Verify the ownership of a customer’s account

When making payments or collecting from bank accounts it is always a good option to verify that the bank account being used belongs to the company or individual that you intend transacting with . Netcash uses the Risk report service for AVS ( Account Verification services).
Payments to and from verified recipients will give you the peace of mind that you have paid to or debited the correct bank account.

To verify the owner of the account all you need is the account number, branch code, name and ID number of the customer you are verifying. When dealing with business bank account, the company registration number is used instead of the ID number.

The following information is returned when running AVS checks on Netcash:

Branch code:

Account number:

Identity number/Company reg. number:

Enquiry name:

Date enquiry was made:

Date enquiry was returned from bank:

Account number exists : Yes / No

Identity number/Company reg. number match: Yes / No

Last name match: Yes / No

Account active: Yes / No

Status: Successful / Unsuccessful

Mobile number:

Mobile match: Yes / No

Email address:

Email match: Yes / No

Account open more than 3 months: Yes / No

Accept credits: Yes / No

Accept debits: Yes / No

Here’s how you can verify account owner details:

1. Got to Services and click on Risk Reports

2. Click on Risk Reports on the left-hand menu and click on Consumer or Commercial depending on the type of entity being verified

3. Select Bank account verification and the insert the required information.

You also have the ability to import bulk verifications using an excel spreadsheets or you can speak to your Netcash consultant about fully integrating Risk reports and AVS with your software

For costs associated with the service, kindly refer to our pricing brochure or contact your Netcash consultant.

About Netcash

Established in 2003, Netcash is a payment solutions provider delivering debit orders, salary and creditor payments, Pay Now, eCommerce, and Risk Report services to South African businesses and organisations. The company provides multiple innovative and integrated online payment solutions that are efficient, simple, and cost efficient. Netcash is registered with the FSCA, PASA and is PCI DSS Level 1 compliant.

www.netcash.co.za