Can You Open a Bank Account With an Expired ID?
Understand the critical role of valid identification for opening a bank account. Learn why expired IDs aren't accepted and how to get current identification.
Banks generally require valid, unexpired identification to open a new account. An expired ID typically will not be accepted. This policy helps minimize identity fraud and ensures compliance with legal obligations.
Essential Identification for Account Opening
Opening a new bank account requires specific identification documents. Financial institutions commonly require at least one form of government-issued photo identification. Acceptable primary documents include a driver’s license, a state-issued ID card, or a valid passport. These documents verify an individual’s identity.
Beyond a primary photo ID, banks usually ask for secondary forms of identification or proof of address. These might include a Social Security card or Taxpayer Identification Number, a utility bill, a lease agreement, or a credit card statement.
The Importance of Valid Identification
Banks require valid, unexpired identification for regulatory compliance and fraud prevention. Federal law mandates banks collect information to verify the identity of individuals opening financial accounts. This is part of “Know Your Customer” (KYC) guidelines, which are procedures within the financial industry designed to protect against fraud and money laundering.
These requirements stem from Anti-Money Laundering (AML) regulations, rooted in the Bank Secrecy Act (BSA). AML laws prevent the use of the financial system for illicit activities, such as money laundering and terrorist financing. By requiring current identification, banks verify who is opening an account, assess risks, and monitor transactions for suspicious activity. Failing to comply can result in substantial penalties for financial institutions.
Acquiring Valid Identification
If your current documents are expired, obtaining or renewing valid identification is necessary to open a bank account. Individuals can apply for a new driver’s license or state identification card through their state’s Department of Motor Vehicles (DMV) or equivalent agency. This process usually involves providing proof of identity, such as a birth certificate or U.S. passport, proof of Social Security number, and proof of residency. Fees for a new or renewed state ID can vary.
A U.S. passport is another option for valid identification. A new adult passport application requires Form DS-11, original proof of U.S. citizenship, a passport photo, and payment of the applicable fee. Applications for a new passport must be submitted in person at a passport acceptance facility, such as a post office. Renewal of an expired passport may be done by mail or online if eligibility criteria are met. Processing times vary, so apply well in advance.