Can I Use a CPN to Open a Bank Account
We get the question "Can I Use a CPN to Open a Bank Account" and here's what you need to know!

Last Updated: February 17, 2022
Date Published: February 16, 2022
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With more companies claiming that they are selling CPN’s as replacements for SSN’s, more and more people are wondering if they can use a CPN to Open a Bank Account.

The answer is NO, and in this article we are going to explain why you should steer clear of purchasing a CPN.

CPN is an acronym for Credit Privacy Number or Credit Profile Number.

CPN’s are formatted just like a Social Security Number with a 9-digit format as follows: XXX-XX-XXXX.

Companies that sell CPN’s claim that they can be used to hide a bad credit history or they claim that a CPN can be used as a new social security number.

The IRS (Internal Revenue Service) uses taxpayer identification numbers and there are only two types of taxpayer identification numbers that individuals have: a Social Security Number or Individual Taxpayer Identification Number.

SSN’s are issued to residents of the United States while ITINs are issued by the IRS under special circumstances for some non-resident and resident aliens, their spouses and dependents who can’t get SSNs.

CPN’s are simply nine-digit numbers that resemble SSN’s or ITIN’s.

Can I Use a CPN to Open a Bank Account?

No, You Cannot Use a CPN to Open a Bank Account.

CPN is not issued by the Social Security Administration and therefore cannot be used in lieu of a SSN or ITIN.

First of all, we need to mention that trying to hide a negative credit history by using a CPN and withholding your Social Security Number is actually illegal.

In fact, it is a federal crime.

Image Source: Frankonfraud.com

So using a CPN to open a bank account in lieu of your actual social security number is a federal crime.

Furthermore, lying on a bank account application is also a federal crime and is punishable by jail time.

If you are a business owner, obtaining a SSN or EIN for your business is free, while a CPN could cost you thousands of dollars.

If using a CPN can be fraudulent, you may be wondering how they are even allowed.

A CPN on a bank statement is used to simply identify the account holder and tie them to their credit record.

For individuals, the CPN is actually the same as their SSN.

When you apply for a bank account, they will ask you for your SSN and that is what will be called your “CPN” on your bank statement.

CPN and SSN are one in the same on a bank statement.

So as you can see, simply purchasing a new CPN does not actually wipe away or replace your old SSN and using a CPN as a SSN on a bank application is the same as providing false information.

The only entity that can issue a new SSN is the IRS and only under very specific circumstances:

  • Somehow the same SSN is being used by more than one person
  • Sequential SSN’s assigned to family members are causing confusion
  • A victim of identity theft needs a new SSN
  • Someone’s life is in danger
  • There is a religious objection to certain number sequences in your SSN

Even in the above mentioned circumstances, it is difficult to obtain a new SSN and a bad credit score or criminal record is never a qualified reason for obtaining a new SSN.

If you are having issues with bank applications, loan applications, or other applications – obtaining a CPN to apply for these items is not the answer and could actually get you into trouble.

Instead focus on fixing your credit and clearing up your history.

There is absolutely no good reason for anyone to ever buy a CPN number.