Bank validation and payment processing services for your business

Make the connection between your customer & their bank account details.

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Take the worry out of making and receiving payments

Your customers want to make and receive bank payments without complications. They don’t need the hassle of sorting out errors, or the worry of falling victim to fraudsters. But get their bank account details wrong, and that’s exactly what could happen. Our bank validation and payment processing services help you avoid these problems. We help you get your customers’ bank account details right every time, and make sure that payments are made to and from the right customers. That way, you’ll save time, money and worry. And you’ll also reduce the risks of losses from fraud, a problem highlighted by the UK Audit Office.

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How our bank validation and payment processing services benefit your business

Our solutions help you validate and verify customer bank account details to make sure that an account not only exists but also belongs to the right customer. This way, your customers can successfully receive and make payments every time.

  • Reduce errors: Give your customers the best possible experience
  • Enjoy peace of mind: Be sure payments are made to and from the right customers
  • Improve processes: Make payment processing more accurate and efficient

Confirm

Validate bank account details and sort codes

Minimise

Reduce the risk of losses from bank transfer fraud

Check

Verify bank account ownership

Benefit

Enjoy a reputation for getting payment processing right

Comply

Fulfil BACS Paperless Direct Debit requirements

Blend

Combine our solutions seamlessly into your business systems

Would you like to know more?

Key features of our bank validation and payment processing solutions

Successfully make and receive payments every time. Make sure you have the correct bank details for the account your customer owns, so you can make and receive payments smoothly, without complications. Adapt your processes as economic circumstances change.

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Make sure bank details are correct

Validate and verify bank account details and bank account ownership so customers can make and receive payments without complications. Comply with the BACS Direct Debit scheme rules- requiring the identity and address of the payer be confirmed, and the account details provided relate to the payer.

  • Validate bank account numbers and sort codes relate to real accounts
  • Verify ownership of consumer and business bank accounts
  • Spot closed accounts and those marked ‘account holder deceased’
  • Avoid payment fraud and manage paperless direct debits 
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Protect your customers from fraud and error

Check bank account ownership to make sure you’re paying the right person every time. Safeguard your customers from bank transfer fraud and errors. Protect your business against financial loss and reputational damage. 

  • Compare customer details against our database of current account information
  • Receive confidence scores about the match in real time
  • Use online or through our ID and Fraud platform
  • Comply with BACS Direct Debit scheme rules 
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Adapt your strategies

Adapt your business strategies to keep pace with volatile economic circumstances and customers’ changing financial circumstances. Take a fresh and detailed look at your customers’ credit history to better manage pricing, credit strategies and more. 

  • Use live data to gain a full picture of your customer’s credit and product history
  • Reassess strategies and scorecards
  • Predict potential losses with up-to-date and accurate data 

Learn more about our bank validation and payment processing solutions and how they can benefit your business

FAQs

It is possible to verify the owner of a bank account through a reputable data agency. This involves confirming ownership of an account by comparing the actual account holder’s name and address with the person claiming to own the account or making and receiving payments to or from it. This is done by inputting customer details into a verification system. They are then compared to the data held by the agency, which includes current account information provided by banks. In some systems, confidence scores are then generated to show how closely the details you have inputted into the system match the bank details the agency holds. This confidence score is then returned and forms the basis of the decision about whether to proceed with the payment or setting up of a direct debit or amend the details to correct errors. It is crucial for bank account details to be verified in this way. It can identify closed accounts or those marked as ‘account holder deceased’. Most importantly, it helps to ensure that people who are owed money receive their payments as quickly as possible and that the payment is going to the right person. 

These checks can also reduce the risk of falling victim to fake invoice fraud. For example, this can happen when invoices are submitted from someone claiming to be a supplier when in fact, they’re from a fraudster and the invoice contains the fraudster’s own bank account details. The verification and validation checks help make sure the real suppliers who are due money receive the funds.

Related products

Bank Wizard Absolute

Get customer bank details right

Banks Scheme Access

Deliver large volumes of payments, fast

BACS Direct Debit

Comply with Paperless Direct Debit Rules

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