Is it legal to create a bank account under a pseudonym?

Question

If I didn't want publishers to know who I was?

Answer 1

You're better off making it a condition of any contract that the publishers not reveal who you are. Alternatively, work through an agent who won't reveal who you are.

It's perfectly possible to publish using a pseudonym, but in this anti-privacy culture we live in, there's a morbid curiosity about why anyone would want to.

Answer 2

So, I take it that you want your publishers to write a check to you under your pen name, and you're afraid that you won't be able to cash the checks if the bank only has your real name, right?

I'm pretty sure the PATRIOT Act in the US makes it pretty hard to open an account under an alias... if the government found out, or the bank wasn't able to properly verify your identity, they could seize your assets until they find out who you really are.

There are at least a few things that can be done to get around the situation with the publisher, though. One, a bank can establish an account under your real name and then list any applicable pseudonyms or alternate names for you in their database.

The other option would be to establish a business or dba (doing business as). A dba account may be the best bet for your purposes, as the bank could title your account "Jon Smith DBA Your Pseudonym" and then cash the checks without your publisher being any the wiser.

If they're doing a direct deposit, though.... it gets a little more complicated.

Answer 3

No, you can't do that.

As mentioned by others, the law makes that basically impossible. They bank has to have identification in order to open an account for you.

Why wouldn't you want the publisher to know who you really are? They need to know your real name even if you publish under a pen name-- you just give them both.

Honestly, by your question I'm not sure that you are ready to be dealing with publishers yet. This is a business, and getting paid by publisher is like getting paid for any other job. Tax laws are applicable.

Keep reading and practicing before you worry about this stuff.

Answer 4

Hmm a lot of US answers here, don't know if you are a from USA as I see this in YahooUK, however what you could do is use your legal representatives as a payment conduit assuming you are UK based.

For instance make an agreement with your solicitor to accept payments on your behalf. As you are an author and not PAYE, as long as you reciept and declare all monies received this way to the Inland Revenue I don't see how it would be a problem.

Likely your solicitor would charge you for this, but what that comes down to what price you put on your anonymity.

If you created a company to recieve the monies, your name would have to be publically listed as you would be a Director. This information is easily available from companies house in London.

Lastly, find a friend who doesn't mind accepting the payment for you, ask for your work to be published anon. and then draw up a legal agreement between you, again make sure all is receipted and declared.

Answer 5

No, but you can create a paper corporation, then have the checks deposited to your corporation account instead of your own personal bank account. You can incorporate in Delaware over the phone for a little bit of money. A paper corporation is a legal institution in the US, Delaware corporations are popular because they have relaxed requirements as to minimum officers listed, residence requirements, etc. Your corporation is going to be a mailbox at a lawyer's office somewhere in Wilmington.

As for your publisher knowing who you are: they have to, or they won't sign you up.

Answer 6

You must have no intention to defraud, and the bank must know what you are doing.

A writer friend of mine has a nom-de-plume that she uses, and gets cheques sent to her in that name. She can certainly cash them, but I don't know if it's into a pseudonymous bank account, or if she has an agreement with her bank that they will let cheques in that name be credited to her regular account.

The best thing to do is to talk to your bank manager - it's probably at their discretion in the end. It would help if you could show them some published work in your pen name (and proof that you wrote it, of course).

Answer 7

You can call the bank account anything you want to, but it has to be registered in your name.

e.g my friend opened a bank account called '18th birthday fund', so all cheques where made payable to that. The account however was registered under her name however.

I'd go and have a chat to your bank manager about it - as long as the account could be traced back to you, I don't see what the problem would be.

Answer 8

You need to have photo ID and proof of address, such as utility bill. Credit checks are also completed by many banks to verify your standing. I do not understand why you need to keep your name secret from your publisher, you can simply write under any old name so long as its not been used by someone else of course, Off shore banking is also not of use, you still have to prove who you are, they do of course, keep your ID confidential, Cayman Islands is no different, even accounts with banks in Beirut, Belize, and any other off shore country for banking, still need to show some form of ID such as passport copy and the copy will more often then not, be required to be a certified copy, one signed off by a lawyer, judge etc

Answer 9

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Answer 10

No. With the passing of the PATRIOT ACT, banks are now required to positively ID and verify each person they open an account for. This means you have to show and prove your name, address, date of birth and social security number. The bank will also require you to show your government issued photo ID.