Use BankVal bank validation for bank sort code and account number checking in real time as the details are entered into your system.
Less time spent chasing failed transactions means more time spent on the more important parts of running your business.
It costs an average of £50 to correct a transaction with inaccurate details, due to wasted company time. (Source: Bacs)
Improved customer perception
Most customers won’t appreciate being asked to correct their details weeks after the fact. Make their payment experience as smooth as possible using sort code and account number checking and validation.
1 in 40 sort code/account details are entered incorrectly.
Source: BankVal usage statistics
Modulus checks and validates sort code and account number combinations
Returns bank branch address
Transposes non-standard account numbers into Bacs format
Checks if branch allows Direct Debits, Direct Credits, CHAPS and Faster Payments
Meets Bacs validation requirements for Direct Debit
No software to install. BankVal has a cloud based API, so it can be easily integrated anywhere in your system. Use at point of data capture on your web page, your back office systems and on your paperless Direct Debit page.
BankVal servers are updated weekly with the latest EISCD sort code data and validation rules. Keep your payments and collections running smoothly.
Receive support from our UK-based expert engineers. We’ll help you get up and running and make sure you get the most out of our service. We pride ourselves on our quality support and business knowledge.
Meet Bacs requirements for Direct Debit Compliance
For Paperless Direct Debit Compliance Bacs states that: “ It is the organisations responsibility to verify the customer and validate their details. For example identity, account details, customer address”
BankVal can help you meet these requirements with a suite of Fraud Detection and Know Your customer checks
Hastings is a UK based broker offering a wide range of personal lines Insurance products and services, this includes private car, motorcycle, home and commercial van. Alongside this we offer a number of complementary products such as personal accident, legal, breakdown and substitute vehicle cover.
In 2010 we set out to improve our online customer experience and deliver internal efficiencies in our direct debit set up and collection processes.
Our requirements to deliver this were simple: we needed an externally hosted, cost effective solution, that was highly responsive, accurate and provided excellent levels of availability for our 24 hour business.
The Unified BankVal service was selected as our solution of choice and has been successfully delivering this functionality since 2010.