Bank account validation to reduce payment failure

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Bank account validation

Create your customers’ accounts and arrange their payments quickly and easily, without causing disruption to them. Whether online, in a call-centre or collecting bank account details face to face, it is easy to mis-hear or mis-key information. The earlier in the payments process that you can check that the data you are collecting is accurate the easier it is to correct mistakes.

Check bank account data in real time as you collect it. When your customer is still present you can quickly and easily correct any errors identified and ensure only valid bank account data enters your systems to improve the success rate of your payments.

Who's it for?

Bank Wizard is a vital tool for any organisation that needs to collect bank account details in order to be able to take or make payments including Direct Debits or credit transfers.

Key features

  • Real-time bank account data checking
  • Integrated into your existing systems or stand alone
  • Bank account validation for the UK and Globally

How it works

Bank Wizard uses information from the banks and applies algorithmic checks known as modulus rules to the bank account data provided by your customers. These rules determine whether a bank account number is valid and are individual to each bank or building society that issues account numbers and they change over time. Experian’s dedicated data management team ensure that Bank Wizard is always up-to-date to accurately provide the information you need.

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Case Study: VW Financial Services

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Learn how Experian helped VW Financial Services identify and reduce Direct Debit rejections, increase efficiency and prevent fraud when submitting large volumes of complex payments.
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We thought you might also be interested in...

Read our Payments Blog

Read our payments blog

Expert opinion, latest thinking, analytical articles, stories and fun...
Browse our constantly updated latest thinking blog and learn everything you need to know about payments
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Get a free trial of our bank account validation tool and validate BBANs across multiple domestic markets as well as IBANs for Euro and international payments and where required, generate a valid IBAN.
View our tool

Case Study: VW Financial Services

Case study: VW Financial Services<

Learn how Experian helped VW Financial Services identify and reduce Direct Debit rejections, increase efficiency and prevent fraud when submitting large volumes of complex payments.
View our tool

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