On his podcast, Clark Howard answers real reader questions on money, credit, debt, retirement, travel, and more, along with co-host Christa DiBiase.

Clark's answer: Providing your Social Security number — or an EIN for a corporate account — is a standard regulatory requirement only when you are initially opening an account. For everyday verification, this is terrible practice, and I hate it when regulated industries like banking hide behind the excuse that it's some "new regulation."

It puts customers directly in harm's way. If you fall for a pretext call from an imposter pretending to be your bank, give them your Social Security number, and have money stolen from your account, the bank will turn around and say, "Well, you willingly handed over your credentials, so you aren't covered by our fraud protection," and your money is gone. Banks cannot be sending mixed messages like this.

Do not give them your full Social Security number. Honestly, I don't even like it when they ask for the last four digits.