Account Verification

Overview

The Account verification (Confirmation of Payee) API also known as the confirmation of payee API enables you to ensure the money reaches the intended payee or beneficiary by verifying if the payee details including bank account number are valid.

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IMPORTANT

Account verifications are only supported when the payout method for a beneficiary is of type Local or Proxy.

Payee confirmation

User journey

When adding a beneficiary, use the following steps.

1. Call the Beneficiary Validation Schema V2 API to get the required fields.
2. Use the fields shown as required in the response data from step #1 and call the Account verification (Confirmation of Payee) endpoint.
3. Based on the response status from step #2, use one of the below 3 instructions for further processing
   1. If the response from step #2 returns verified or not_verified, you can proceed with adding the beneficiary using Add Beneficiary V2 API.
   2. If the response from step #2 returns confirmation_in_progress, wait for the webhook. You will receive Beneficiary Verification Status webhook to relay the final status.
   3. If the response from step #2 returns not_supported, it means Nium is not offering this capability for this country.

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IMPORTANT

We have updated the way to provide routingInfo data in Account verification (Confirmation of Payee) API. routingCodeType1 and routingCodeValue1 fields are now mapped to routingInfo array of objects with type and value fields respectively.

Statuses

Supported corridors for account verification

In order to verify accounts, Nium leverages a combination of looking up information provided by clearing systems for a given corridor and penny drop using its own global network.

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IMPORTANT

In countries where Nium verifies payee accounts using penny drop, the payee will see a small value deposit with the sender name as Nium.

In certain corridors, Nium is able to provide the full name of the payee associated with the bank account. The Account verification (Confirmation of Payee) API is supported in the following corridors and payout methods.