industry leading verification service
Account Verification Service
Account Verification Service
Confirms if there is a match between the bank account number and identity number of an account holder.
Services included in this solution
ensure your Client’s account details are correct
AVS Real-Time
Hyphen Real-time Account Verification Service allows for real-time verification of a bank account against an Identity Number for all real-time participant banks. The Real-time system allows for the submission of a single transaction for verification. The input from client can be achieved via direct API integration or by making use of the Hyphen Portal.
ensure your Client’s account details are correct
AVS Batch
Hyphen Batch Account Verification Service allows for Batch verification of a bank account against an Identity Number for all batch participant banks.The files can be uploaded via direct Host-to-Host integration or by making use of the Hyphen Portal.
Features
Account Verification Service
- the Account Number
- the Identity Number or Company Registration number
- the Surname or Company Name
- the Account Type
- the Email and Cell-phone number
- the Bank Account is Valid
- the Bank Account is Open and active
- the Bank Account Accepts Credit and Debit
- the Bank Account is Open for longer than 3 months
The Benefits
Account Verification Service
- Mitigate risks associated with fraud, both financial and reputational
- Shorten the time required to assess new business
- Reduce costs by automating a process that is currently largely manual
- Enhance the integrity of stored data
- Reduce the risks of unpaids
- Reduce query administration
- Ensure legislative compliance