TransUnion is the new trading name of Callcredit in the UK. The usual high levels of service and products will continue as normal whilst we update the brand over the coming months.

Bank Validation

As part of the CallValidate solution, Bank Validation provides you with a flexible menu of account verification checks to give extra reassurance that your customer is genuine and provide effective fraud prevention.

What it does

Bank validation allows you to:

  • Quickly and accurately validate that a bank account is live;
  • Verify the bank details belong to the name and address provided by the customer, allowing you to quickly verify the individual and reduce the need for further checks;
  • Identify who the bank account owner is if the details cannot be linked to the given name and address, increasing your ability to prevent fraud;
  • Check whether a bank account is a non-consented account.

How it works

We check bank details with the following services:

  • Bank Standard - checks that the sort code and bank account numbers are valid, along with the bank name and branch address. It also provides information on what types of transactions are allowed to be made on the account, for example Direct Debits.
  • Bank Enhanced - links the bank account details given to the name and address provided. A confidence level is returned depending on the level that the bank details can be matched to the name and address.
  • Bank Account Plus - provides confirmation if a bank account is non-consented or high risk, which offers extra validation that the bank account details are genuine if they were not matched on the previous checks.

Find out more

Want to learn more about Bank Validation and CallValidate? Contact us today.

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