Are you looking for the best bank account verifier on the internet? In this post; we are going to tell you how an API can not only offer you this service; but also many tools to make your bank transfers more secure, read this post until the end!
Traditional accounting verification processes are inefficient and can take days, although this is not the case. With the new open banking opportunities, you may check a customer’s bank account information in real-time via an API.
If you don’t know how, opening a bank account using an online application, linking a payment account, or moving funds might be a headache. Furthermore, it will take many days to clarify and verify the data. It is not surprising, as it is with any complicated process; that the ultimate result is high levels of problems and fraud.
Many businesses struggle with today’s verification methods, such as manually filling out forms, performing microdeposits, and requesting physical bank extracts. They can be slow, expensive, and untrustworthy.
Likewise, using today’s photo editing tools, it is quite simple to falsify screen captures and bank account extracts. How can you try to avoid fraud while yet providing a simple and without trouble sales process? The services of an IBAN Validation API can easily solve this problem.
How An API Can Check Bank Accounts?
Using API services, you may instantly verify the ownership of bank accounts by utilizing open banking and obtaining information directly from the user’s bank.
You can obtain the account number, IBAN or route number, the name of the account holder, and (in some countries) even the user’s identity details. This simplifies the verification process and results in faster and easier work, as well as an improvement in the payment and direct debit configuration process.
Instead of showing clients a complicated process for providing their data and then spending days verifying their information; you can do it in an instant and with a few clicks using an IBAN Validation API. Users connect to their accounts; authenticate with their banks, and their information is automatically extracted; completing the process in less than a minute rather than many days.
Furthermore, because the information comes directly from the banks, you will receive precise and comprehensive data. You avoid problems caused by Photoshop-edited documents or ordinary human errors (often typographic errors).
The end result is a smooth and error-free process, rather than a time-consuming and complicated one that causes you to lose customers. As a result, we’d like to share our knowledge of the banking API world with you and recommend the best API for bank data verification on the market in our view!
Check All Your Transactions With This API!
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: Recognize The Country Of The Bank Account Number Through An API!
Also published on Medium.