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Friend received letter from Capital One stating they need more info, SS, to comply with Fed regulations. If not received card account "could be closed".
Did anyone else receive a 2 page letter concerning this issue? After a reread or two , 'could be closed" noted. Probably looking for a way to track non payees!
It's difficult to say whether or not this is a scam based on the info provided. Monthly Capital One statements should list a phone number for customer service. I would call customer service to discuss this issue.
Department store credit card that went from Marcus to Capital One. About two years ago the same thing happen to me & I don't recall having to provide any info to the new handler of the card.
@Derf- I'm having difficulty understanding your response on this. If Capital One is in fact requesting your SS number, the department store has absolutely no control over that. So why get upset at them?
Seems to me that your original question boils down to the legitimacy of the information request. It's either legitimate or not. That's easy to find out- call Capital One. So what's the problem?
YEARS ago, my Sears store card suddenly became a Sears MasterCard, and now just Citi Mastercard. I wasn't asked for any additional info. But Sears may have had my SSN then.
As Capital One will handle the card from now on, it makes sense to call only Capital One.
On further checking on SSN vs ITIN, one has ITIN only if not eligible for SSN. And on becoming eligible for SSN & getting one after immigration status adjustment, only SSN must be used.
@Old_Joe : Partner call department store for verification of request by Capital One. Basically trying to find out if this was a scam or not. Other info: This card is good to use at department store only.
" Seems to me that your original question boils down to the legitimacy of the information request. It's either legitimate or not. That's easy to find out- call Capital One. So what's the problem? " As Anna mentioned from above, DON"T use info from letter.
AS one ages, it doesn't take much to set the fire!
Now the county wants to establish a wheel tax. That got me a bit upset, but not on the books yet, so I let it go.
Not meant to disregard the good precautionary advice. I’d be wary too. But it occurred to me there may have been recently added to the card some “rewards” which in turn might constitute taxable income. So the request for a SS number might be for tax reporting on whatever compensation (rewards) are paid the cardholder.
I asked my AI whether a SS number can also be a taxpayer ID number:
”Yes, your Social Security Number (SSN) is a type of Taxpayer Identification Number (TIN). For most individuals in the United States, their SSN serves as their TIN for tax purposes. The SSN is issued by the Social Security Administration (SSA), while other TINs, such as the Individual Taxpayer Identification Number (ITIN) and Employer Identification Number (EIN), are issued by the Internal Revenue Service (IRS). Although the SSN is the most common TIN for U.S. citizens, permanent residents, and certain temporary residents, it is not the only type of TIN.”
There’s a lot on the internet if you do a search. This summary is from AI:
”Capital One requires your Social Security Number (SSN) primarily to verify your identity and comply with federal regulations, including anti-money laundering laws and Know Your Customer (KYC) requirements. The SSN serves as a unique identifier that helps the bank confirm that you are who you claim to be, especially when opening new accounts, making significant transactions, or resolving account issues. This practice is standard across most U.S. banks and financial institutions, particularly for cash deposits or payments made on behalf of someone else, where the bank must document the source of funds.
“Additionally, the SSN is used to verify creditworthiness when applying for credit products like credit cards or loans. While the SSN is not typically required on a passport, it is a key component of U.S. identity verification for financial and tax purposes. In some cases, Capital One may also request a taxpayer identification number (TIN), such as an Individual Taxpayer Identification Number (ITIN), especially if you are not a U.S. citizen or resident but are required to file taxes. However, for most U.S. residents, the SSN is sufficient and expected for identity verification.
*** “It is important to note that if you receive a call requesting your SSN, especially from an unknown number, it could be a scam, as legitimate banks like Capital One do not typically initiate outbound calls asking for sensitive personal information. Always verify the authenticity of such requests by contacting the bank directly using official contact information from their website or your account.”
Comments
Monthly Capital One statements should list a phone number for customer service.
I would call customer service to discuss this issue.
Is your friend trying to open a new a/c? Or, it's an existing a/c opened with ITIN and now they want SSN too?
Calling Capital One is the best.
Call that number to discuss this issue.
Seems to me that your original question boils down to the legitimacy of the information request. It's either legitimate or not. That's easy to find out- call Capital One. So what's the problem?
As Capital One will handle the card from now on, it makes sense to call only Capital One.
On further checking on SSN vs ITIN, one has ITIN only if not eligible for SSN. And on becoming eligible for SSN & getting one after immigration status adjustment, only SSN must be used.
"
Seems to me that your original question boils down to the legitimacy of the information request. It's either legitimate or not. That's easy to find out- call Capital One. So what's the problem? " As Anna mentioned from above, DON"T use info from letter.
AS one ages, it doesn't take much to set the fire!
Now the county wants to establish a wheel tax. That got me a bit upset, but not on the books yet, so I let it go.
I asked my AI whether a SS number can also be a taxpayer ID number:
”Yes, your Social Security Number (SSN) is a type of Taxpayer Identification Number (TIN). For most individuals in the United States, their SSN serves as their TIN for tax purposes. The SSN is issued by the Social Security Administration (SSA), while other TINs, such as the Individual Taxpayer Identification Number (ITIN) and Employer Identification Number (EIN), are issued by the Internal Revenue Service (IRS). Although the SSN is the most common TIN for U.S. citizens, permanent residents, and certain temporary residents, it is not the only type of TIN.”
Excellent advice from @Anna.
There’s a lot on the internet if you do a search. This summary is from AI:
”Capital One requires your Social Security Number (SSN) primarily to verify your identity and comply with federal regulations, including anti-money laundering laws and Know Your Customer (KYC) requirements. The SSN serves as a unique identifier that helps the bank confirm that you are who you claim to be, especially when opening new accounts, making significant transactions, or resolving account issues. This practice is standard across most U.S. banks and financial institutions, particularly for cash deposits or payments made on behalf of someone else, where the bank must document the source of funds.
“Additionally, the SSN is used to verify creditworthiness when applying for credit products like credit cards or loans. While the SSN is not typically required on a passport, it is a key component of U.S. identity verification for financial and tax purposes. In some cases, Capital One may also request a taxpayer identification number (TIN), such as an Individual Taxpayer Identification Number (ITIN), especially if you are not a U.S. citizen or resident but are required to file taxes. However, for most U.S. residents, the SSN is sufficient and expected for identity verification.
*** “It is important to note that if you receive a call requesting your SSN, especially from an unknown number, it could be a scam, as legitimate banks like Capital One do not typically initiate outbound calls asking for sensitive personal information. Always verify the authenticity of such requests by contacting the bank directly using official contact information from their website or your account.”
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