BANK ACCOUNT VERIFICATION FOR ACCOUNTANTS & AUDITORS
Verify Beneficiary Banking Details Before Releasing Client Funds
Independently validate client, supplier and beneficiary banking details directly against participating South African bank records before payments are processed. Reduce fraud risk, strengthen internal controls and maintain a verifiable audit trail.
THE RISK
Client Payments Require More Than Trusting Documents
Accountants and auditors regularly rely on banking details supplied by clients, suppliers and beneficiaries. Without independent verification, businesses risk processing payments to incorrect or fraudulent accounts.
HOW IT WORKS
How Accountants Use AVS
1
Capture banking details
2
Submit verification request
3
Receive validation result
4
Release funds confidently
USE CASES
Common Accounting & Audit Use Cases
Client Fund Disbursements
Verify beneficiary banking details before releasing funds.
Estate Administration
Validate beneficiary accounts before distributions.
Supplier Payments
Confirm supplier banking details before payment.
Payroll Verification
Reduce risk when processing salary payments.
Trust Account Administration
Verify account details before transfers.
Audit Control Procedures
Create evidence of payment verification controls.
WHY VERISEAL
Verification vs Traditional Processes
BUSINESS VALUE
Why Accountants & Auditors Choose AVS
Independent Verification
Validate banking details directly against bank records.
Stronger Internal Controls
Reduce reliance on client-supplied documents.
Better Audit Readiness
Maintain evidence of verification activity.
Reduced Fraud Risk
Prevent payments to incorrect accounts.