Venmo is a money transfer business regulated by the United States Treasury Department. As such, we are obligated to collect certain information from our users to verify their identities.
We may ask for your SSN to verify your identity if you try to do any of the following:
- Send $300 or more in one week (rolling 7 day period)
- Transfer $1000 or more to your bank in one week
- Create an organization account
- Process more than 200 transactions in a calendar year as a sole proprietor with a business profile
For more information regarding money transfer business regulations, please click here.