With increasing business volume in eCommerce, retail and the mail-order industry, the risks in payment processing also increase. In particular the direct-debit system customary in Germany leads to failure to pay as well as time and labour-intensive return-debit notes due to inadvertent wrong entries, transmission errors or attempted fraud.
There are many applications available which check the bank code and account number for plausibility. However, how can one ultimately make sure that the account actually exists and that the person queried is the account holder?
With Bank Account Verification, we are offering the opportunity to minimise these risks. Bank Account Verification compares key personal data in combination with the bank code and the account number with the records in our database. To this end you transmit to us your customer’s surname, first name, address and date of birth as well as the bank account he or she has specified. We then check our database for matching combinations. This is of course also preceded by a plausibility check using the recognised check digit method of the Deutsche Bundesbank.