Why does Netspend need my SSN? Well, this should not come as a surprise that this is one of the most frequently asked questions in regards to the platform. And in this post, I will be giving you a detailed answer to the question as to why Netspend needs your social security number.
Why Does Netspend Need My SSN
Providing your social security number is a standard for the most renowned and well-known financial institutions. You have nothing to be worried about as this helps to protect your personal information and the security of your account. In general, Netspend needs your social security number to help verify your identity.
The company also needs your social security number to ensure that you are the correct owner and holder of the account. Providing your social security number is the only way Netspend can verify that you are who you say you are.
Can Netspend Be Trusted
The social security administration will always warn you of administering or providing your social security number with care. Giving or providing your social security number to the wrong persons will actually lead to identity theft and more.
Can Netspend be trusted? Well, the answer is no. but this does not mean that the company is not legit. Here is my take on the whole issue. Netspend as you know is a prepaid card company and it has been around for quite a long time now. The platform and company, however, are not regulated by the government but they are however regulated by the states they operate in. this is the sole reason I think they cannot be fully trusted.
Netspend as a company is owned by the green dot corporation. The green dot corporation is a publicly-traded company on the New York stock exchange (NYSE). In the past, the company has been accused of deceptive practices and fraud and this is including overcharging customers for monthly payment fees and also charging large sums to the cards of users without their knowledge or consent.
With that being said, the platform cannot be trusted. But if you want to or wish to make use of the services of the platform, then you have no choice but to provide the details of your social security number.
How to Activate A Prepaid Card Without SSN
It is very much possible to activate your prepaid card without your social security number. But in order to do this, you will have to provide a valid ID and proof of address. Also, this can be done by providing a driver’s license or a state ID card containing the same address as the one on the account as well as bank stamen, utility bills, and any other type of government-issued documentation.