SurePay’s Account Switch Check utilises the ‘Switching Service’ data to indicate whether a payee has switched banks with their account(s). The Switching Service (Overstapservice) is provided by most major Dutch banks, to make it easier for consumers and businesses to move their accounts to a different bank. The new IBAN is easily stored in the address book in the payer’s web or mobile banking app. If you have already implemented the IBAN-Name Check API you can enable the Account Switch Check as an add-on.

This is the Account Switch Check

  • Notification when initiating payments

    Banks that use SurePay’s Account Switch Check will inform the customer if their intended payee has switched banks. This helps them transfer money to the new IBAN, which payers can store immediately in their address book. This will improve the adoption speed of new IBAN’s after switching banks.

  • Account Switch Check for financial institutions and businesses

    The Account Switch Check is available as an add-on for the IBAN-Name Check API. When a payment to a switched account results in a ‘Match’ or ‘Close Match’ the API will return notifications with the new IBAN. When there’s a ‘no match’ check result, the new IBAN is not returned for obvious reasons, such as potential phishing. We can add the Account Switch Check to the IBAN-Name Check API for our clients upon request.

  • Banks comply with ‘BIBI’-rules with the Account Switch Check.

    Dutch Payments Association asks all banks that are part of the ‘Switching Service (Overstapservice)’ to implement BIBI (acronym, meaning ‘to inform a payer about an account switch when initiating a payment’) in 2020. Before 2020 ends, these banks will notify consumers in their mobile or web banking app about an account switch of a payee. To comply with BIBI, a bank needs only to implement SurePay’s Account Switch Check.

Benefits of the Account Switch Check

For banks

  • Available as an add-on to IBAN-Name Check API for banks
  • Using ‘Switching Service (Overstapservice)’ data as provided by the Dutch Payments Association (for participating banks)
  • Immediate effect in online banking apps, just like the IBAN-Name Check
  • Payers can save the new IBAN directly in their banking address book.
  • To comply with BIBI in 2020, a bank needs only to implement SurePay’s Account Switch Check.
  • Well protected against phishing.

For businesses and organisations

  • Available as an add-on to IBAN-Name Check API for businesses and organisations
  • Available when your own bank participates in the ‘Switching Service (Overstapservice)’ and grants you permission to process that data.
  • Applicable in your own software and systems, just like the IBAN-Name Check.
  • Store the new IBAN directly in your own CRM system.
  • No delays or extra administration required, when a client switches banks.

Additional information about the Account Switch Check

We’d be delighted to discuss your options. Please feel free to contact us!

Contact SurePay