Bank Account Verification by Cashfree Payments enables businesses to verify bank account details instantly and validate account holder names during onboarding KYC and before making payouts. The service provides a complete account verification suite covering bank accounts and IFSC codes.
Bank Account Verification is a service that allows businesses to verify the bank account details of users individually or in bulk via APIs and Excel upload. The verification ensures that payments are going to the right beneficiary by validating account numbers, matching account holder names, and verifying IFSC codes.
Verify bank account details of users individually or in bulk via APIs and Excel upload. The verification process is instant, providing real-time responses as soon as the request is submitted.
Verify beneficiary accounts, account holder names, and IFSC codes for 600+ banks including:
Note: Verification may not be possible for some co-operative bank accounts.
Perform single bank account verification or verify up to 10,000 bank accounts in one go through:
Verify the beneficiary name against the account holder name registered at the bank to ensure accuracy and prevent transfer failures.
Assign maker and checker roles to reduce human errors and achieve higher accuracy. The approval flow works as follows:
Verification can fail due to various reasons. The system provides exact reasons for verification failure in real-time, including:
Verify up to 10,000 accounts using powerful APIs or bulk upload via Excel without exposing sensitive financial data to any third-party.
With webhooks, get notified on single or bulk verification status in real-time.
Validate the accuracy of bank account details, match the name with account holder name, and verify if the IFSC is correct during customer onboarding.
Prevent payment failures and reversals by verifying account details before making transactions.
Ensure accurate payouts every time by making transactions fool-proof through account holder name verification.
Verify users and vendors to ensure that payout amounts are credited to intended beneficiaries only.
Verify bank account details and match the name registered at the bank to avoid transfer failures or reversals.
Ensure frictionless onboarding and verify user details at the bank to avoid details mismatch or failed transactions.
Authenticate individuals and users during onboarding or before disbursing insurance amounts.
Fastrack user onboarding and account activations with instant user/business account verifications.
Enable users to start investing on your platform faster with Bank Account Verification. Integrate APIs that are highly customizable and easy to use.
Verify bank details before disbursing loans to ensure zero transfer reversals or failures due to incorrect account numbers.
Verify bank account details and match the name of employees for a faster onboarding process and minimize failed transfers.
Integrate powerful Bank Account Verification APIs with your product using only a few lines of code and automate the onboarding process.
API Features:
Supported Programming Languages:
API Example (cURL):
curl
--request GET
--url https://payout-api.cashfree.com/payout/v1.2/validation/bankDetails
--header 'accept: application/json'
Single Verification:
Bulk Verification:
Perform 10,000 account verifications using powerful API or bulk upload via simple Excel sheet. Verify without exposing sensitive financial data to any third-party.
Add users (Maker and Checker) to your account and control permissions. Every time a Maker uploads a file to do batch verification, the Checker(s) can review the files individually, mark each record as valid or invalid, and approve or reject the file.
Verification can fail due to reasons like invalid account number, incorrect IFSC, blocked, frozen, or closed account. Know exactly why verification failed in real-time.
Cashfree Payments offers a complete verification suite beyond bank account verification:
Verify if a bank account exists, match name provided by beneficiary with name at bank, and minimize failed or transfer reversals. Know the accurate reason for verification failure.
The most exhaustive list of IFSC codes updated weekly. Verify whether the IFSC is valid, the bank name, and bank branch that it belongs to.
Bonus: Know the transfer modes supported - NEFT, IMPS, RTGS - and choose payout method accordingly.
Verify if the PAN is valid, identify the registered name of the card holder along with the nature of the card holder. Do a single verification or a bulk verification of up to 10,000 PAN numbers instantly via API.
Validate user's 12-digit Aadhaar number along with the OTP sent to the registered mobile number of users and get details like user's name, date of birth, father's name, user's image, address, gender, state, mobile number, and email ID in seconds.
Validate 15-digit GSTIN number and get details of valid GSTIN like GSTIN status, registered business name, nature of business, business address, and taxpayer type like regular, composite, and exempted.
Start with free Bank Account Verification with free credits worth ₹100.
Verify bank account details or branch IFSC in real-time at ₹3 per verification (GST applicable).
Custom pricing designed for enterprises with the following benefits:
Contact the sales team to explore the right product(s) for your payment needs and get custom pricing.
Make payouts to any bank account/card/AmazonPay/Paytm instantly even on a bank holiday. Verification APIs can be integrated with Payouts (charged separately).
Payout links enable you to send money without the receiver's bank account details. Verify the beneficiaries' account number to ensure money is credited to intended beneficiaries only.
Use Easy Split to seamlessly split commission and disburse payments to all partner vendors after every sale, and reconcile with ease. Run a marketplace with ease.
Zomato ensures quick and correct on-boarding of riders using Cashfree's API.
The foreign currency exchange platform uses Cashfree Payments for instant bank verification of money exchangers. As a platform facilitating 1600 crores+ currency exchange transactions, accuracy and speed while verifying accounts is a business prerequisite.
Cross-border payments processor Zilra no more needs scanned copies of cancelled cheques. It now uses Cashfree Payments to verify the account details in a paperless manner for onboarding freelance partners.
Bajaj Finance verifies its customers before activating any of their products like loans, insurance, FDs, or before loan disbursals for personal, business, or professional requirements.
Industry-leading solution with more than 97% success rate.
Cashfree Payments holds the following authorizations:
On Cashfree Payments you can verify account numbers instantly. As you submit the request, the API gives an instant response.
The verification can be done for all accounts of recognized Indian banks including all public banks, private banks, and 126+ co-operative banks.
Note: Verification may not be possible for some co-operative bank accounts.
On Cashfree Payments, you can do verification for any number of Indian bank accounts via two modes:
Manual Entry:
Using API:
No, there is no such limit. You can use the feature to verify any number of accounts in a day 24×7.
KYC or "Know Your Customer" is a process to be undertaken by businesses, especially financial institutions, to obtain information about the identity and address of customers. One of the key documents is bank account details as the same is regarded as valid proof for the identity of a person/entity.
While onboarding vendors, delivery partners, or even employees, an organization needs to do a bank account verification. Using Cashfree Payments API, this process can be automated and integrated with existing company internal systems so that the bank verification process happens smoothly, without exposing the data to any third party. You can also verify PAN, Aadhaar, and GSTIN of users or businesses with the Verification Suite.
The capability to verify accounts can be used in multiple business scenarios such as:
Yes, Payouts is different. Payouts users can integrate BAV to do the validation and will be charged separately.
Yes, if you are using Cashfree Payments marketplace settlement and want to use verification API as well, you need to opt for the feature separately. Cashfree experts will help you with integration and you will be able to use Cashfree Payments marketplace settlement and verification feature together.
The Plug and Play integrated account number verification API helps you confirm bank account validity. By accessing updated data, the risk of identity fraud and incorrect/incomplete data is reduced. The result such as account holder's name shown to you will be exactly as it appears in bank records.
Make payouts to any bank account / UPI ID / card / AmazonPay / Paytm instantly even on a bank holiday.
Instantly verify Aadhaar details of users with consent-based verification flow.
Verify the validity of user's PAN along with cardholder details, at scale.
Instantly verify GSTIN of vendors for quick KYC and onboarding.
Create an account to start using Bank Account Verification. Benefits include:
Cashfree Payments enables 1 Million+ growing businesses in India and across the globe to collect payments, make payouts, manage international payments, and more. Cashfree Payments is backed by SBI, Y Combinator, Krafton, and Apis partners and was incubated by PayPal.