Opening Your Account

When you open a Painless1099 account, you’re opening a new smart savings account, entirely in your name. This means you, and only you, have complete control over what happens to the money in your Painless1099 account.

In this article, you’ll learn what you need to get started with Painless1099 and how to open your account. 


Things to know before opening your account:

  • You’ll need a driver’s license (or state ID) and social security number to safely open a Painless1099 account.
  • Although Painless1099 accounts may feel like a business account, we’re only able to open accounts on behalf of individuals and not businesses. This means that you’ll have to use your SSN as opposed to EIN.
  • You’ll have to provide your current residential address, this does not include PO boxes.

Creating Your Profile

The first step to opening your Painless1099 account creating a profile. This profile consists of an email and password that you'll use to log into your Painless1099 account.

  1. Enter your email and create a password
  2. Check the box to agree to the Terms of Service & Privacy Policy
  3. Select Create Account

Once you're done, we’ll send you an activation email with a link to activate your profile and continue opening your account.

Note: The activation email may take a few minutes to arrive. If you still don’t see it after a few minutes, try checking your spam folder - occasionally email providers get a little confused and send us to spam.

Note: Email is the primary source of communication so we recommend registering with an email that you regularly check.

Opening Your Account

The first time you log into your profile, we’ll need to collect some of your information in order to open your new savings account. You'll need your driver's license and social security number to complete this step. If you don’t have these on hand, don’t worry, you can always come back finish later.

Here's a breakdown on how we use this information:


Your name is the first step in establishing your identity with Painless1099. The name you provide is attached to your Painless1099 account and lets us know how to address you.

Date of Birth

Your birthday is used to further confirm your identity and to ensure that you’re 18+ years old and eligible to use Painless1099.

Phone Number

We’ll rarely(if ever)contact you by phone, but we may need to give you a ring every now and then  with updates regarding your Painless1099 account.

Mailing Address

Federal law (USA PATRIOT Act of 2001) requires us to collect the address of anyone opening a new bank account. In short, this information helps us verify and protect your identity. To get the full scoop, read more here.

Driver’s License (or State ID) Information

We use your driver's license to make sure you are who you say you are. This helps us safely and accurately get your new Painless1099 bank account set up. If you don’t have a driver’s license (or State ID), you’re not eligible to use Painless1099.

Social Security Number

Because Painless1099 is opening a bank account, we are required by federal law (USA PATRIOT Act of 2001) to collect your social security number. This is to help prevent and stop known terrorists or launders from moving money illegally. You can learn more about these requirements here.

Note: Your privacy is our priority. Painless1099 uses bank-level security at every step of the way. This starts at the strongest available browser encryption and extends to our secure servers all the way to our identity verification services, FDIC insurance, and other robust security elements.

After you’ve entered this information, click Complete to move on to Verify Your Identity.

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