ACCOUNT VERIFICATION SYSTEM

Account verification batch service is developed to achieve greater levels of efficiency and as an additional fraud prevention measure to ensure that the bank account details match recipient identity details.

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Mobirise

Our unique Account Verification solution offers clients the option to do Account Holder Verification on account numbers with the option of paying to qualified beneficiaries only.

The system can basically validate all batch details and restrict payment to beneficiary details that have passed the AVS or internal criteria or even a preapproved beneficiary authorised list. This can prevent fraudulent or incorrect payments can be authorised and paid.

AUTHORISED BENEFICIARY VERIFICATION LIST

Clients can provide us with a list of beneficiary payment details in Excel format, and only payments that match the account details on the list, will be allowed to be processed through the system.

Transaction with Unmatched Beneficiary details will fail. 

ACCOUNT VERIFICATION SYSTEM-AVS

Clients can provide us with a beneficiary payment detail list in excel and we will verify all account details on the National AVS Database.

Only payments that match the account details on the AVS Passed list will be allowed to be processed through the system. Additional cost will apply for AVS Verification.

Mobirise

ACCOUNT VERIFICATION SYSTEM-AVS

Real time (AVS-R)
• Account details verified in real time have a maximum response time of 60 seconds.
• This service is available seven days a week from 03:30 to 24:00.

Near real time (AVS)
• Account details verified in near real time have a maximum response time of two hours.
• This service is available seven days a week from 03:00 to 16:30.
• A File can be submitted after cut off i.e 16:30 and before 03:00 - Irrespective of whether the file consists of Nedbank only or Nedbank and other Bank Accounts, the file will be processed at 03:00 when the other banks are available for processing and the turnaround time will be APPROXIMATELY two hours starting from 03:00.

Batch transaction limit:
AVS-R 1-10 transactions per batch
AVS-B 1-5000 transactions per batch

Results provided:
As per the AVS Layout definitions AVS checks for the following criteria and returns a Y for Yes, N for No and U for Undetermined.

account_exists
id_matched
initials_matched
last_name_matched
account_active
account_dormant
account_active_3months
can_debit_account
can_credit_account
account_type_match
Cellphone number
complete_match

It is completely up to the client to decided how many of the fields they deem non-negotiable / complete matches to categorise an account as verified.

A client is welcome to use our validation criteria. Out of experience we know that some fields are variables and therefore we have marked some fields compulsory matches and others optional. We allocate a 1 for a match and a 0 for an N & U. Each point counts towards a score and we deem an account verified if it matches 100% of the compulsory fields.

The compulsory fields only make up 50% of the checks but are in our opinion sufficient.

account_exists Compulsory Match
id_matched Compulsory Match
initials_matched Optional the merchant might not have the full initials if the client has a second name
last_name_matched Optional – Where a surname has changed the bank might not be up to date
account_active Compulsory Match
account_dormant Compulsory Match
account_active_3months Optional
can_debit_account Compulsory Match
can_credit_account Compulsory Match
account_type_match Optional – This is only relevant with Nedbank accounts as they are pretty much the only bank distinguishing between Savings and Cheque accounts.
complete_match Always the preference but not required
Cellphone number Optional

AVS.CSV TEMPLATE

USE THIS CSV LAYOUT TO UPLOAD AVS BATCH

Account NumberAccount TypeSurnameInitialsBranch CodeID/Passport/Business Registration/Trust NumberID TypeSub Billing IDClient User Reference 1BankClient User Reference 2Email AddressCellphone Number
12345678902SMITHJ
1987658001011111084SIDCAPE TOWNPAO1NEDBANKPAO1INFO@IOL.COM08398751221

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