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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 account type (checking, savings. etc.), 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 will process a submitted Routing and Account Number against MicroBilt's database containing positive and negative ACH/check writing history. It will validate the account is open and in good standing while also returning information about critical account and transaction attributes such as account holder name, driver's license number format and more.
User credentialing required for acccess.
Extended ACH & Check Prescreen (rVd Plus)
This service is used to reduce ACH/check fraud and returns by processing a submitted Routing and Account Number against an extended network of ACH/check databases containing positive and negative ACH/check writing history. It is used to validate that an account is open and in good standing, while also returning information about critical account and transaction attributes such as account holder name, driver's license number format and more.
User credentialing required for acccess.
IBV Consumer (US)
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.