Bank Risk Checks

Bank risk checks for both individuals and businesses

You can verify bank accounts for both individuals and businesses using bank consortium data. The checks verify account status (e.g. is the account open and valid) and ownership (e.g. does the owner match the user).

The benefit of this type of verification method is that it is instant, unlike microdeposits. Additionally, users are not required to provide their bank account credentials, just their name, account number, and routing number.

The data covers over two thirds of bank accounts in the United States, with particularly strong coverage at large financial institutions.

Go to the External Account Verification Guide for more information on alternative bank account verification methods like microdeposits and Plaid.

The below table describes what information is required. The optional fields help with matching.

Required FieldsOptional Fields
Name (first name and last name for individuals, business name for businesses), bank account details (account number and routing number).Address, taxpayer identifier.