Bank Account Validation

Ensure valid direct debits, bank transfers, payouts, and refund payments with the GlobalCollect Bank Account Validation Service!

The Bank Account Validation Service integrates European's leading bank account validation system, Eiger’s Bank Wizard. This service has been specifically designed to validate bank account details of payment transactions and can be used to check the bank account details before being sent to inter-bank clearing systems for the following transactions:

• Direct Debits
• Payouts
• Bank Transfer Refunds

Not only will this service maximize your valid payments, it will also reduce administration costs and improved your customers' satisfaction. The Bank Account Validation Service allows you to verify the accuracy of all bank related information that is necessary to process payments, by checking the data against a comprehensive database of banks.

If incorrect details have been provided by your consumer for internet payments, through call centers, or by errors made in processing, the bank check will provide an automatic rejection. In addition, the system also automatically converts non-standard account numbers into the format required by banking institutions. This added feature will reduce administrative costs of rejected payment handling!

Availability

In the UK, the Bank Account Validation Service provides a validity check of bank sort codes, account numbers, and building society roll numbers. This service is a compulsory requirement of BACS (Bankers Automated Clearing System) in order to process Automated Direct Debit Instruction Service payments (AUDDIS).

In France, the service checks an account number in addition to bank and branch codes.

In Germany, the service allows users to check bank branch codes (bankleitzahl) and account numbers.

In The Netherlands there is a format check and in addition, for non-Postbank accounts there is an '11-check'.

In Spain, the service provides a module check based on the two checkdigits.

In Austria, the service provides a format check in combination with bankcode/account number checks.

In all of the applicable countries, the Bank Account Validation Service includes modulus checking based on the mathematical formulas used by the different banks to define the bank account numbers in each country.