Do You Need an SSN for Stripe and Banks?
Many international founders assume that an SSN is the key to accessing financial tools like Stripe and U.S. banks. While having one can make verification faster, you do not often need an SSN to use these platforms. This article walks you through the details so you know exactly when an SSN is required and when other documents are enough.
Why Platforms Ask for Personal Information in the First Place
Any financial or payment service in the U.S. is required to verify who you are. This is part of Know Your Customer and anti-fraud rules. Each provider follows the same laws, but the way they enforce them varies. This is why you will see different requirements depending on the service you want to use.
Do You Need an SSN to Get an EIN?
No. You can obtain an EIN even if you are not a U.S. resident and do not have an SSN. Many founders do this when forming a company from abroad. The IRS allows you to get an EIN by fax or phone as long as you provide the correct information about the company and its responsible party.
While an SSN is preferred and makes the process faster, the IRS can accept a foreign passport or another government issued ID. The same applies to ITIN. You can read more about it and the difference between ITIN and SSN in this article.
When Stripe Requires an SSN
Stripe asks for an SSN to verify the identity of the company’s beneficial owner and sometimes the person who will be receiving payouts. If you are a U.S. resident with an SSN, this step is straightforward.
If you are not a U.S. resident and you do not have an SSN, Stripe can still verify you, but it usually requires you to upload alternative documents. This might include your foreign-issued passport and an additional proof of address. Stripe may also ask for more information about your business to complete compliance checks. So, SSN makes the process faster, but being a non-resident without one does not automatically block you from using Stripe.
What About Neobanks?
Neobanks like Mercury, Relay, or Brex also have identity verification requirements, but they tend to be more flexible for international founders. Most of these platforms allow you to open a business bank account with:
- Your passport or ID card
- Proof of address
- Your business formation documents
- Your company’s EIN
You do not always need an SSN. However, some neobanks run stricter checks depending on your industry, country of residence, or overall risk profile. The more your business model involves financial transactions, user funds, or regulated activities, the more documentation they may request. Our guide on top neobanks covers this in more detail.
And What About Traditional Banks?
For foreign founders, the process is more challenging. Traditional banks usually require an SSN. This does not mean they are closed to international teams, but the process is stricter compared to neobanks.
Banks like Wells Fargo and Bank of America are considered the most friendly toward companies with foreign founders. They accept applications from businesses formed by non-U.S. residents, but they require the responsible party who visits the branch in person to have an SSN. Other members of the company such as directors, CEO, or UBOs do not need an SSN. The key point is that at least one responsible individual must have it.
In addition to the SSN requirement, traditional banks request the same documents neobanks ask for, including company formation papers, ownership information, and proof of address.
Putting It All Together
Here is a quick wrap-up founders wish popped up first thing in Google search:
- Stripe: Prefers an SSN but accepts alternatives for non-U.S. residents. EIN alone is not enough.
- Neobanks: Usually more flexible. Most allow onboarding without an SSN as long as you provide your passport, company documents, and EIN.
- Traditional banks: Stricter requirements. At least one responsible person must have an SSN and visit a branch in person. Other founders do not need an SSN.
- EIN: You can get one without an SSN but it’ll take a bit more time.
