Why is Apple Pay asking for my identity?
Why is Apple Pay asking for my identity
[Re-Titled by Moderator]
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It’s required by Federal Banking regulations. Every bank in the US is required to gather information to help prevent money laundering, terrorism, and various forms of fraudulent activity.
>>The first time that you verify your identity, you might be asked for this information:
- Your full name
- Your Social Security number
- Your date of birth
- Your home address2
- Answers to questions regarding your personal history
- An image of your valid driver license or state ID card
To use all the features of Apple Cash3 you must verify your identity.<<
>>When you'll be asked to verify your identity
You'll be asked to verify your identity based on how much you use Apple Cash. You may not add or receive $500 or more in total without verifying your identity. You might also be asked to verify your identity prior to this limit.
To protect your account and the security of your money, you might be asked to verify your identity when using Apple Cash, even if you have previously done so.<<
>>Why you'll be asked for your personal data
Apple Cash services are provided by Green Dot Bank, Member FDIC, a regulated financial institution. Green Dot Bank is required by federal law to verify the identity of its customers.
To verify your identity, Green Dot Bank will request Social Security numbers and other personal information to ensure that customers are eligible to use the service.
Where is your personal information going
Information that you provide will be sent to Green Dot Bank and their identity verification service provider. Your name and address is securely stored by the partner bank and Apple Payments Inc. If asked, Social Security number, date of birth, answers to questions (e.g. confirm street name you have previously lived on), or a copy of your government ID will be provided to Green Dot Bank and their identity service provider, and stored by Green Dot Bank as long as required by law. This additional information cannot be read by Apple.
Apple created Apple Payments Inc., a wholly owned subsidiary, to protect your privacy by storing and processing information separately from the rest of Apple and in a way that the rest of Apple doesn’t know.<<
Identity verification for Apple Card or Apple Cash - Apple Support