1 billion checks performed
- For banks in the Netherlands
- Customers get a warning message
- Helps to prevent fraud and misdirected payments
SurePay delivers an Account Check to financial institutions, who can implement the service in their online environment. The service provides at a pre-payment stage the bank’s customers with instant feedback on the correctness of entered beneficiary details when making a transfer online. That way, end-users are prompted with a notification in case entered beneficiary details deviate from those known at the bank of registry. This helps to prevent fraud and mistakes.
The SurePay Account Check deploys an intelligent and robust algorithm, which is available for banks’ online environments through an easy-to-integrate API. The algorithm verifies an entered name belonging to an account number (IBAN) against the SurePay database. The SurePay database contains customer information from connected banks and other relevant data sources such as the Chamber of Commerce. Data provisioning plays an important role in the implementation.
SurePay delivered the Batch Check rapidlyRené Voets Senior Manager Particulieren Interpolis
SurePay has helped us to finish an elaborate analysisMarteyn Roose Directeur Particulieren Centraal Beheer
When making a transfer online, the IBAN-Name Check and the SurePay Confirmation of Payee verify entered account details of the beneficiary prior to the actual transfer. The verification is based on the unique combination of the account holder’s name information beloning to a specific account number. The payer’s bank sends the entered account name and number to SurePay, which in turn verifies the details against the available data in order to provides a response. Should entered details be incorrect (i.e. the beneficiary name does not match with the names known at the bank for this account number), then the payment initiator will get a notification. The payer might be at risk of payment fraud or possibly has made a mistake.
The IBAN-Name Check is tailored for the Dutch market and the SurePay Confirmation of Payee adheres to UK market requirements, rules and regulations.
Should entered account details match the information known at the bank for the relevant account number, generally no notifications are prompted. When this is not the case, you can distinguish three main types of notifications:
When the entered name does not match with the account information known at the relevant bank by any means – for instance ‘D. Williams’ instead of ‘K. James’ – a warning notification is prompted. Please be aware that you might be subject to a scam, fraud or may have made a mistake. The notification will tell you that the account holder is registered under a different name at the relevant bank. Consider alternative measures or get in touch with the beneficiary before proceeding to transfer any funds.
In case of minor errors, such as a typo, you will be prompted with a suggested name as registered at the relevant bank. For instance, ‘Williams’ instead of ‘Wiliams’. Please check whether the suggested name belongs to the person/company you are intending to transfer funds to.
Service Not Available
SurePay verifies account numbers and their information across its base. In case SurePay is not able to verify account details against an account number, you will be notified as well. This can, for instance, occur for foreign bank accounts numbers for which SurePay may have insufficient information available.
No, you don’t. SurePay’s Account Name Verification service is not a separate app, nor programme. Your own bank can opt to integrate SurePay’s Account Name Verification service in its online environment, and make it available to you. The service generally works for online transfers and is commonly made available through a regular banking application.
Currently, SurePay’s services are only available to customers of the larger banks in the Netherlands.
The IBAN-Name Check can handle all Dutch bank accounts (IBAN). SurePay can check all IBAN-Name-combinations in your customer- and supplier databases as long as the IBANs are Dutch and start with NL. Your database can contain checking- and savings accounts. Personal and business accounts. Issued by Rabobank or any other Dutch bank. At present, the coverage of foreign account numbers is insufficient to support checks of foreign IBANs.
SurePay Confirmation of Payee checks all UK bank accounts.
The Batch Check requires you to submit your data files to SurePay in order for us to run the check and provide you with the results.
We have chosen to use mSafe for the exchange and storage of your sensitive data files. A secure and personal work space is created that can only be accessed by one person of SurePay and one person within your organization. Files are encrypted during transport and storage. User acces is secured with two factor authentication. For further security measurements and file specifications, please click here.
This depends on the agreement we have reached and is based on frequency and volume. SurePay guarantees to process your files in five working days. In case of emergency or good preparations however it is possible to process your file in a few hours so that you’ll have the results the same day.
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