SS# as online banking login--does anyone know?

[StressLess]

I've done online banking with several banks now, and while some of them started out having you use your ss# as your login id, they've all changed. They all requested that you pick a new id for security reasons. I was under the impression there was a new banking regulation requiring them to let you change it--I mean, they weren't likely to go to all that trouble and expense unless it was mandatory.

Now I've opened up an account with another new bank, and they are still using the ss# as your login id--and I feel like complaining. Does anyone else's bank still use it? Anybody know of an actual regulation about it, and what types of banks it may or may not cover? Thanks!

[safari]

I don't think there is a regulation that prohibits banks from using SSN# as the login ID. For example, I use my SSN# to access my Fidelity Brokerage and 401(k) accounts. I agree that it's not a good practice.

[sweeps]

Some states have a law against it. California for example.

[safari]

Originally Posted by Sweepsplayer

Some states have a law against it. California for example.

I read the document, and it doesn't prohibit the use of SSN# as the login ID, as long as there is also a password required to login. Here is an excerpt:

Under the law’s provisions, companies may not do any of the following:
* Post or publicly display SSNs,
* Print SSNs on identification cards or badges,
* Require people to transmit an SSN over the Internet unless the connection is secure or the number is encrypted,
* Require people to log onto a web site using an SSN without a password, or
* Print SSNs on anything mailed to a customer unless required by law or the
document is a form or application.

I am in California, by the way. If Fidelity violated the Privacy Protection law, I am sure there would have been a class action suit filed a while ago.

[SavedintheCity]

Not so much a regulatory as a "best practices" issue. I don't recall any regulation prohibiting its use as an account identifier. Fidelity certainly uses it as an account login, so do many student loan companies. (Not to say that big companies don't violate regulations (cough ENRON!, cough cough)....

[TMoney]

Yes, it's definitely becoming a "best practice" initiave. Company's are now stating to see the potential danger that can come from having users use their SSN as a login name. I know at my job for the systems we develop we just pushed out a new "Security Model" that prohibits the use of SSN.

Seems like a good idea to me!

[Aleta]

I'm not comfortable using my s/s as a sign on. Even the credit card companies have only started using your last 4 digits of your credit card number.

[sweeps]

Originally Posted by safari

I read the document, and it doesn't prohibit the use of SSN# as the login ID, as long as there is also a password required to login.

Good point, I stand corrected.

Regardless I would refuse to do business with any company that used my SSN as an identification number.