Nium Verify

Nium Verify is a real-time bank account verification solution designed to help businesses ensure the accuracy of account details before processing payments.

By verifying account details upfront, Nium Verify reduces the risk of payment failures, fraud, and helps you fulfill compliance requirements. It integrates seamlessly into your existing payment workflows, providing a simple and efficient way to validate bank account information across multiple regions and payout methods.

Nium Verify is available for both:

• Existing Nium clients who can add Verify into their existing Nium integration, seamlessly verifying accounts before creating beneficiaries.
• New Nium Verify users who want to verify bank account details independently, without Nium’s other services.

Verifying account details help ensure that payments are sent to the correct recipients. With Nium Verify, you no longer need a separate process for verifying bank account details, simplifying your integration and improving operational efficiency.

To sign up for Nium Verify, please contact your Nium account manager or Nium Support. Use of the Verify Service is subject to Terms of Service.

Using Nium Verify as a Nium client

Nium Verify offers an easy-to-implement Account Verification request you'll use to verify the account details of payees before creating a beneficiary and adding them to your platform. You can also confirm account details while creating a beneficiary.

Please note, the Account Verification request can only be used when the beneficiary#payoutMethod is LOCAL or PROXY. For more information on the different payout methods available, see Payouts - Overview.

When adding a beneficiary or account holder, there are two ways to verify their account details using Nium Verify:

• Before creating a beneficiary
• While creating a beneficiary

For guidance on testing Nium Verify, contact Nium Support.

For a breakdown of all the different payout methods available, see Payouts Overview.

Before creating a beneficiary

Use this approach to confirm account details before creating a beneficiary to ensure that only verified details are used in your Nium account.

• Step 1: Validate required fields
• Step 2: Submit account verification
• Step 3: Handle the response

Step 1: Validate required fields

Use the Beneficiary Validation Schema V2 request to determine which fields are required for the account’s region.

Step 2: Submit account verification

Submit an Account Verification request, and include the fields returned by the Beneficiary Validation Schema, along with the account holder’s details.

Step 3: Handle the response

Based on the response from the Account Verification request:

• verified: Proceed with creating the beneficiary using Add Beneficiary V2 request.
• not_verified: Review and confirm the account details and resubmit the request.
• not_supported: The account holder's country is not supported by Nium for verification.

Once the beneficiary is created, you can continue with creating Payouts as usual.

While creating a beneficiary

You can also verify account details at the same time as creating a beneficiary.

• Step 1: Add the beneficiary
• Step 2: Review account verification status

Step 1: Add the beneficiary

Use the Add Beneficiary V2 request. Alternatively, fetch the details of the beneficiary using the Fetch Beneficiary Details V2 request.

Step 2: Review account verification status

Check the status and name fields within the accountVerification object in the Add Beneficiary V2 or Fetch Beneficiary Details V2 response:

• verified: The account details are correct, and you can proceed with creating Payouts.
• not_verified: The account details are incorrect; verify and submit again.
• not_supported: The country is not supported for account verification.

Key concepts

Payout methods

The Account Verification request can only be used when the beneficiary#payoutMethod is LOCAL or PROXY:

Account verification statuses

Nium uses the following statuses to indicate the result of an account verification request:

Account verification error codes

If an error occurs during account verification, the following error codes get returned and indicates the issue:

Using Nium Verify independently

If you only need Nium Verify and do not use other Nium services, you can leverage Verify for direct account verification.

Using Nium Verify independently, you can submit account details directly for verification and review the status without integrating into a larger payment platform.

To sign up for Nium Verify independently, contact the Nium sales team.

Supported corridors

Nium Verify validates account information against clearing systems in supported countries. In some cases, Nium also provides the full name of the account holder associated with the bank account.

The table below outlines the countries where account verification is available and whether the account holder’s name can be retrieved.

• We are expanding Nium Verify to support more corridors. Corridors currently in development are marked as (Beta) and subject to additional changes. If you have any questions about using Nium Verify and a corridor, contact [email protected] or your Nium account manager.

For UK accounts: The the account holder's name is only returned for strong and partial matches. For weak matches, the name will not be returned. This matching process is standardized across all UK providers.