Why does Wise need my ssn

Wise requires your SSN because US regulations mandate it for identity verification and tax reporting. As a financial services provider operating in the United States, Wise must comply with Know Your Customer (KYC) and anti-money laundering laws, and the IRS requires reporting of payment transactions above certain thresholds. Your SSN helps Wise fulfill these legal obligations and issue the necessary tax forms at year-end.

If you're an Indian freelancer or exporter looking for alternatives, comparing Wise vs PayPal for international payments can help you understand different options. Skydo, as an RBI-authorised platform built specifically for Indian businesses, offers a streamlined solution for receiving foreign payments with competitive rates and full regulatory compliance, without requiring a US SSN since it operates entirely within the Indian framework.