Motive requires the business owner's Social Security Number for the Motive Card application to perform due diligence checks to ensure that you are authorized and comply with bank regulations.
Motive will use the the Social Security Number to run what’s called a "Know Your Customer (KYC)" check only. This is a check required by banking regulations in the United States to avoid money laundering and other concerns. Motive will not use the SSN to obtain a consumer credit report on the beneficial owner of the company. However, Motive will use the company’s EIN/Tax ID number and other information to obtain a business credit bureau report.
Should you be issued a Motive Card, Motive will also report the status of your card usage to business credit bureaus that will be associated with the company’s profile. Again, this will not involve the owner’s SSN, just the company’s identifying information.
- What information is needed to complete an application for a Motive Card?
- How to modify or cancel Motive subscription
- Can I apply for Motive Card if my business is a sole proprietorship?
- Can I restrict the hours or days the Motive Cards are used?