Banking · Payouts
Confirm an account is real, active and belongs to your customer before you disburse — penny-drop verification with IFSC validation and beneficiary name match.
Overview
What the Bank Account Verification API does
FinHub's Bank Account Verification API uses a penny-drop (and pennyless, where supported) to confirm that an account number and IFSC are valid and active, and returns the registered beneficiary name for matching. It's the safeguard that stops failed payouts, misdirected disbursals and mandate fraud — with consent and audit trails on every check.
Inputs
- Account number
- IFSC code
- Expected beneficiary name (optional)
- Consent artifact ID
Returns
- Account validity & status
- Registered beneficiary name
- Name-match score
- Bank & branch (from IFSC)
POST /v1/bank/account/verify
How it works
Three steps to a verified result
Submit account + IFSC
Send the account number and IFSC with an optional expected name and a consent artifact.
Penny drop verification
FinHub validates the account via a real-time penny drop and resolves the bank/branch from the IFSC.
Match & decide
Receive the registered beneficiary name and a match score, sealed to your audit trail — before any money moves.
Use cases
Where teams use Bank Account Verification
- Loan disbursal and payout verification
- eNACH / eMandate setup
- Vendor and merchant bank verification
- Refunds and beneficiary onboarding
FAQ
Bank Account Verification API — FAQs
Common questions about FinHub's Bank Account Verification API.
Penny drop verification deposits a tiny amount into an account to confirm it is valid and active and to fetch the registered beneficiary name for matching, without needing the account holder to act.
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Ready to add Bank Account Verification to your flow?
Book a demo and see the API return a verified result on your own test data in minutes.