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What’s Required to Open a Monorail Account?

What do I need to open an account?

Meghann Perkins avatar
Written by Meghann Perkins
Updated over 3 weeks ago

✅ What You’ll Need:

  • About 10 minutes to complete the process

  • A valid Driver’s License, State ID, or Passport (for identity verification)

  • Bank account details with at least $100 available (to successfully fund your account and charge your monthly subscription fee)

  • Your Social Security Number (SSN) (for compliance with federal regulations)

🔹 Note: These are standard requirements across U.S. investment platforms.


⚠️ Security First:

If there’s an error with any of your information, your account may be automatically locked as a precaution.
This helps protect your identity, prevent fraud, and ensure your account is truly yours.

If you experience any issues, don't worry — just reach out to Monorail Support and we'll help you get back on track! 🇺🇸


🔒 Why We Ask for This Information:

At Monorail, we’re committed to providing a secure, compliant, and seamless investing experience.
Here’s why we need each item:


📸 Valid ID (Driver’s License, State ID, or Passport)
We’re required by law to verify your identity before you can open an investment account.
This protects you from identity theft and ensures only you can access your funds.


🏦 Bank Account Details
Linking a bank account allows you to:

  • Fund your Patriot Portfolio™

  • Handle secure transfers

  • Pay your $3 monthly subscription fee

Important: To link your bank successfully, you must have at least $100 available at the time of setup.

All bank information is protected using bank-grade encryption for your security.


🧾 Social Security Number (SSN)
Your SSN is securely collected because federal law requires it for:

  • Tax reporting (e.g., issuing Form 1099s)

  • Anti-Money Laundering (AML) and Know Your Customer (KYC) compliance

Your SSN is only used for legally required regulatory purposes and is never sold or shared.


🔄 Already Have an Investment Account Elsewhere?

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