If you’ve ever set up a payment account on RunSignup and paused when we asked for your Social Security Number (SSN), you’re not alone. It can feel like an unusual request — but there’s a straightforward and important reason behind it.
It’s a Banking Requirement, Not Just Ours
RunSignup operates as a Payment Facilitator, meaning we sit in the middle of the transaction — connecting participants paying registration fees to the event directors who receive those funds. This is similar to how PayPal, Square, or Stripe work when you set up a business or merchant account with them.
Banking and credit card processing rules require us to verify the identity of any individual who sets up a payment account on behalf of a legal entity. This is known as Know Your Customer (KYC) compliance — a standard financial regulation designed to prevent fraud, money laundering, and other financial crimes. It’s not unique to RunSignup; any payment platform operating at this level is required to do the same.
Why We Can’t Skip It
As part of those regulations, financial institutions and payment processors are required to verify:
- The legal entity receiving funds, and
- The identity of the individual setting up and managing the payment account
Unfortunately, this means there is not an option to remove or bypass the SSN requirements during payment account setup.
In some cases, the last 4 digits of the SSN will be enough to verify your identity, but oftentimes, you will be required to provide your full SSN.
Your Data Is Safe With Us
We understand that sharing your SSN feels sensitive — because it is. RunSignup takes data security seriously. We are PCI Level 1 compliant, the highest level of payment security certification in the industry, achieved through rigorous independent audits, onsite reviews, and vulnerability testing. All sensitive data is encrypted and transmitted securely, and we never sell or share participant or director data with third parties.
We’ve processed over $2 billion for more than 26,000 events, and keeping your financial and personal information secure is the most important responsibility we have.
It’s All About Getting You Paid Safely
Asking for your SSN isn’t something we do lightly or arbitrarily — it’s a federally required step in the payment account setup process. It ensures that we can legally and securely process payments on your behalf, and that any earnings you receive are properly reported. Think of it the same way you would opening a bank account or setting up a merchant account: identity verification is simply part of the process.
If you have additional questions about payment account setup, visit our Payment Account FAQ or our Secure Payment Processing page. For a deeper look at the other documentation that may be requested during payment account setup and why, check out our Payment Account Underwriting and Documentation Requirements blog.