Bank Account Verification
Round off your due diligence with our bank account verification solution. Verifying whether the bank account details provided by your client are correct, valid and belong to the account holder in question.
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.
