At Envelope, we ask for your Social Security Number during sign up because it is required to help open a U.S. checking account and issue a debit card.

As a financial technology company, Envelope is required to verify the identity of customers who apply for an account. This process is commonly known as Know Your Customer, or KYC. KYC helps financial institutions confirm that customers are who they say they are and helps prevent fraud, money laundering, terrorism financing, and other financial crimes.

We understand that your Social Security Number is sensitive information. Envelope uses security measures such as encryption, identity verification controls, and system monitoring to help protect your personal information.

We take your privacy and security seriously and only collect this information because it is required to provide access to an Envelope account.