How To Check If a Financial Institution Accepts ACH Debits

When you need a flexible solution for cross-institutional information on the banking activity of a consumer, working with a company you can rely on is necessary and valuable. One of the pieces of information you need is whether a particular institution processes ACH debits and e-checks.
It is important to make sure you know whether those transactions can be successfully handled through a specific financial institution before you attempt them. Using MicroBilt's Risk Verify Database (RVD) can make things easier and get your transactions processed faster, so you can keep your company running smoothly and customers happy.


A Preferred Partner You Can Rely On


MicroBilt is one of the Nacha Preferred Partners for bank account verification, giving you the information you need without risk. As a Credit Reporting Agency that has pioneered consumer data services for almost four decades, the company's RVD offers a solution to the concern that a particular bank might not accept ACH debits. Ideally, information about the bank account should all be discovered and considered before proceeding.


Convenient for Your Processing Needs


Having everything in one place matters. For convenience, RVD is available as a REST API. The API can confirm that a bank account is in good standing. It can also verify that the account is open and active. The account and routing number of the bank are used to verify the transaction history and status of that account. The status is verified by looking at the schema, account type, and related attributes. The transaction history is also used to assess how much risk is associated with that particular account. Protection against fraud, credit decision making, and a reduction in returns can all be seen by using RVD.


An Account Prescreen Can Reduce Delays


Prescreening an account is vital to making transactions as safe and secure as possible. This type of prescreen will also help your company know if the transaction you are about to make is likely to be approved. With a quality account prescreen option, you can handle your company's risk assessment needs more efficiently. The history and status of a consumer's bank account can help understand how well they may manage any future credit extended to them. Looking for customers with delinquent accounts can also be made easier through bank verification.


Improve Security With an ACH Risk API


The ACH risk API from RVD offers four different options: Lite, Basic, Advantage, and Plus. That makes it easy for your company to choose the one that works for its needs. Banking information can all be acquired beginning with the Lite version, including whether the financial institution accepts ACH debits. From that point each level provides additional value and information. No matter how much detail is needed or what level of risk is undertaken, there is an ACH risk API that can be used.
Knowing whether a financial institution will accept ACH debits before processing or accepting a transaction is an important part of minimizing financial risk for your business. MicroBilt's RVD can help to ensure that you get the information your company needs to continue on a path toward a strong financial future.