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BNG Bank
Smooth implementation of IBAN-Name Check and Switch Check at BNG Bank. Within 4 weeks (2 sprints) the connection between our systems and the SurePay API was realized. Read client case -
STRATO
The number of fraudulent orders at STRATO decreased by more than 80% compared to the same period a year earlier Read clientcase -
NeoSmart
By integrating the SurePay IBAN-Name Check, we have been able to drastically reduce the number of frauds and bad debts. That is beneficial for our existing customers! Read client case
IBAN-Name-Check (NL)
What is required for implementation?
On the bank’s side, there are two important things to consider.
First of all, the API that allows for Account Name Verification has to be integrated into your online banking environment.
Secondly, data provisioning has to be taken care of. This concerns the provisioning of customer data by your bank to SurePay so that SurePay’s algorithm can match the payment data to your bank’s customer data. Further information on required implementation efforts can be found in the sample Implementation Plan
What is the IBAN-Name Check or Confirmation of Payee exactly?
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.
Which notifications can I get?
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:
Warning
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.
Name Suggestion
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.
IBAN-Name Check for Organisations
What are the costs for the IBAN-Name File Check?
The cost depend on frequency of file exchange, volume of your files and how fast you want us to deliver the results.
A one-off check of your files is available as of € 2.500 including account set up and 10.000 records. A subsequent monthly check of your mutation files is available as of € 400 per month. Please contact us for a quotation.
Can I integrate the IBAN-Name File Check into my onboarding process?
Right now, the IBAN-Name File Check is only available with a manual file exchange process. Meaning that you have to upload your data files into the personal and secured work space that SurePay created for your company. We run the check. We place the new file containing the results of the check in your organization’s work space, after which you can download the results file. This is a good solution for one off checks of entire CRM or bookkeeping files.
This process is not suitable for a realtime check of for instance new customers on your website. For this purpose, we are currently developing an API solution that your organization can integrate into your onboarding and customer service processes. Do you have an interest for the IBAN-Name File Check API? Please contact us for further information and the updated status.
How long will it take to process my files?
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.