Do instant bank account verification. Just enter the bank account number and know if the bank account exists, the name of the account holder with percentage of the name match.
Verifying the beneficiary bank account details ensures that the right details are available to you to process payments. It may sometimes be mandatory to verify the beneficiary bank accounts to process online payments in sectors such as securities, mutual funds, and so on. Using this feature ensures that the transfers are successfully made to the beneficiary accounts. It minimises failed or transfer reversals from the bank. You can verify beneficiary bank account details using the bank account verification API.
To help you save time in verifying if a particular account belongs to the right person, a new feature has been introduced. It will provide the percentage of name match, result, and reason. These details will help you with faster validation and less effort.