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Credit & Decisioning APIs: Bank Account Verification

Plans & Pricing


Protect yourself from check/ACH returns and fraud by pre-screening a customer’s bank account. These APIs confirm that a bank account is active, open and in good standing. This is done by verifying the status and transaction history of a bank routing and account number including account type, schema, and other attributes. Transaction history is also available to validate the risk associated with an account. Full bank transaction details can be verified or reviewed in detail. Bank account verification also delivers valuable account and transaction details to support credit decisioning, reduced returns and protection against fraud.

 

 

ABA & Account Schema Verification (rVd Lite)
This service confirms that a provided bank routing number is valid, and checks to ensure the account number structure follows a known account schema for the financial institution. Financial institution name and contact information are also returned, along with other information such as whether the bank accepts ACH transactions and any new routing number issued if the original has changed.
Due to Federal regulation, the following APIs require an additional level of credentialing. For pricing plan information or to begin the credentialing process contact a MicroBilt representative.
ACH & Check Prescreen (rVd Basic & Advantage)
Prescreen ACH/check payments to reduce the risk of fraud and returns. This service verifies the bank routing number is valid and active in the US and utilizes sophisticated algorithms and proprietary processes to ensure the structure of the account presented conforms with the known structure(s) issued by the financial institution. In addition, it alerts you if the account has been reported as closed or invalid and if there are current outstanding unpaid debits in our database. RVD Advantage allows velocity and individual risk settings for every customer and returns additional consumer and bank account information about critical transaction attributes such as the name(s) and telephone numbers associated with the account when known.  RVD Advantage will return a decision code of accept, decline or warning.  RVD Plus supports the Nacha WEB Debit rule.
User credentialing required for acccess.
Extended ACH & Check Prescreen (rVd Plus)
Prescreen ACH/check payments to reduce the risk of fraud and returns. This service accesses the RVD databases as well as additional financial and retail historical databases to augment known history on the account.   RVD Plus verifies the bank routing number is valid and active in the US and utilizes sophisticated algorithms and proprietary processes to ensure the structure of the account presented conforms with the known structure(s) issued by the financial institution. In addition, it alerts you if the account has been reported as closed or invalid and if there are current outstanding unpaid debits in our database. RVD Plus allows velocity and individual risk settings for every customer and returns additional consumer and bank account information about critical transaction attributes such as the name(s) and telephone numbers associated with the account.  RVD Plus will return a decision code number (1 – 30) and risk level to further break out information known on the account when known.   RVD Plus Code Model  supports the Nacha WEB Debit rule.
User credentialing required for acccess.
IBV Consumer (US & CAN)
This API delivers consumer banking data from more than 20,000 financial institutions. It is used to verify a consumer's bank account and their ability to repay a loan or other financial obligation. Information returned includes current and available balances, direct deposits and credits, debit transactions, account balances, insufficient fund fees, Routing/Account Number and account holder when available, estimated income and more. Additional information is also provided to verify the consumer. This includes Social Security Number verification indicators, current and previous addresses, IP address validation and other identity attributes.
User credentialing required for access.