Surepass Bank Account Verification API provides the comprehensive bank account details of a user and helps in accurate verification. It provides real-time results and helps in quick validation. With the thorough bank verification, you can reduce the chances of transaction errors and payment fraud. An ideal solution for payouts and the KYC process.

How Does it work?

• Input: Enter the Bank Account Number and IFSC Code in the API.
• Output: Get the following details: Full Name of account holder, Account Number, Amount Deposited, Account Exist.

Use Cases

• Payout Verification: A payout platform can use the API to do bank verification before transferring funds to vendors, employees, and businesses. It ensures that the given account details are correct and prevents failed or misdirected payments.

• KYC and Customer Onboarding: Banks, NBFCS, and Fintech platforms can integrate the API into the onboarding system. It instantly validates the bank details and ensures that the account is active.

• Laon Disbursement: A Lending Institution can use an API to verify a borrower’s bank account to confirm that the loan amount is credited to the right person.

• Fraud Prevention: With the integration of the API, you can easily confirm the bank account holder’s details. Businesses can reduce identity fraud and unauthorised financial activity.

• Gig Economy and Freelance Platforms: Marketplaces like freelance job boards or ride-hailing apps can do bank verification of their service providers. It ensures seamless and secure payouts.

• E-Commerce Refunds: E-Commerce platforms can use the bank verification API to check the bank details before initiating refunds.