Bank account verification (AVS-R) is a service where a Bank account number, ID number, Surname and Name  is supplied to the bank and compared to details in the bank's records. The details are verified by way of a positive or negative response. The correct details are not disclosed to the user.

 

This is an excellent tool to verify that payments are made into the correct bank account to combat online fraud and errors.

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The following information is compared:

• Account number

• ID Number / Company registration no / Trust registration no

• Surname / Company name / Trust name

• Cell phone number registered on the bank account

• The E-mail address registered on the bank account

• Account is open

• The account is open for more than 3 months

• Account accepts debits (Debit orders can be run against this account)

• Account accepts credits (Payments can be made into this account from another bank)

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When the Account number and the ID number match it indicates a successful verification