Bank account validation for compliance
Validate bank account and routing number are open, valid, and ACH-capable to ensure Nacha WEB debit compliance
As a Nacha preferred partner, we provide comprehensive bank account validation solutions that comply with Nacha’s WEB debit account validation rule. Our vAccount™ solution verifies consumer bank accounts instantly to help minimize payment issues, manage risks, and improve efficiencies within current workflows.
Verify bank accounts in real-time with our vAccount™ solution so you can cost-efficiently confirm transactions are secure, while reducing manual reviews and ensuring a smooth customer experience.
vAccount™ can be used to:
- Comply with Nacha WEB debit rule and evolving regulations
- Streamline application and onboarding processes
- Reduce fraud prior to making payments
- Accelerate consumer transactions
Real-time bank account validation
Using the bank account and routing number, we validate details against our proprietary database network and return insights in a matter of seconds to help you assess bank account quality and level of risk in real-time:
- Rank order risk using Account Validation Codes
- Confirm account and routing numbers are valid, active, and ACH capable
- Confirm structure of account matches financial institution conformity
- Determine quality by assessing transaction history
The value for your business
Low Friction Solution
Validate bank accounts in real-time with no customer friction.
Ensure Compliance
Adhere to changing regulations with a Nacha preferred partner.
Reduce Risk
Proactively detect fraud and payment-related issues.
Related resources
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vAccount +
Validate bank accounts and unlock additional critical insights for increased coverage and predictability.
vConnect
Intuitive login interface to unlock verified validation and cash-flow underwriting.
Frequently asked questions
Bank account verification or bank account validation is the process that confirms a bank account is open, valid and ACH capable.
vAccount™ is an account validation tool to help organizations ensure Nacha WEB debit compliance. Cost-efficiently validate the status of a given bank account prior to onboarding consumers or making payments.
Organizations that send or receive ACH (Automated Clearing House) payments need to comply with NACHA (National Automated Clearing House Association) rules. This includes
- Financial institutions including banks and credit unions
- Payment processors such as payroll providers
- Organizations and businesses that send or receive ACH payments such as auto finance companies, property management companies
These rules ensure security, protect against fraud, and maintain the efficiency of the ACH network.
The NACHA WEB Debit Rule requires Originators (businesses or payment processors that initiate ACH transactions) to validate a consumer’s bank account when it is first used for a WEB debit. This helps ensure the account is legitimate and accessible.
Many customers leverage vAccount™ as a cost-effective account verification tool for compliance.
As an account validation solution, vAccount™ requires routing and bank account number in order to determine if it is a valid, open and ACH capable account.
Yes, all customers are required to report their performance data as we are a give-to-get data model. By doing this, all customers gain tremendous value from accessing a much larger database of information than they would without data contribution across the network.