The Account Validation Guide
Verifying a consumer’s account is critical for maintaining compliance with Nacha’s WEB Debit Rule, requiring ACH originators to use “account validation.” (more…)
ValidiFI introduces a new standard for authenticating and validating bank accounts.
This service verifies the legitimacy of a bank account, the status of the account, and account structure. Additionally, it also has the ability to detect evidence of potential fraud prior to accepting payments.
We have the largest financial institution coverage at 31,000+ with over 48,000 connections for built-in redundancy.
Our proprietary account validation service is like nothing you have seen. We’ve combined the freshest banking and payment data with intelligent insights to transform your risk into confidence. With the highest bank and payment data coverage in the industry, we supply you with the insights needed to succeed. We are a Nacha preferred vendor, offering a combined solution to help maintain compliance and mitigate fraud.
Validates that a bank routing number belongs to a Financial Institution and is ACH capable, as well as validates that account number matches the structure issued by the financial institution.
A live ping of the consumer’s bank account to identify if the account status is currently open, closed, or invalid.
Proprietary database contributed into by businesses, merchants, and payment processors.
A proprietary database housing positive and negative banking data, cleansed and normalized into actionable insights.
An online business dealing with fraud related to accepting ACH payments reached out to ValidiFI for assistance. ValidiFI identified the tools to discover accounts that couldn’t be collected due to being invalid, closed, or poor performance. By including an account validation service during customer onboarding and payment acceptance, they were able to mitigate returns and reduce losses.
An online business dealing with fraud related to accepting ACH payments reached out to ValidiFI for assistance. ValidiFI identified the tools to discover accounts that couldn’t be collected due to being invalid, closed, or poor performance. By including ValidiFI’s Account Validation service during customer onboarding and payment acceptance, they were able to mitigate returns and reduce losses.