Banking
When the GET Banking Info call is made, two background processes are triggered: verification and authentication. These work together to confirm that a bank account is real, active, and that the person or business submitting it is authorized to use it. In order to properly verify and validate banking information, a specific set of data is required to return the appropriate verifications and validations. This information is captured in the POST Add Business endpoint. The following data validations will highlight what information is required to validate and authenticate banking information.
Verification
Verifying a bank account is done by capturing the account number, routing number, and account type (checking or savings). This information helps confirm that the account is valid, active, and associated with an authorized user, while also identifying potential risk signals.
Route:
Requirements:
The following 3 parameters are required to verify banking information:
Authentication
Authenticating the bank account is done by capturing the account number, routing number, account type (checking or savings), and either the company name or the account owner’s first and last name are sent. This ensures the person or entity submitting the account has the legal authority to access or transact on it.
Requirements:
In addition to the bank account number, routing number, and account type (checking or savings), the following is also required:
-
If a business account:
name
-
If a personal account:
owner1_first_name
owner1_last_name
This information will allow for banking information to be verified.