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Why Do You Need My SSN to Approve My Nonprofit Account?

Autobooks asks for the SSN of a representative of a nonprofit as part of identity verification and compliance requirements, even though the organization itself has an EIN.

Here’s why:

1) Identity Verification (KYC Requirements)

Payment processors are regulated financial institutions. They must follow Know Your Customer (KYC) laws under federal anti-money laundering (AML) regulations.

That means they must:

  • Verify that a real person is responsible for the account

  • Confirm that the person opening or managing the account is who they claim to be

  • Prevent fraud, identity theft, and shell organizations

Even though the nonprofit has an EIN, an EIN only identifies the organization not the individual controlling the account.

The SSN helps Autobooks:

  • Verify the representative’s identity

  • Run fraud and sanctions checks

  • Confirm the person isn’t on restricted lists

2) Beneficial Ownership & Control Requirements

Under U.S. financial regulations, processors must identify individuals with significant control over the non-profit organization. 

For nonprofits, there isn’t ownership in the traditional sense, but there is control such as:

  • Executive directors

  • Presidents

  • Treasurers

  • Authorized signers

Autobooks needs to verify at least one responsible individual.

3) Risk & Chargeback Liability

Payment processors are financially exposed to fraud, chargebacks, money laundering and misuse of funds as part of managing digital payments. Having a verified individual attached to the account:

  • Creates accountability

  • Reduces risk of anonymous misuse

  • Provides a verified contact if issues arise

4) Data Security

Autobooks takes data security seriously. We will only use a SSN for identity verification. We never share it publicly, and we store all information under strict financial compliance standards. 

Conclusion: 

  • The EIN identifies the nonprofit.

  • The SSN identifies the person responsible for it.

Financial regulations require both the organization and a real human behind it to be verified before processing payments.