Validate Recipient's Bank Account in API Transaction

Modified on Wed, 20 Mar at 3:39 AM

Verifying the accuracy and validity of the recipient's bank account is essential to optimize transaction success rate. This article explains how to do bank validation in API transactions.

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Ensuring the validity of the recipient's bank account is crucial to prevent transaction declines and maintain a high success rate. While our bank account validation endpoint is optional, we highly recommend its usage to minimize the risk of processing transactions with invalid bank account details.

The Importance of Validating the Recipient's Bank Account

Validating the recipient's bank account offers several benefits. It helps to:

  1. Prevent Transaction Declined: By validating the bank account before processing a transaction, you can avoid potential declines caused by incorrect or invalid account information. This reduces the chances of failed transactions and associated complications.

  2. Maintain High Success Rate: Validating recipient bank accounts helps maintain a high success rate for transactions. By ensuring the accuracy of bank account details, you increase the likelihood of successful transfers, improving customer satisfaction and operational efficiency.

How to Validate Recipient's Bank Account

Local Transfer API

To validate the recipient's bank account for local transfers, you can use our endpoint here. Simply include the bank name and account number as parameters in your API request. The bank account number should be a 6-20 digit numerical value.  In response, you will receive the account owner's information, including their name, account number, bank name, and the maximum amount that can be transferred (specifically for DANA), thereby confirming the validity of the bank account.

International Transfer API

For international transfers, direct validation of the recipient's bank account is currently not available. However, we provide SWIFT Code validation as an alternative solution. You only need to provide the SWIFT Code of the recipient's bank, and our system will verify its correctness and authenticity. This ensures that the SWIFT Code corresponds to a valid bank for international transactions.

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