Do you want to reduce payment errors with an API? In this article, we will tell you more about it!

The International Bank Account Number (IBAN) is a standard format for identifying bank accounts across countries. It is used to facilitate cross-border transactions. The format consists of up to 34 alphanumeric characters, including spaces and special characters. Each country has its own specific IBAN structure. The country code is used to identify the country where the bank account is located. The IBAN is composed of a BIC (Bank Identifier Code) and a national account number. The BIC is a unique identifier for all banks in the world. It is assigned to each bank by the IBAN registrar at its inception. The BIC can be used to identify a bank when it is not possible to use the bank’s name or when it is necessary to avoid ambiguity.

This information is essential for international transactions because it allows you to identify the bank account that you are sending or receiving money from. This information also helps you avoid errors in your payments because if you have all of this information, you can be sure that your payment will reach its destination without any problem. So, if you want to reduce payment errors with an API, we highly suggest using an International Transactions API. 

The routing number, also known as the bank account routing number, is an alphanumeric string of nine digits used by the banking industry to identify a particular bank account within a larger financial institution. This number can be found on a check near the bottom-left corner of the image, above the MICR line.

Our recommendation for the best API to reduce payment errors is the SWIFT – IBAN – Routing Bank Checker API.

SWIFT – IBAN – Routing Bank Checker API

Developers now have a quick and easy way to verify and retrieve data on SWIFT codes, IBAN codes, and routing bank numbers thanks to the SWIFT-IBAN-Routing Bank Checker API. Using this API to quickly evaluate and confirm the quality of banking information could speed up financial transactions and lower error rates.

Routing Bank Numbers are another essential component of financial transactions, and the Bank Codes Lookup API can help you quickly confirm their accuracy. Routing Bank Numbers are used in the United States to identify financial institutions and process transactions. By using this API to validate Routing Bank Numbers, you can reduce the risk of errors and ensure that transactions are processed quickly and accurately.

All You Have To Do To Utilize It Is:

• Go to SWIFT – IBAN – Routing Bank Checker API and simply click on the button “START FREE TRIAL” to start using the API.
• After signing up in Zyla API Hub, you’ll be ready to start using the API!
• Employ the different API endpoints depending on what you are looking for.
• Once you meet your needed endpoint, make the API call by pressing the button “test endpoint” and see the results on your screen.

This API provides access to the “Routing Bank Checker,” “IBAN Code Checker,” and “SWIFT Code Checker” endpoints. Choose from among them the one that most nearly matches your requirements for what you’re looking for. How the “IBAN Code Checker” will work is shown in the following example:

{
"status": 200,
"success": true,
"message": "PT50000101231234567890192 is a valid IBAN",
"data": {
"iban": "PT50000101231234567890192",
"country": "Portugal [PT]",
"sepa_country": "Yes",
"checksum": "50",
"bban": "000101231234567890192",
"bank_code": "0001",
"branch_code": "0123",
"account_number": "12345678901",
"check_digit": "92",
"bank_details": {
"swift_code": "BGALPTTGXXX",
"bank_name": "BANCO DE PORTUGAL",
"branch": "SISTEMAS DE PAGAMENTOS",
"address": "AV. ALMIRANTE REIS, 71 EDIFICIO PORTUGAL",
"city": "LISBON",
"zip": "1150-012"
}
}
}

As you can see, the response demonstrates that the IBAN number and bank information are correct and from Portugal.

Overall, this API is an essential tool for anyone involved in financial transactions. By providing access to critical information about SWIFT codes, IBAN codes, and Routing Bank Numbers, this API helps to reduce errors, streamline transactions, and improve the accuracy of financial information. Whether you are a large financial institution or a small business, the IBAN Codes API can help you achieve your financial goals with ease and confidence.