise, they are doing everything over the phone or mail, even for things that in the past you needed an appointment for.

I called a few times over the course of the 8 weeks and sometimes got through, sometimes not, sometimes had someone helpful, sometimes not. Your son could try calling a few times and asking about the status of his request.

That's my recent experience.
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Re: No SS card no access to new ETrade account

Post by livesoft »

BolderBoy wrote: Fri Jun 11, 2021 11:26 am Oh. Is this an ETrade-specific requirement?
I think it is a specific P.A.T.R.I.O.T. Act requirement.
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Re: No SS card no access to new ETrade account

Post by Grt2bOutdoors »

livesoft wrote: Fri Jun 11, 2021 11:39 am
BolderBoy wrote: Fri Jun 11, 2021 11:26 am Oh. Is this an ETrade-specific requirement?
I think it is a specific P.A.T.R.I.O.T. Act requirement.
It’s part of the AML/KYC requirements under the 2001 USA Patriot Act. AML = Anti Money Laundering. KYC = Know Your Customer.

It’s serious stuff, so serious that firms which fail to comply with the regulations can be fined for each day they are in violation and they can lose their license to operate and they can be criminally charged. It’s no joke.
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SGM
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Re: No SS card no access to new ETrade account

Post by SGM »

My child was unable to set up a SS myaccount so he mailed two forms of ID, He cannot apply for a job since those IDs are not yet returned from SS.

I called a local Morgan Stanley advisor and told him of the issue. Then I spoke to an ETrade associate and told him we would remove the whole family's accounts from ETrade. About 2 hours later ETrade opened up the account to the child.

Hopefully the IDs will soon arrive in the mail and jobs can be applied for.

We did get a social security card near the child's birth and moved from one coast to the other and lived in several houses. The child may never have received a SS card. We keep these things in a local bank safety box, but the first child's card may have been lost in the many moves.

Now I can relax and watch the French Open.
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Re: No SS card no access to new ETrade account

Post by dbr »

It is not a joke that government documentation of all kinds has been fouled up by COVID it not by other issues. This extends to passports, drivers and vehicle license issues, SS or other government issues, etc. On the other side they did extend the tax payment deadline. Not opening a political discussion, but processing of COVID emergency benefits has not been smooth in many cases.

It can be a mixed deal. I was able to renew my DL 100% online, which is a new option that was provided, but I could not get the Real ID version that way for which appointments are two months out and not even available at half the offices that used to be open. You could even upload the application and images of documents, but they still have to see you and your documents in person even if you are preapproved. Fortunately I still have an unexpired passport card.
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Re: No SS card no access to new ETrade account

Post by hank-johnson »

SGM wrote: Fri Jun 11, 2021 12:25 pm My child was unable to set up a SS myaccount so he mailed two forms of ID, He cannot apply for a job since those IDs are not yet returned from SS.

I called a local Morgan Stanley advisor and told him of the issue. Then I spoke to an ETrade associate and told him we would remove the whole family's accounts from ETrade. About 2 hours later ETrade opened up the account to the child.

Hopefully the IDs will soon arrive in the mail and jobs can be applied for.

We did get a social security card near the child's birth and moved from one coast to the other and lived in several houses. The child may never have received a SS card. We keep these things in a local bank safety box, but the first child's card may have been lost in the many moves.

Now I can relax and watch the French Open.
SSA offices are open for this type of business, but it requires calling and making an appointment.
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Re: No SS card no access to new ETrade account

Post by khunron »

Lesson Learned: memorize your SS number.
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Re: No SS card no access to new ETrade account

Post by dbr »

khunron wrote: Fri Jun 11, 2021 3:29 pm Lesson Learned: memorize your SS number.
The problem is instances where the requirement is to produce an original (not facsimile copy and not just what is the number) of the SS card.

I had a family member who had to do that as part of a public assistance application. We spent most of a day and waiting outside in winter weather to get it processed at the local SS office. It was not just any office either but only the downtown office in the near major city. I don't remember what stopped getting a new card online, but something didn't work.
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Re: No SS card no access to new ETrade account

Post by SnowBog »

dbr wrote: Fri Jun 11, 2021 4:09 pm
khunron wrote: Fri Jun 11, 2021 3:29 pm Lesson Learned: memorize your SS number.
The problem is instances where the requirement is to produce an original (not facsimile copy and not just what is the number) of the SS card.

I had a family member who had to do that as part of a public assistance application. We spent most of a day and waiting outside in winter weather to get it processed at the local SS office. It was not just any office either but only the downtown office in the near major city. I don't remember what stopped getting a new card online, but something didn't work.
I needed my "official" SS card (which apparently I had lost or never had - but I have a copy) to apply for a Real ID driver's license. (That or share a W2 or 1040 form - no thanks.).

Of course I don't live in a state that can do it online...

So mailed the documents/form and waited months to get it back. Such is life...
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Re: No SS card no access to new ETrade account

Post by gatorking »

SnowBog wrote: Fri Jun 11, 2021 4:28 pm I needed my "official" SS card (which apparently I had lost or never had - but I have a copy) to apply for a Real ID driver's license. (That or share a W2 or 1040 form - no thanks.).

Of course I don't live in a state that can do it online...

So mailed the documents/form and waited months to get it back. Such is life...
My W2 and 1099 forms don't show the full SSN, just last 4 digits, so I had to get a new SSN card before applying for real ID.
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Re: No SS card no access to new ETrade account

Post by mhalley »

I am aghast that would ignore their financial accounts for five years.
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Re: No SS card no access to new ETrade account

Post by tibbitts »

SnowBog wrote: Fri Jun 11, 2021 4:28 pm
dbr wrote: Fri Jun 11, 2021 4:09 pm
khunron wrote: Fri Jun 11, 2021 3:29 pm Lesson Learned: memorize your SS number.
The problem is instances where the requirement is to produce an original (not facsimile copy and not just what is the number) of the SS card.

I had a family member who had to do that as part of a public assistance application. We spent most of a day and waiting outside in winter weather to get it processed at the local SS office. It was not just any office either but only the downtown office in the near major city. I don't remember what stopped getting a new card online, but something didn't work.
I needed my "official" SS card (which apparently I had lost or never had - but I have a copy) to apply for a Real ID driver's license. (That or share a W2 or 1040 form - no thanks.).

Of course I don't live in a state that can do it online...

So mailed the documents/form and waited months to get it back. Such is life...
It's not that simple if you're required to have those documents/forms with you while they're in possession of the SSA. The documents can't be in two places at once. Apparently the SSA has decided to permanently close all offices to public access, so there is no longer any practical method for replacing a social security card for those of us who live in states that aren't enabled for online replacement.

Making matters worse, SSA offices that previously allowed document drop-offs (eliminating half the risk of loss/delay in USmail) no longer provide that option.
Last edited by tibbitts on Sat Jun 12, 2021 12:08 am, edited 1 time in total.
TravelGeek
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Re: No SS card no access to new ETrade account

Post by TravelGeek »

SGM wrote: Fri Jun 11, 2021 12:25 pm My child was unable to set up a SS myaccount so he mailed two forms of ID, He cannot apply for a job since those IDs are not yet returned from SS.
He physically mailed two forms of ID to the SSA? (like passport and drivers license)

Is that what they requested?
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Re: No SS card no access to new ETrade account

Post by tibbitts »

TravelGeek wrote: Sat Jun 12, 2021 12:08 am
SGM wrote: Fri Jun 11, 2021 12:25 pm My child was unable to set up a SS myaccount so he mailed two forms of ID, He cannot apply for a job since those IDs are not yet returned from SS.
He physically mailed two forms of ID to the SSA? (like passport and drivers license)

Is that what they requested?
My experience has been that SSA requires the original of at least one of those two forms of ID. As I mentioned these items have to be USmailed to SSA, they can no longer be dropped off at an SSA office as was previously the case.
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Re: No SS card no access to new ETrade account

Post by tibbitts »

David Jay wrote: Fri Jun 11, 2021 10:15 am Last I knew, US born individuals can get a new card issued online through their “My Social Security” account.

Create a “My Social Security” account here: https://www.ssa.gov/
Not if you live in one of the several states where that capability doesn't exist. I don't know how to get an explanation of what if any progress is being made for residents of those states, or whether the problem is on the SSA end or the state end.
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Re: No SS card no access to new ETrade account

Post by TravelGeek »

tibbitts wrote: Sat Jun 12, 2021 12:11 am My experience has been that SSA requires the original of at least one of those two forms of ID. As I mentioned these items have to be USmailed to SSA, they can no longer be dropped off at an SSA office as was previously the case.
Ok, so Google led me here:

https://blog.ssa.gov/replacement-or-cor ... -pandemic/
Applying by Mail

We require proof of your identity with your replacement card application, usually a State-issued drivers’ license or non-driver identification card, or U.S. passport. We call these documents “primary” identity proofs. We understand mailing primary identity proofs with your replacement card application can be challenging. To help, we are temporarily expanding our policy to accept alternative identity documents—or what we call “secondary proofs”—when you cannot mail primary proof.

Acceptable secondary proofs include, but are not limited to:

Employee identification card.
School identification card.
Health insurance card (not a Medicare card).
U.S. military identification card.
These proofs must be current (not expired), show your name and identifying information (such as your date of birth or age), and be an original or a certified copy.
Frankly, it is pretty insane to ask people to mail physical original documents. Who has “spare” documents they don’t need? (“sorry, officer, the USPS has my drivers license on the slow boat to the SSA”).

On the other hand, I have a ton of financial accounts and to the best of my knowledge never had to provide a copy of my Social Security card when opening the accounts. Since the OP’s son couldn’t open a MySSA account online, maybe there is a connection and there isn’t enough information available in public databases that would allow banks and the SSA to identify him.
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Re: No SS card no access to new ETrade account

Post by tibbitts »

TravelGeek wrote: Sat Jun 12, 2021 12:23 am
tibbitts wrote: Sat Jun 12, 2021 12:11 am My experience has been that SSA requires the original of at least one of those two forms of ID. As I mentioned these items have to be USmailed to SSA, they can no longer be dropped off at an SSA office as was previously the case.
Ok, so Google led me here:

https://blog.ssa.gov/replacement-or-cor ... -pandemic/
Applying by Mail

We require proof of your identity with your replacement card application, usually a State-issued drivers’ license or non-driver identification card, or U.S. passport. We call these documents “primary” identity proofs. We understand mailing primary identity proofs with your replacement card application can be challenging. To help, we are temporarily expanding our policy to accept alternative identity documents—or what we call “secondary proofs”—when you cannot mail primary proof.

Acceptable secondary proofs include, but are not limited to:

Employee identification card.
School identification card.
Health insurance card (not a Medicare card).
U.S. military identification card.
These proofs must be current (not expired), show your name and identifying information (such as your date of birth or age), and be an original or a certified copy.
Frankly, it is pretty insane to ask people to mail physical original documents. Who has “spare” documents they don’t need? (“sorry, officer, the USPS has my drivers license on the slow boat to the SSA”).

On the other hand, I have a ton of financial accounts and to the best of my knowledge never had to provide a copy of my Social Security card when opening the accounts. Since the OP’s son couldn’t open a MySSA account online, maybe there is a connection and there isn’t enough information available in public databases that would allow banks and the SSA to identify him.
The real point is that SSA has decided that it will be impractical for a significant portion of the U.S. population to obtain a replacement social security card. When I called SSA and asked, SSA indeed suggested "you probably won't need your driver's license" while they were processing my request for a replacement card. I no longer have any of the alternative documents SSA allows - and when I did, none of them contained the information SSA requires.

It's been more than a month since I've contacted SSA - and essentially given up. I have since read this regarding SSA supposedly recognizing that providing original documents is a problem:

https://www.investmentnews.com/social-s ... ces-207108

However I haven't found any information about this, or changes to the description of replacing a card, on the SSA's website. So unless actual changes occur I'm assuming it will be impractical to replace a social security card indefinitely, unless you live in one of the "preferred" states.
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Re: No SS card no access to new ETrade account

Post by dbr »

TravelGeek wrote: Sat Jun 12, 2021 12:23 am

On the other hand, I have a ton of financial accounts and to the best of my knowledge never had to provide a copy of my Social Security card when opening the accounts. Since the OP’s son couldn’t open a MySSA account online, maybe there is a connection and there isn’t enough information available in public databases that would allow banks and the SSA to identify him.
I don't believe I have ever had to produce the original physical SS card since I first obtained it sixty years ago. Apparently it happens though, and getting a replacement can be a problem, evidently.
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Re: No SS card no access to new ETrade account

Post by TravelGeek »

tibbitts wrote: Sat Jun 12, 2021 12:39 am The real point is that SSA has decided that it will be impractical for a significant portion of the U.S. population to obtain a replacement social security card. When I called SSA and asked, SSA indeed suggested "you probably won't need your driver's license" while they were processing my request for a replacement card. I no longer have any of the alternative documents SSA allows - and when I did, none of them contained the information SSA requires.
Fortunately I have a brand-new card that I got a couple of years ago. I had to visit my local SSA office and show some documents, but it arrived after a few weeks and is safely stored in our home safe (and digitally in the password manager as a scanned image). I don’t understand why they don’t offer the same process today. Covid is a silly excuse - SSA services are just as essential (and risky for staff and citizens) as the post office where I would have to take my drivers license to mail via certified/registered mail.

The list of alternative documents has none that would work for me:

- employee identification card has just my photo and name (and an NFC chip) and employers would presumably not want people to mail that away

- don’t have a school ID

- my health insurance card doesn’t have my age or DOB

- don’t have a military ID

If I was facing this issue, I would be looking for in person appointments and also make sure my congressional representatives are aware of this ridiculous process.
tibbitts wrote: Sat Jun 12, 2021 12:39 am I have since read this regarding SSA supposedly recognizing that providing original documents is a problem:

https://www.investmentnews.com/social-s ... ces-207108
Geniuses.

But thanks for sharing that.
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Re: No SS card no access to new ETrade account

Post by userwithconcern »

fortunefavored wrote: Fri Jun 11, 2021 10:19 am I had this happen at etrade too - an account just disappeared one day. With no notification or communication at all.

It falls under "know your customer" - which is a federal law. There is no way around it.

In my case, they required a driver's license with my address printed on it. In my state, they do not update your physical card when you move. My only option was to report my driver's license lost/stolen and pay for a new one.

Sorry.
How long after account opening was this? What do you mean by "one day"? Was this long after the account was opened?
Katietsu
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Joined: Sun Sep 22, 2013 1:48 am

Re: No SS card no access to new ETrade account

Post by Katietsu »

TravelGeek wrote: Sat Jun 12, 2021 10:40 am
tibbitts wrote: Sat Jun 12, 2021 12:39 am The real point is that SSA has decided that it will be impractical for a significant portion of the U.S. population to obtain a replacement social security card. When I called SSA and asked, SSA indeed suggested "you probably won't need your driver's license" while they were processing my request for a replacement card. I no longer have any of the alternative documents SSA allows - and when I did, none of them contained the information SSA requires.
Fortunately I have a brand-new card that I got a couple of years ago. I had to visit my local SSA office and show some documents, but it arrived after a few weeks and is safely stored in our home safe (and digitally in the password manager as a scanned image). I don’t understand why they don’t offer the same process today. Covid is a silly excuse - SSA services are just as essential (and risky for staff and citizens) as the post office where I would have to take my drivers license to mail via certified/registered mail.

The list of alternative documents has none that would work for me:

- employee identification card has just my photo and name (and an NFC chip) and employers would presumably not want people to mail that away

- don’t have a school ID

- my health insurance card doesn’t have my age or DOB

- don’t have a military ID

If I was facing this issue, I would be looking for in person appointments and also make sure my congressional representatives are aware of this ridiculous process.

tibbitts wrote: Sat Jun 12, 2021 12:39 am I have since read this regarding SSA supposedly recognizing that providing original documents is a problem:

https://www.investmentnews.com/social-s ... ces-207108
Geniuses.

But thanks for sharing that.
Thanks tibbett’s. I will try to reach my local office Monday. A family member has just been hoping that the SSA offices would open before they need their card. They were planning to go in the week after the shutdown, so have been waiting for 16 months. And, yes, I too was told in a casual tone that being without the license for a few weeks would probably not be a problem. The processing was crazy too. We would have to send the documents to a location about 80 miles away where they received but did not process the requests. The documents would then be mailed to the office closest to the home address, just a few miles from our house, for our local staff to process. I do not know if they would then come directly back to us or would need another layover.

FYI, I was told that you could only do an appointment after proving extreme need and, even then, you would need to travel to that central processing site. I am hoping that the information from tibbetts is accurate that they are finally moving forward with appts at all locations and in less dire circumstances.
tibbitts
Posts: 18758
Joined: Tue Feb 27, 2007 5:50 pm

Re: No SS card no access to new ETrade account

Post by tibbitts »

Katietsu wrote: Sat Jun 12, 2021 11:35 am FYI, I was told that you could only do an appointment after proving extreme need and, even then, you would need to travel to that central processing site. I am hoping that the information from tibbetts is accurate that they are finally moving forward with appts at all locations and in less dire circumstances.
Although the article seemed to say SSA was aware of the issue, I still haven't found any acknowledgement on their website (which now has at least one broken link related to replacing a card.)

While the pandemic office closure policy took about two microseconds to "trickle down" to the local offices, I'm guessing that the limited re-opening policy described may take months or years to do the same.
SnowBog
Posts: 3826
Joined: Fri Dec 21, 2018 10:21 pm

Re: No SS card no access to new ETrade account

Post by SnowBog »

tibbitts wrote: Sat Jun 12, 2021 1:19 pm
Katietsu wrote: Sat Jun 12, 2021 11:35 am FYI, I was told that you could only do an appointment after proving extreme need and, even then, you would need to travel to that central processing site. I am hoping that the information from tibbetts is accurate that they are finally moving forward with appts at all locations and in less dire circumstances.
Although the article seemed to say SSA was aware of the issue, I still haven't found any acknowledgement on their website (which now has at least one broken link related to replacing a card.)

While the pandemic office closure policy took about two microseconds to "trickle down" to the local offices, I'm guessing that the limited re-opening policy described may take months or years to do the same.
For what it's worth, I sent them a passport and birth certificate. (Might have had to send a utility bill for current address, can't recall).

Other than applying for a marriage license, can't think of anything that "needs" a birth certificate.

And we don't have any plans to travel outside US in 2021, so didn't "need" a passport in my possession.

This avoided my needing to send them my Driver's License, which is needed lots of places...

I sent them in early this year, took months to get everything returned... But I did eventually get replacement SS and returned original documents.
fortunefavored
Posts: 1168
Joined: Tue Jun 02, 2015 8:18 pm

Re: No SS card no access to new ETrade account

Post by fortunefavored »

userwithconcern wrote: Sat Jun 12, 2021 11:05 am
fortunefavored wrote: Fri Jun 11, 2021 10:19 am I had this happen at etrade too - an account just disappeared one day. With no notification or communication at all.

It falls under "know your customer" - which is a federal law. There is no way around it.

In my case, they required a driver's license with my address printed on it. In my state, they do not update your physical card when you move. My only option was to report my driver's license lost/stolen and pay for a new one.

Sorry.
How long after account opening was this? What do you mean by "one day"? Was this long after the account was opened?
I had a brokerage account for probably a year or two, then opened a new account (an IRA) - a month or so later.. poof, disappeared.

It was quite alarming given there was no electronic or paper trail of their actions. Account was just gone, into the ether.
tibbitts
Posts: 18758
Joined: Tue Feb 27, 2007 5:50 pm

Re: No SS card no access to new ETrade account

Post by tibbitts »

SnowBog wrote: Sat Jun 12, 2021 1:29 pm
tibbitts wrote: Sat Jun 12, 2021 1:19 pm
Katietsu wrote: Sat Jun 12, 2021 11:35 am FYI, I was told that you could only do an appointment after proving extreme need and, even then, you would need to travel to that central processing site. I am hoping that the information from tibbetts is accurate that they are finally moving forward with appts at all locations and in less dire circumstances.
Although the article seemed to say SSA was aware of the issue, I still haven't found any acknowledgement on their website (which now has at least one broken link related to replacing a card.)

While the pandemic office closure policy took about two microseconds to "trickle down" to the local offices, I'm guessing that the limited re-opening policy described may take months or years to do the same.
For what it's worth, I sent them a passport and birth certificate. (Might have had to send a utility bill for current address, can't recall).

Other than applying for a marriage license, can't think of anything that "needs" a birth certificate.

And we don't have any plans to travel outside US in 2021, so didn't "need" a passport in my possession.

This avoided my needing to send them my Driver's License, which is needed lots of places...

I sent them in early this year, took months to get everything returned... But I did eventually get replacement SS and returned original documents.
Even if you have a passport, there's no way I would have sent it via USmail to SSA. Having already replaced a lost passport once, it's a time-consuming and expensive process. The odds of loss, while not high, are more than what I'd be comfortable with. And while I don't have plans currently to travel outside the U.S. this year, one reason I have a passport (and replaced it this year, a year ahead of time) is to have the option of traveling outside the U.S. without necessarily much notice.
userwithconcern
Posts: 188
Joined: Mon Dec 23, 2019 11:35 am

Re: No SS card no access to new ETrade account

Post by userwithconcern »

fortunefavored wrote: Sat Jun 12, 2021 1:43 pm
userwithconcern wrote: Sat Jun 12, 2021 11:05 am
fortunefavored wrote: Fri Jun 11, 2021 10:19 am I had this happen at etrade too - an account just disappeared one day. With no notification or communication at all.

It falls under "know your customer" - which is a federal law. There is no way around it.

In my case, they required a driver's license with my address printed on it. In my state, they do not update your physical card when you move. My only option was to report my driver's license lost/stolen and pay for a new one.

Sorry.
How long after account opening was this? What do you mean by "one day"? Was this long after the account was opened?
I had a brokerage account for probably a year or two, then opened a new account (an IRA) - a month or so later.. poof, disappeared.

It was quite alarming given there was no electronic or paper trail of their actions. Account was just gone, into the ether.
Thank you for responding. Did only the new account disappear or did both the new and the old accounts disappear?
fortunefavored
Posts: 1168
Joined: Tue Jun 02, 2015 8:18 pm

Re: No SS card no access to new ETrade account

Post by fortunefavored »

userwithconcern wrote: Sat Jun 12, 2021 4:00 pm
fortunefavored wrote: Sat Jun 12, 2021 1:43 pm
userwithconcern wrote: Sat Jun 12, 2021 11:05 am
fortunefavored wrote: Fri Jun 11, 2021 10:19 am I had this happen at etrade too - an account just disappeared one day. With no notification or communication at all.

It falls under "know your customer" - which is a federal law. There is no way around it.

In my case, they required a driver's license with my address printed on it. In my state, they do not update your physical card when you move. My only option was to report my driver's license lost/stolen and pay for a new one.

Sorry.
How long after account opening was this? What do you mean by "one day"? Was this long after the account was opened?
I had a brokerage account for probably a year or two, then opened a new account (an IRA) - a month or so later.. poof, disappeared.

It was quite alarming given there was no electronic or paper trail of their actions. Account was just gone, into the ether.
Thank you for responding. Did only the new account disappear or did both the new and the old accounts disappear?
Only the new one - maybe due to being retirement vs. brokerage? They would not explain the criteria either.
userwithconcern
Posts: 188
Joined: Mon Dec 23, 2019 11:35 am

Re: No SS card no access to new ETrade account

Post by userwithconcern »

fortunefavored wrote: Sat Jun 12, 2021 4:02 pm Only the new one - maybe due to being retirement vs. brokerage? They would not explain the criteria either.
After reading your post, I was concerned that even a brokerage account someone has had for several years might just disappear one day if the brokerage suddenly deems some paperwork lacking. It sounds like that was not the case here at least.
SnowBog
Posts: 3826
Joined: Fri Dec 21, 2018 10:21 pm

Re: No SS card no access to new ETrade account

Post by SnowBog »

tibbitts wrote: Sat Jun 12, 2021 3:39 pm
SnowBog wrote: Sat Jun 12, 2021 1:29 pm
tibbitts wrote: Sat Jun 12, 2021 1:19 pm
Katietsu wrote: Sat Jun 12, 2021 11:35 am FYI, I was told that you could only do an appointment after proving extreme need and, even then, you would need to travel to that central processing site. I am hoping that the information from tibbetts is accurate that they are finally moving forward with appts at all locations and in less dire circumstances.
Although the article seemed to say SSA was aware of the issue, I still haven't found any acknowledgement on their website (which now has at least one broken link related to replacing a card.)

While the pandemic office closure policy took about two microseconds to "trickle down" to the local offices, I'm guessing that the limited re-opening policy described may take months or years to do the same.
For what it's worth, I sent them a passport and birth certificate. (Might have had to send a utility bill for current address, can't recall).

Other than applying for a marriage license, can't think of anything that "needs" a birth certificate.

And we don't have any plans to travel outside US in 2021, so didn't "need" a passport in my possession.

This avoided my needing to send them my Driver's License, which is needed lots of places...

I sent them in early this year, took months to get everything returned... But I did eventually get replacement SS and returned original documents.
Even if you have a passport, there's no way I would have sent it via USmail to SSA. Having already replaced a lost passport once, it's a time-consuming and expensive process. The odds of loss, while not high, are more than what I'd be comfortable with. And while I don't have plans currently to travel outside the U.S. this year, one reason I have a passport (and replaced it this year, a year ahead of time) is to have the option of traveling outside the U.S. without necessarily much notice.
While not ideal, options were limited... I made the best of those limited options.
Makefile
Posts: 2417
Joined: Fri Apr 22, 2016 11:03 pm

Re: No SS card no access to new ETrade account

Post by Makefile »

mhalley wrote: Fri Jun 11, 2021 8:40 pm I am aghast that would ignore their financial accounts for five years.
Yeah. I think it's a temperament thing. I took over my own financial life, opened bank account, etc. at age 18 as I suspect many in the demographic to post here did. The situations here would have kept me up at night even in my early 20s.
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BolderBoy
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Location: Colorado

Re: No SS card no access to new ETrade account

Post by BolderBoy »

Grt2bOutdoors wrote: Fri Jun 11, 2021 11:45 am
livesoft wrote: Fri Jun 11, 2021 11:39 am
BolderBoy wrote: Fri Jun 11, 2021 11:26 am Oh. Is this an ETrade-specific requirement?
I think it is a specific P.A.T.R.I.O.T. Act requirement.
It’s part of the AML/KYC requirements under the 2001 USA Patriot Act. AML = Anti Money Laundering. KYC = Know Your Customer.

It’s serious stuff, so serious that firms which fail to comply with the regulations can be fined for each day they are in violation and they can lose their license to operate and they can be criminally charged. It’s no joke.
Okay. I didn't have to provide that when I opened a Chase savings account last year. Perhaps it is account-type specific requirement?
"Never underestimate one's capacity to overestimate one's abilities" - The Dunning-Kruger Effect
RetiredAL
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Joined: Tue Jun 06, 2017 12:09 am
Location: SF Bay Area

Re: No SS card no access to new ETrade account

Post by RetiredAL »

BolderBoy wrote: Sat Jun 12, 2021 9:23 pm
Grt2bOutdoors wrote: Fri Jun 11, 2021 11:45 am
livesoft wrote: Fri Jun 11, 2021 11:39 am
BolderBoy wrote: Fri Jun 11, 2021 11:26 am Oh. Is this an ETrade-specific requirement?
I think it is a specific P.A.T.R.I.O.T. Act requirement.
It’s part of the AML/KYC requirements under the 2001 USA Patriot Act. AML = Anti Money Laundering. KYC = Know Your Customer.

It’s serious stuff, so serious that firms which fail to comply with the regulations can be fined for each day they are in violation and they can lose their license to operate and they can be criminally charged. It’s no joke.
Okay. I didn't have to provide that when I opened a Chase savings account last year. Perhaps it is account-type specific requirement?
BB - Your name-rank-serialnumber was most likely instantly validated by a credit bureau when Chase checked. The OP's post was about his child, who because of age, likely did not have an adequate enough record at the credit bureau, so his account got restricted until he could prove who he was. As others have said, it's all about the Patriot Act compliance.
Grt2bOutdoors
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Joined: Thu Apr 05, 2007 8:20 pm
Location: New York

Re: No SS card no access to new ETrade account

Post by Grt2bOutdoors »

BolderBoy wrote: Sat Jun 12, 2021 9:23 pm
Grt2bOutdoors wrote: Fri Jun 11, 2021 11:45 am
livesoft wrote: Fri Jun 11, 2021 11:39 am
BolderBoy wrote: Fri Jun 11, 2021 11:26 am Oh. Is this an ETrade-specific requirement?
I think it is a specific P.A.T.R.I.O.T. Act requirement.
It’s part of the AML/KYC requirements under the 2001 USA Patriot Act. AML = Anti Money Laundering. KYC = Know Your Customer.

It’s serious stuff, so serious that firms which fail to comply with the regulations can be fined for each day they are in violation and they can lose their license to operate and they can be criminally charged. It’s no joke.
Okay. I didn't have to provide that when I opened a Chase savings account last year. Perhaps it is account-type specific requirement?
You were not required to provide a social security number and drivers license?
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions
tibbitts
Posts: 18758
Joined: Tue Feb 27, 2007 5:50 pm

Re: No SS card no access to new ETrade account

Post by tibbitts »

I have an update to my SS card replacement saga. Today I called the local SSA office and they have reopened. But despite the promotion of "Express" appointments for the specific purpose of obtaining a replacement card, my need for a replacement is insufficient to warrant being allowed inside. However, the office drop box has just reopened! And, the rep told me that I could use a "certified" medical record extract for my ID. Which apparently means any document identifying a medical office (like letterhead or heading), having my name and my d.o.b, and being signed (by pen in ink - not a preprinted signature) by any office employee. It does have to contain a one-line statement preceding the signature:

"I certify that the information contained in this document is accurate."

And the office person signing has to print their name as well.

So I called my most-recently-visited Dr.'s office, which had never had such a request and probably thought I was crazy, and they're trying see what they can come up with. I'll try to remember to post back with the outcome in a couple of weeks if this actually works.
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