Validate Bank Account v3
All of Validate Bank Account - enhanced with smarter routing, higher success rates, and zero configuration hassle.
Overview
Decentro’s Validate Bank Account (VBA) v3 offers a smarter, more resilient, and higher-success-rate way to verify bank accounts in real-time.
With this upgraded version, Decentro automatically selects the most optimal provider at the time of the request, ensuring faster response times, reduced downtime, and improved verification success rates.
VBA v3 seamlessly integrates with multiple partner banks and verification providers behind the scenes — allowing you to focus on your business logic while we handle the routing and reliability.
What's New and Better?
| Feature | VBA v2 | VBA v3 |
|---|---|---|
| Provider selection | You had to manually specify which provider to use. | Decentro automatically picks the best provider for you. |
| Multi-banking architecture | Single provider per call. | Parallel availability across multiple providers ensures redundancy and fallback. |
| Routing | Static routing. | Intelligent routing logic based on real-time provider health. |
| Improved reliability | Manual retries needed. | Automatic failover to alternate providers if a verification attempt is inconclusive. |
| Higher success rate | Dependent on one provider’s uptime. | System-optimized selection ensures consistently higher success percentages. |
| Single API call | Required specifying providers. | Just hit the API once - Decentro handles the rest. |
Key Use Cases
VBA v3 can be used for multiple verification scenarios across industries and workflows:
- Pre-disbursement check: Validate a bank account before disbursing funds, setting up mandates, or onboarding beneficiaries — avoiding operational overheads or failed disbursements.
- Risk & compliance verification: Ensure the bank account belongs to the intended user before processing refunds, payouts, or collections — preventing misdirection and fraud.
- Source-of-funds validation: Verify the ownership of the linked bank account to comply with KYC/AML regulations, especially for investment, insurance, or lending platforms.
Verification Modes
VBA v3 supports all the verification modes available in earlier versions, now backed by the intelligent provider selection layer:
- Penny Drop: Performs a ₹1 test payout to validate the account and retrieve the account holder’s name and status. Suitable for all IMPS-enabled bank accounts across India.
- Penniless: Verifies account validity and ownership without any fund transfer. Ideal for high-scale verification where speed and cost efficiency are critical.
- Hybrid: Automatically switches between Penny Drop and Penniless depending on provider availability and bank support — maximizing success while minimizing cost.
Whats More? (Upcoming Capabilities)
- Bulk Support
- Dashboard Support
Please reach out to us at [email protected] if you are our existing customer.
Updated about 2 hours ago