Bank Account Verification

Bank account verification is essential for any business in order to set up safe and secure payments. With, you can verify bank account ownership quickly and easily so you can avoid fraud and manage risk.
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How does Bank Account Verification work?

Bank account verification can be done through a penny-drop mechanism, which is a way to check if a user’s bank account is real. This is done by depositing a small amount of money into the account (usually less than one rupee), which will then return the validated bank details along with the beneficiary’s name.

How does Bank Account Verification help?

The purpose of bank account verification is to enable businesses to validate the accuracy of bank accounts. Companies must go through this customer due diligence (CDD) process to avoid identity fraud and financial crime.

Bank account verification not only minimizes risk but also decreases errors in documentation and data management. There are several methods available to undertake the process, such as bank account verification APIs, penny drop verification, third-party verifications, KYC, and others due to the emergence of advanced technologies.

Benefits of Bank Account Verification
Bank Account Validation

Individual & Merchant Onboarding

Bank Account Verification is a mandatory step of customer journeys in many different contexts, such as signing up for a mutual fund platform, taking a loan, setting up an account on a cryptocurrency app, or creating an account with a gaming app.

Improve Customer Experience

Eliminating failed payments allows you to provide customers with faster, hassle-free checkouts and deliver the required products and services without delays or disruption.

Enhance Business

Just from your customers' sort code and account number, our Bank Validation service will provide insight into their branch and other invaluable insights.

Faster Customer Onboarding

Accurately determine your user's financial identity in seconds.

Drop Offs

By streamlining the account validation process, we've reduced drop-offs and increased user conversion.

Reduce Risk

Verifying customers' account information can help you gauge the possible risks of processing applications and reduce financial losses due to fraudulent activity.

Prevent Fraud

Institutions worried about fake bank account holders can utilize this process to protect their money from being misused.

Pre-Validate Payments

Say goodbye to unnecessary errors and delays in payments. Prevalidate the bank account details of your customers before initiating a payment.

Cut Cost

Cut back on business costs like administrative fees, bank charges, and other operational expenses that result from re-processing unsuccessful payments.

Features of Bank Account Verification or Bank Account Validation

Verify Accounts & Ownership

To ensure all accounts are legitimate and set up for payment, our bank account number validation service covers 100% of deposit accounts, enabling you to protect yourself from fraud and manage risk for every transaction.

Instant Verification

It takes a few microseconds to validate a bank account, including verifying that the account number and holder name are correct.

Accurate and Reliable

Our system uses the information from the bank associated with the bank account number and IFSC code to verify the results. This way, we can ensure that the results are always accurate and legitimate.

Enhanced Fraud Detection

Fraudulent payments can be very costly for businesses, but by identifying them early, you can save time and resources that would be spent on investigations.

Scalable and Secure

A powerful API to connect with your systems and perform verification without exposing any information to a third party.

Quick & Seamless Integration

Our account verification API is well-documented, easy to comprehend, and simple to integrate. In case difficulties arise, we offer 24/7 manual integration assistance, working hard to make the integration process as smooth as possible.

Simple Documentation

The documentation for our APIs is comprehensive! We constantly update it to explain the minutest detail. Whether you use Python, Java, PHP, or C#, we have you covered!

Got questions?
Take a look at our FAQs below and get answers.

What is Bank Account Verification or Bank Account Validation?

Bank Account Verification is a process of verifying the ownership and accuracy of bank account information. It is used to ensure that the person providing the bank account details is indeed the rightful owner and that all information is accurate. This verification process helps protect customers and businesses from fraud and other financial risks associated with incorrect or outdated banking information.

What is Instant Bank Account Verification?

Bank Account verification, also called Instant Bank Account Verification, is essential for helping businesses minimize fraud and risk when processing online payments. The verification process involves verifying that a given bank account number and other associated details are valid. Financial organizations face losses yearly due to fraud, making it very important.

What are the capabilities of the Bank Account Verification API for Enterprises?

Bank Account Verification API for Enterprises works by allowing businesses to verify the bank account details of their customers in real time. The API will perform a series of checks on the customer's bank account information, such as verifying the account number and holder name. We offer a dedicated line and special volume pricing. Contact us to learn more about pricing, implementation, and migration support.

How much time does it take to verify a Bank Account?

The online Bank Account Verification is done by using an instant Bank Account Verification API, is the best online Bank Account Verification API provider in the market, which allows you to do Bank Account Verification in less than a second

Who are your banking partners?

Through our associations with RBI-accredited banks & authorized partners, we offer services for verifying bank accounts.

What is Bank Account Validation API?

This API is used to validate the Bank Account details by depositing a small amount of money into the account (usually less than one rupee), which will then return the validated bank details along with the beneficiary's name on the bank record.

Should we always verify the recipient's account number before a transaction?

Bank Account verification guarantees that your funds are sent to the correct recipient. Our Bank Account Verification API is an accessible and straightforward way to verify bank account owners and details.

What do you need to verify the user's bank account?

Our bank account verification API quickly and easily verifies an account holder by asking for their bank account number and IFSC code. We will then double-check the details and provide you with the name connected to the bank account without delay.

How does Bank Account Verification API integration work?

Our Bank Account verification API is easy to use and integrate with. We have comprehensive documentation plus assistance from a dedicated engineer during integration.

What attributes can we verify using the Bank Account Verification API?

You can check the bank account holder name of the account number and verify the onboarding user.

What do I need in order to verify an online bank account?

To prove a user's bank account name, their Bank Account Number and the IFSC code of the bank should be provided.

How does Bank Account Verification help during KYC?

Bank Account Verification service provides you with the name of the account holder registered in the bank for a valid combination of Account Number and IFSC code. During KYC, the user's name can be matched against the registered name at the bank to establish strong proof of identity.

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You can launch your financial products in days with our easy-to-use APIs, SDKs, or ready-to-use code. With a range of flexible solutions, you can pick the option that best suits your needs.

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