Hello,
I have been using Wise for years and never been asked to provide SSN.
Today, I tried to make a transfer for less than $1000 and was asked to provide SSN.
Has anyone done this?
I'm a little worried to provide a very sensitive info.
Thanks,
Hello,
I have been using Wise for years and never been asked to provide SSN.
Today, I tried to make a transfer for less than $1000 and was asked to provide SSN.
Has anyone done this?
I'm a little worried to provide a very sensitive info.
Thanks,
Yes, I just made a transaction a few days ago for around $400, and was asked for my SSN. This is a requirement for financial institutions (which WISE is) so I had no qualms about giving it (it's encoded as you key the numbers in) and everything went through fine.
It's no different than providing it to a credit card company when you apply, or a bank when you open an account.
Probably some cracking down on money transfers going on. Services like Wise have become useful for moving drug proceeds and money gained from theft.
I just used Xoom, a subsidiary of PayPal to send money to a host in Italy, and used my PayPal balance to pay, never was asked for SSN.
It's a requirement for US account holders making USD transfers, to help them comply with anti money laundering regulations:
"If you live in the US, we might need your Social Security number (SSN) or Individual Taxpayer Identification Number (ITIN) when making a transfer from USD, ordering a Wise card or opening USD account details."
As I understand it, if you are uncomfortable with providing your SSN you can contact them and they may give you the option of verifying your ID in another way.