Prevents fraud and mistakes with online credit transfers

The SurePay Account Check provides instant feedback if the name entered with an online credit transfer matches with the names known at the bank of the beneficiary. By doing so, it helps to prevent money getting lost due to fake invoices or misdirected payments.

IBAN-Naam Check is veilig

Advantages of the Account Check

  • Helps to prevent fraud
  • Helps to prevent misdirected transfers
  • Ready-to-use proven technology

Truly Customer-Oriented Service

SurePay’s algorithm combines cutting-edge data science techniques with profound knowledge of payments to help prevent fraud and mistakes and at the same time offers an excellent customer experience.

Our algorithm is trained to detect and interpret subtle differences between beneficiary details entered by the user and those officially registered at the bank. The service aims to significantly reduce the number of payments made in error, prevent fraudulent transfers and provide users with peace of mind when making a credit transfer online. Most importantly, the algorithm will not interfere with payments that are made in a correct manner, entered details are verified instantly, leaving the user experience unaffected.

The SurePay Account Check is Future Proof

When developing our Account Check, we have considered the payment sector’s greatest and most anticipated changes.

 

  1. Takes into account the privacy of private account holders.
  2. The account number remains the unique identifier for making transfers.
  3. The algorithm operates instantly and verifies entered details in the blink of an eye. Therefore, the service is prepared for Instant Payments.

Safety is Paramount

The SurePay Account Check verifies if the name entered in online banking matches with one of the names registered in the SurePay database. Names and account numbers are personal data that should be protected appropriately. SurePay has taken adequate measures to guarantee data protection.

The service is subject to Rabobank’s strict data security policy and complies with the regulatory guidelines for safe processing of personal data. Moreover, the software that is being used has been extensively exposed to penetration testing based on the OWASP Application Security Verification Standard.

  • The Service

    Complies with the Rabobank Software Security Baseline and AWASP ASVS. Developed following the Security by Design principle, including threat analysis and penetration testing.

  • Access Policy

    Access to the API is protected by two-way TLS and IP-whitelisting. Every connected bank has its own API key.

  • Algorithm

    The algorithm that is being used operates in a protected sandbox in order to prevent any impact from other processes on its performance.

  • Data Security

    Data is being stored encrypted and transport is secured with TLS. Only the algorithm can access the data. The data is stored within the European Union.

About the Implementation in your online environment.

The SurePay Account Check consists of an intelligent and robust algorithm that can be easily integrated into your bank’s online environment through an API. Your bank sends a request containing the name and account number the user of online banking has entered. The algorithm verifies these details against the data registered in the SurePay database and your bank will receive the matching results in the response. In case of a non-match, your banking application can show a warning message to the end user, upon which he can abort the payment, protecting him against mistakes and possible fraud.

In order to ensure high quality of matching, it is necessary that the algorithm has access to the data registered at the bank of the payee. An important part of the implementation is to align on how SurePay can get access to the customer details of your bank and to other reliable data sources.

Frequently asked questions

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.

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.