I wouldn't either, except the government doesn't seem to take a 'hands-off' approach to MY banking Have you tried to open a savings account lately? You need an amazing amount of evidence of who you are, where you live, how long you've been there, etc to get the bank to agree to hold your money. I'm into 3 1/2 weeks now getting a savings account set up with an out-of-town bank, as they keep asking for more and more documents and answers (and of course, they forget abut us for days at a time). I seem to recall needing a fair amount of documentation to set up my checking account too a couple years ago.
I fail to see how illegal aliens are getting bank accounts, which qualify them for credit cards, when it's so hard for citizens to get them any more.
Since it is happening, and in some areas a lot, it is no leap of logic to assume that the laws you and I are being subjected to are not being applied with the same vigor to illegals. How much is probably difficult to say, but far too much is for certain.
That's my question too, having recently opened a new checking account at the local branch of a large multi-state bank. SSNs, two photo IDs, address verifying, my non-citizen wife had to prove her legal residency status, and the bank rep assuring us this was all due to the Patriot Act.
So how are illegal aliens getting the checking accounts? Either they are committing fraud (no big deal for them) or BofA is bending requirements, or both.