DocFox’s Bank Account Verification Solution Includes:

Real-time verification

Real-time, instant verification of a bank account against an identity number or registration number for all real-time participant banks.

Account matching

Confirm if there is a match on the account number, the identity number or company registration number, the surname or company name, and the account type.

Account validity

Determine if the bank account is valid, the bank account is active and has been open for longer than 3 months, and the bank account accepts credits and debits.

Bank account verification isn’t enforced by FICA, but it is prudent to ensure that the bank account you are paying money to, or collecting from, is correct and valid. Mitigate financial and reputation risks associated with fraud with DocFox’s instant account verification service.

We created a handy guide that summarises the FIC Amendment Act and it’s impact on Accountable Institutions.
Click here to receive your FICA Handbook.

What our customers are saying

Our experience around DocFox so far has exceeded expectations. The product is very easy to use, intuitive and comprehensive. The administrative burden has been reduced significantly on our business which has allowed us to focus on our core competencies more. This is hugely important for a small business and cannot be understated. It has made adherence to the stricter compliance and FICA regimes we find financial services businesses have to operate in today far more achievable without having to distract ourselves unnecessarily.

James Twidale, Portfolio Manager at Stonewood Asset Management

The technology solution offered by DocFox around the KYC Application for Personal Trust will in the long run save the business and clients time, in addition it also helps to ensure the data and document quality is maintained.

Balazs Kiss, Head of IT at Personal Trust