RecruitiFi processes payments through best-in-class payment providers Chase and Stripe. Chase and Stripe manage billions of secure transactions for clients each year and are both certified as PCI Level 1 Service Providers, the highest international security protocol for financial institutions handling online data.
Due to the large monetary values associated with recruiting fees (often in the tens of thousands of dollars), Chase and Stripe must maintain compliance with the Federal regulations Know Your Customer (KYC), Anti-Money Laundering (AML), and Combating the Financing of Terrorism (CFT). In doing so, they are required to verify the personal identity of a corporate representative via Social Security # (SSN) or an image of a valid government-issued ID.
What if I work for a large company that has provided an EIN? Do we still need to provide an SSN or an image of an ID?
One individual at each company is required to provide verification with an SSN or ID, even if your company has already provided an EIN.
This is not a RecruitiFi policy, but a Federal compliance issue for processing large sums of money over the internet. Individual verification is required without exception.
Who should provide this information?
This varies depending on your specific situation. In short, it just needs to be a representative that can take action on behalf of your company.
In many cases, individual recruiters within the company have been approved to work on our platform, and they will upload their own information to expedite payment. In some instances, it may be a manager or someone from the billing or finance department.
What happens to my data?
RecruitiFi does not store this data in any way, shape, or form. The information is encrypted and passed directly to our payment processors for the purposes of verification.
Tags: Payments, Money, Social Security Number, SSN, SS#, Payment Security, Stripe, Chase