Do you need to make international money transfers and want to make sure there are no inconveniences or unforeseen events? Read this post and you will learn how an API can help you do it!
We don’t know if you noticed it, but when you or your company transfer money outside the borders of your fiscal residence, it is not as simple as using the password offered by your client’s bank branch, even though it is also present in your country. ; but you must use a different code, this being the IBAN code.
The International Bank Account Number (IBAN) is an international standard for identifying bank accounts across national borders. It consists of a country code, two check digits, a sequence number, and a sort code. The check digits are use to validate the integrity of the IBAN.
The country code contains the BIC (Bank Identifier Code) of the country where the account is held. The IBAN is used by businesses and individuals to make cross-border payments or transfer funds from one bank account to another bank account in any other country.
It enables financial institutions worldwide to identify their customers’ accounts and prevents money laundering; and fraud, therefore having a tool that allows you to check the integrity of the bank accounts with which your company; or project is related is a must if you want to keep things clear and avoid problems.
Make It Easier, Make It Safer!
If you still don’t know, APIs have become a SaaS revolution; since it has allowed hundreds of companies to have the most advanced software solutions without having to sacrifice large amounts of money in large specialized hardware; or large teams of R&D that are expensive to maintain.
Through the services of an API; you can access an IBAN Validator that allows you to keep your accounts clear and helps your sales and accounting teams to avoid fraud and problems with government entities; It is a basic service that you can only access using an internet connection and offers hundreds of requests per second if you need them.
That is why hundreds of companies opt for the use of these software solutions remotely, to do a multitude of automated tasks that would require large investments of time and money, and therefore save while updating their services and enhancing the tools for your departments.
Now, if after all our explanation you are more convinced than before that you should use an API to secure your international transactions, let us recommend this API in particular; since we believe, and the evidence supports us, that it is a revelation and the predicted best for this 2023!
Avoid Problems, Use This API Today!!
With IBAN Validator API, you can validate any bank account information (IBAN, BIC/SWIFT, and BBAN) programmatically. It will get the IBAN and offer validation to you if the number is correct.
You can also access further information on the bank, giving you more information about where the account is located. It will validate any number from any Euro country and can also generate IBAN.
IBAN Validator API is also useful for easily converting BBAN numbers to IBAN. If you need to give someone outside your nation your bank information, they will need IBAN, so you will automatically generate these numbers for them. More importantly, if any taxes apply to your transactions, you will be notified ahead of time.
Related Post: Avoid Scams By Using This Bank Account Verification API!