Why Would I Be Asked For My Social Security Number During My Registration?

Stripe Must Verify Your Identity

Because we use Stripe as our third-party credit card processing company, they have their own requirements when you make your Stripe account. Their policy is stated below:

Stripe is required to verify your identity and confirm the legitimacy of your business, as it is part of our responsibilities to our financial partners. This is also typically known as "Know Your Customers" (KYC) regulations. To do this, Stripe needs your Social Security Number and date of birth. Usually, this information is enough for Stripe to verify your identity. In some cases though, Stripe will need your full SSN in order to successfully verify your identity. This can happen if the information you've provided does not exactly match what is entered with the IRS or Social Security Administration. This can also happen if you've received a large enough amount through direct deposit and Stripe is unable to verify your identity based on the information provided so far. We understand that your Social Security Number is confidential information.

 

For more information, please view Stripe's support page here: https://support.stripe.com/questions/date-of-birth-and-last-4-digits-of-social-security-number-ssn-requirement-for-us-stripe-accounts