Instant Indian Bank Account Verification API

It enables businesses to create frictionless customer journeys during onboarding by verifying the bank account holder name associated with a Bank account number in real time. 

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How does Bank Account Verification work?

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

How does Bank Account Verification help financial institutions?

The purpose of bank account verification is to enable businesses to validate the accuracy of bank accounts. Companies must use this customer due diligence (CDD) process to avoid identity fraud and financial crime. It not only minimizes risk but also decreases errors in documentation and data management. Several methods are available to undertake the process, such as bank account verification APIs, penny drop verification, third-party verifications, KYC, test deposit verification method, and others due to the emergence of advanced technologies.

Benefits of Bank Account Validation

Cut Cost

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

Reduce Drop Offs

Streamlining the account validation process can reduce drop-offs and increase user conversion.

Faster Customer Onboarding

Accurately determine your user's financial identity in seconds & instantly verify bank details.

Improve User 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.

Individual & Merchant Onboarding

It is a mandatory step of customer journeys in many different onboarding processes, 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, or adding a bank account.

Reduce Risk & Fraud 

Verifying customers' account information is essential to prevent fraudulent activity and protect against financial losses. Institutions can use this process to help ensure that money transfers are made to real, verified bank accounts.

Prevalidate Payments

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

Features of  Bank Account Validation

Verify Accounts & Ownership

To ensure all accounts are legitimate and set up for payment, our validation service covers 100% of deposit accounts, enabling you to protect yourself 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. 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 identifying them early with bank verification can save time and resources 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 Docs are well-documented and easy to comprehend. In case difficulties arise, we offer 24/7 assistance to make the integration process as smooth as possible.

Have you got questions?
Take a look at our FAQs below and get answers.

It’s 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 financial risks associated with incorrect or outdated banking information.

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

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

Online Bank Account Verification is done using an instant Bank Account Verification API. Deepvue.tech 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. It takes a few hours to go live.

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

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.

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.

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.

It is easy to use and integrate. We have comprehensive documentation plus assistance from a dedicated engineer during integration.

It is easy to use and integrate. We have comprehensive documentation plus assistance from a dedicated engineer during integration.

To prove a bank account name, their Bank Account Number and the IFSC code of the bank should be provided, and in some cases, the account and routing information.

Instant bank verification provides you with the name of the account holder registered in the bank. During KYC, the user’s name can be matched against the registered name at the bank to establish strong proof of identity and ban fraudsters. 

Instant bank verification provides you with the name of the account holder registered in the bank. During KYC, the user’s name can be matched against the registered name at the bank to establish strong proof of identity and ban fraudsters. 

It can be integrated with any language & library that supports web services, such as Java, Python, PHP, Node.js, etc. It’s a one-time process and end-to-end secure, and you will get response information in JSON format.