Why do you need my social security number?

WePay uses your social security number (“SSN”) as part of its identity verification program. 

WePay verifies the identity of each user of the WePay service in order to manage risk and to comply with anti-money laundering laws. If you are acting on behalf of an entity with an EIN, WePay requires your SSN so that WePay can verify who you are and that you are authorized to act on behalf of the entity.  

  • If you are an individual or sole proprietor, WePay will use your SSN for any required tax reporting
  • If you are acting on behalf of a corporation or other organization with an Employer Identification Number (“EIN”), WePay will use the EIN for any required tax reporting

All of the information you enter on WePay is kept safe by our bank-level security measures. You can read more about the security WePay offers here.

More information regarding 1099-K reporting can be found here

 

 

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