Who Needs Your Social a good article

Who Needs Your Social Security Number?

Because Social Security numbers (SSN) are unique to each individual, many businesses have made them the method of choice for establishing identity on customer accounts. That’s why having your SSN makes it so easy for an identity thief to set up bogus accounts in your name – and why you should push back on businesses who demand it from you.

Who really needs your SSN? Your employer and your bank or financial service company may require it to comply with federal law, and if you use Medicare or Medcaid, your doctor’s office will need your SSN to file claims for those charges. Beyond that, few others actually need your SSN. What they do need is some form of identification. A driver’s license, state-issued identification or passport is usually preferred, and some companies will ask for a second piece of ID to confirm your license. This can often take the form of a birth certificate, credit card bill, bank statement, pay stub or company security badge. Just make sure none of those documents contains your SSN.

Be prepared to offer these forms of identification when you decline to give your SSN. You may be told that you cannot conduct business with the company without divulging your SSN. Ask for a supervisor – and keep asking, on up the chain of command until you find someone who understands the importance of guarding your SSN and agrees to accept other forms of identification. If that doesn’t work, consider paying cash rather than establishing credit or billing account – or find another company to do business with.

On average, victims of identity theft spend 60 hours and $1,180 cleaning up the damage, according to the Federal Trade Commission. Take the first step in protecting yourself by giving your SSN only to those who truly – by law – need that information. If you have questions about how we use and protect your SSN or when a requirement to provide your SSN is legitimate, please feel free to contact our office at any time.

Article from:
Peter J. Peterson, CFEd™
Heartland Financial Consultants
8033 Marshall Circle Arvada, CO 80003-1706
Phone (303) 884-1046
PeterJPeterson@comcast.net