Why does Wise need my ssn

Wise needs your SSN to verify your identity and meet US federal rules, including the Bank Secrecy Act, the USA Patriot Act and Know Your Customer (KYC) requirements.

These laws require financial services to confirm who their customers are, which helps prevent money laundering, fraud and other financial crime.

• Who is asked: If you live in the US, Wise may ask for your Social Security Number or an Individual Taxpayer Identification Number (ITIN) when you order a Wise debit card, send USD transfers or open USD account details.
• No credit check: Wise states that it uses the SSN only for identity verification and does not run a credit check.
• One-time step: Wise describes US verification as a one-time process.
• How the number is handled: Wise says it does not share your number or keep a copy of your social security card, and it uses encryption and internal access controls to protect customer data.

The SSN request is about identity checks for US residents, which is a separate matter from comparing fees and features such as Wise vs PayPal for international payments.

• ITIN: If you do not have an SSN, you may be able to give an ITIN instead.
• Photo ID and selfie: Some users can verify with a photo ID and a selfie rather than a tax number.

If a feature you want stays locked, check the verification section of your Wise account to see which details are still needed.