Account Check

Banks

  • 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

  • How does the check perform the matching?

    SurePay’s Account Check deploys an intelligent algorithm that compares the user’s entered beneficiary details against the SurePay database, which contains data from several sources such as connected banks and the Dutch Chambers of Commerce.

    The service takes advantage of multiple data fields of the beneficiary’s bank of registry in order to match with users’ input. The outcome can be a match, a near match or a non-match, in which case the user can be prompted with a notification.

    For its operations, it is important that SurePay’s service has access to complete and up-to-date client records of connected banks. Ensuring this will help to prevent fraud and payment misdirection.

  • What happens with my customer data?

    In order to ensure high quality matching, the SurePay algorithm needs access to the verified customer data of the bank that has issued the account. For business accounts, SurePay retrieves additional trade names as registered at the Chambers of Commerce, for the registry number that the banks hold in their files for their business customers. This is important because payments to trade names should not lead to a warning notification.

    SurePay closes agreements with connected banks for the provisioning of customer data, in which purpose limitation is included and clearly described. Meaning that the data you provision as a bank will strictly and solely be used for the agreed purposes.

  • How do end-users experience the service?

    The user has always been at the centre of what we do. In designing and building SurePay’s Account Name Verification service we have considered the fact that end-users would always like an uninterrupted and pleasant payment experience. Hence, the check is performed instantly and highly reliable. Moreover, the user always remains in charge. Meaning that regardless of any notification prompted, the user may always choose to continue the transfer.

    In line with strict policies and regulations, we never disclose any personal information on private bank accounts in our notifications, unless we’re certain that the user has made type when entering the beneficiary details.

    Our Account Name Verification solution has undergone thorough testing by thousands of users. This has allowed us to bring to market an even better version of our service right away.

  • What are the costs of Implementation?

    We deliver a quotation based on your needs, and therefore refrain from stating exact rates. We do, however, provide further information on how our prices are set and what they’re based on.

    For banks, prices are roughly built up of a one-off connection fee and a per-call fee to our API, which is based on the aggregate number of transactions over a period of time. For banks who provision their data as well as consume our API, there are significant price reductions available. Please contact an account manager for further enquiries.

Individual users

  • What is Account Check or Confirmation of Payee exactly?

    When making a transfer online, the SurePay Account Check verifies 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.

  • 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.

  • Do I have to apply to use the service?

    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.

  • To whom is SurePay’s Account Name Verification service available?

    At the current moment, SurePay’s Account Name Verification service is exclusively available to Rabobank customers located in the Netherlands. Other financial institutions in the Netherlands have not yet implemented our services, but will do so soon.

  • When and why do I get to see a notification?

    Notifications only appear in the payment initiation screen, prior to sending through your payment, and appears right after you have completed the fields beneficiary name and account number (IBAN). On the background the check is carried out instantly without any noticeable delay.

    Notifications only appear should your entered beneficiary details differ from their registration at the relevant bank. When the beneficiary details you’ve entered correspond to the details of the back account holder at the bank of registry, no notification is given. If the entered beneficiary details contain a typo or rather small deviation from the actual registration, you will be prompted a clickable name suggestion.

  • What should I do with a notification?

    In case you are not able to further verify the beneficiary details in your online banking environment, please contact the beneficiary to cross check the account details. You are responsible for they payments and transfers you make – even when a notification is prompted.

Organisations

  • How is my company being checked?

    When your customers are planning to pay you via a credit transfer, they will manually enter your business name and account number (IBAN), after which these details are instantly verified. SurePay verifies whether the entered business name corresponds to the data at the bank of registry – your bank. When the entered details correspond to these at the bank of registry, no notifications are presented and your customers will be able to send through the transfer right away. When the entered name does not correspond to the official registration, we display the business name as registered at the bank. The customer then decides whether to proceed or cancel the transfer.

    Do you have a business account with Rabobank, ING, SNS, ASN or Regiobank? Then we also verify entered details against the trade names you registered at the Dutch Chamber of Commerce. Unfortunately, this cannot be accomplished for business accounts with other banks, until they have implemented SurePay’s Account Check.

    When your customers are prompted with a notification, it could result in uncertainty and delayed payment processing. In order to avoid hassle and inconvenience, please ensure that the name you articulate on your invoices corresponds to the official registration or account ascription at your bank.

  • My company name is not properly checked.

    Occasionally, it can happen that your company details are not properly checked due to a variety of reasons. For instance, when you are a non-Rabobank customers and you have just opened a new account which has not received payments yet. Or, when the ascription of your bank account at the bank of registry deviates from any name you articulate via your invoices.

    In such cases, your customers will be prompted a notification that contains the name by which this account is supposedly known at the bank of registry. This, in turn, can cause extra calls to your customer service center or delayed payment processing. You can easily prevent such situations by ensuring the names you communicate to your customers do match the registration of your bank account.

    Hitherto, we can only verify trade names registered at the Dutch Chamber of Commerce if you have a business or corporate account with Rabobank. For non-Rabobank accounts, we will be able to do so as soon as your bank has implemented SurePay’s Account Name Verification service.

  • I own a non-Rabobank business account. Is this account also checked?

    Yes. Your business details are verified for every payment based on the registration at the relevant bank only. However, until your bank has commenced SurePay’s Account Name Verification implementation, we will not be able to check against any names registered with the Dutch Chamber of Commerce. This is currently only available to Rabobank customers. Please check with your own bank when and whether it is planning to implement SurePay’s services.

  • Do notifications actually block a transfer?

    No. Notifications never prevent payers from sending a transfer through. The customer is always able to proceed with the transfer, even though account name and account number do not match with their registration at the relevant bank.

  • Are payment batches also checked?

    If you submit payment batch files to your bank, it is good to know that these payments are not checked by the SurePay Account Check. Hence, the payment process will not be disturbed, nor will any payment be rejected due to the check.

    It is up to the banks to deploy the check for batches as well.

    Should you as a company wish to have all your payments checked? Or should you wish to check the financial details of your business relations? Please read more about the Batch Check that we have developed for this purpose.

  • Which banks have implemented the Account Check?

    SurePay’s Account Check is available to customers at the following banks: Rabobank, ING, ABN AMRO, SNS, ASN and Regiobank. All customers banking with the aforementioned banks will get notifications based on the outcome of the check. Customers of other banks do not have the SurePay confirmation of payee solution. Please consult your bank for more details.

Batch Check

  • Which account numbers can be checked?

    All Dutch bank accounts. 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.

  • How does SurePay protect my data?

    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.

  • 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.

  • Can I integrate the Batch Check into my onboarding process?

    Right now, the Batch 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 Batch Check API? Please contact us for further information and the updated status.

  • What are the costs for the Batch 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 database is available as of € 2.500 including account set up and 10.000 records. A monthly check of your mutation files is available as of € 250 per month. Please contact us for a quotation.