1. Friday, November 5, 2010 - 10:39 AM
A little tidbit regarding opening an account and adding beneficiaries. They require that you provide the Social Security numbers for your beneficiaries, and will not budge from that requirement no matter what. So, if you don't have those numbers for your beneficiaries, you won't be able to add them at this bank.
Many people might have the SS numbers for their beneficiaries, but many others, such as me, do not. So, you will have to consider that. I will note, this is the ONLY bank over the many years that has refused adding my beneficiaries because I can't provide the SS numbers. Most others ask for it, but the info is either optional or, if not, they routinely just waive the requirement when I talk with a supervisor. Not Everbank.
As my own comment, I think that a wrongheaded requirement. My beneficiaries don't even need to have a SS number. Even if they do have one, it doesn't mean they should just hand it out to me or anyone else deciding to name them as beneficiary, as that is very private information. My bank doesn't even need to deal with them unless I die, and if they really want the SS number, they can require it at that time as part of the identification required to claim the funds.
Because of this requirement, I cannot do any business with Everbank. Its their loss. And mine, if they had a better offer.
Many people might have the SS numbers for their beneficiaries, but many others, such as me, do not. So, you will have to consider that. I will note, this is the ONLY bank over the many years that has refused adding my beneficiaries because I can't provide the SS numbers. Most others ask for it, but the info is either optional or, if not, they routinely just waive the requirement when I talk with a supervisor. Not Everbank.
As my own comment, I think that a wrongheaded requirement. My beneficiaries don't even need to have a SS number. Even if they do have one, it doesn't mean they should just hand it out to me or anyone else deciding to name them as beneficiary, as that is very private information. My bank doesn't even need to deal with them unless I die, and if they really want the SS number, they can require it at that time as part of the identification required to claim the funds.
Because of this requirement, I cannot do any business with Everbank. Its their loss. And mine, if they had a better offer.
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