Account Status
We verify Account Status instantly – covering 100% of bank accounts in the U.S., including non-traditional accounts at digital banks and credit unions. This first tier of verification – built on FedNow – fulfills Nacha requirements by determining whether an account is open, valid, and ready to send/receive payments. Unlike traditional microdeposits, we don’t rely on end users, eliminating customer friction.
Account Control
This second tier of verification is 160x faster than traditional microdeposits and ensures the end user has control of the account, helping combat Reg E fraud. Verify drops a random code into the bank account and prompts the user in real-time to authenticate it – removing the lost time and expense of microdeposits.
Account Ownership Via Name Match
This third tier determines for consumer accounts whether the first name and/or last name provided matches data tied to the account being verified.
Best Anti-Fraud for Lending
“Verify is a step forward in an industry still plagued by invalid credentials, friction, and fraud.”
– Tearsheet Data Awards
