Did you know that you can validate international bank accounts in seconds; and from the comfort of your PC? It is so simple and fast that it seems incredible; but it is not, you only need to use an API. In this post; we tell you everything about it!
When sending money electronically, the IBAN is use internationally to uniquely identify a client’s account with a participating financial institution. The IBAN allows for the validation of checks; through the use of international country codes of two characters in accordance with ISO standards.
Additional validations are carry out through the use of a verification/algorithm process. The account administrator’s bank is responsible for calculating the IBAN and providing it to its customers. Likewise, as a user or business; you must be able to access the data of your customers or suppliers when doing automated transfers.
You should be aware that even if someone has your IBAN number; they will not be able to access your account and steal all of your money. Because no operation can be carry out with this information. The only thing you can do is deposit money.
Remember that in order to access your account and conduct transactions, such as making a transfer; you must use a username, a password, and another authentication factor; such as an SMS code, to validate the transactions. As a result, utilizing a banking data verification service via an API is completely secure.
Which Are The Benefits Of Using An IBAN Validator API?
The use of an IBAN validation API reduces errors and delays in the completion of international payments. An IBAN account is always verified in conjunction with a BIC code, and so has two verification steps that ensure its national and international validity.
It is vital to remember that for SEPA payments, just the IBAN is required, whereas information about the BIC code is required for international transactions. As a result, obtaining one of the two codes is necessary in order to learn the account owner’s information and the band of emission.
An API also allows you to access this information automatically, in real-time; and without having to wait for bureaucratic responses from the banks, since it uses the open banking databases officially, it is a faster and easier way to apply a data checker, without having to encode it yourself.
Now that you know the account verification APIs, their uses and importance, and most importantly how easy they are to use, we want to give you a recommendation; that you start using this API and try everything you need until you become an expert!
Learn All About A Bank Account Using An API!
With IBAN Validator API, you can validate any bank account information (IBAN, BIC/SWIFT, and BBAN) programmatically; and may also obtain further information about the bank, which will provide you with more information on the location of the account. It can validate any number from any Euro nation and establish an IBAN.
IBAN Validator API may also be used to simply convert BBAN numbers to IBAN numbers. If you need to offer someone outside your country your bank information, they will want IBAN, therefore you will produce these numbers for them automatically. More significantly, you will be told in advance if any taxes apply to your purchases. It is a highway to simplify your international payments!
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