Cheese has announced that it is expanding access to its banking services by offering alternative methods of identification to open an account for customers without social security numbers.
As an alternative to sharing a social security number, Cheese will also consider applicants who provide a current visa and valid passport as alternative identification along with a valid established U.S. address. Prospective customers can offer one of the seven valid visas if they do not have a social security number.
“I am so proud and gratified to be introducing a digital banking platform that can be accessed with alternative identification. This has been the number one priority for Cheese since our inception. As an immigrant who came to the U.S. with a student visa, I have experienced firsthand how requiring a social security number means a lot of people who get shut out of financial services. Providing a platform that welcomes immigrants as well as non-immigrants opens the doors for everyone,” said Ken Lian, CEO and co-founder of Cheese.
Lian added, “Fintechs generally don’t offer banking platforms without requiring social security numbers because it’s a very complex process from both a regulatory and technological standpoint. We moved mountains to make this happen but did so because it’s a crucial step forward in the next generation of financial access if it’s going to be truly inclusive and reflect today’s global community. To that end, providing more accessible credit and lending is next on our list.”
Actor Jimmy Wong, Cheese’s Chief Community Officer:
“We want diaspora communities across any background in the United States to know that they may find a challenger bank in Cheese. They will not be denied financial access or assistance because they do not have a social security number.”
