When you make transactions through OfferUp’s electronic payment system, you may be asked to validate certain personal data.
Our payment processor, Stripe, uses the information you provide to verify your identity. This is required by regulators and financial partners in order to promote transparency and prevent fraud and financial crimes. For more information about regulations that apply to collecting information like this, please review the Customer Identification Programs guide from the SEC.
Stripe requests the information that is required to continue providing payments and for tax reporting capabilities.
Depending on the transaction volume, Stripe may be required to ask sellers to provide certain personal information. This information may include name, date of birth, physical and billing address, last 4 digits, or full Social Security number. If the Social Security number cannot be provided or validated, they may request a scan of your government ID (like a driver’s license). Additionally, a debit card or bank account is required to provide a funds disbursement (See Getting paid).
If you make at least $600 in shipping sales through OfferUp, you may see a request from Stripe for your address and Social Security Number. This is required for tax reporting, per the Internal Revenue Service (IRS), and you will not receive payments until you provide the requested information. We cannot provide you with tax advice. If you have questions about what this reporting requirement means to you, please contact a tax advisor.