Bank Account Verification [Penny-Drop]
Bank Account Verification API helps in verifying the account details before making any payouts. Businesses can use Sandbox API to verify bank accounts in real-time through the penny-drop mechanism.
Overview
The API takes in ifsc and account_number to verify the bank account by dropping a penny into the beneficiary bank account.
Problem
- Bank account verification is important for businesses as part of their KYC process.
- Businesses rely on customers to provide accurate bank account details.
- However, businesses have no reliable way to verify a bank account.
Solution
- API to verify Bank Account details by depositing INR 1 into the account.
- Incorporating this API into your customer onboarding journey for seamless bank KYC.
Endpoint
| HTTP Method | Resource |
|---|---|
GET | /bank/:ifsc/accounts/:account_number/verify?name={{name}}&mobile={{mobile}} |
Request
Follow the below guidelines to pass IFSC and account number for penny drop verification
Path Parameters
| Param | Type | Description | Example |
|---|---|---|---|
| ifsc | string | Alphanumeric code is used to identify the bank branches. Max length: 11 characters. | SBIN0021745 |
| account_number | string | Bank account number. Max length: 20 characters. | 026291800001191 |
Query Parameters
| Param | Type | Description | Example |
|---|---|---|---|
| name | string | Name of the Account holder. | John Doe |
| mobile | string | Mobile number of the account holder. | 9999999999 |
Sample CURL
curl --location --request GET 'https://api.sandbox.co.in/bank/HDFC0000001/accounts/026291800001191/verify?name=JOHN%20DOE&mobile=9999999999' \
--header 'Authorization: eyJhbGciOiJIUzUxMiJ9.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.nH23CR5RHGQ0U19I_vq3vyJ_85A1a2iEMQij5QHgJQdDuS9x7FmTidsr1CQabSFF5ujE40SFxHv1gJM20TauUw' \
--header 'x-api-key: key_live_Ade**************************Uxs' \
--header 'x-api-version: 1.0.0'
Test Environment Available
Response
| Param | Type | Description | Example |
|---|---|---|---|
| utr | string | UTR ID of the verification | 210219578183 |
| account_exists | boolean | Indicates if the account exists or not. Possible values:true or false | true |
| amount_deposited | num | Indicates the amount deposited. Possible values:1: Only if the penny drop was successful.0: Indicates that the account is already verified by our source and that this is a cached response.Note that this parameter's presence in the response body indicates if IMPS/NEFT/RTGS can take place on the verified account. | 1 |
| message | string | Returns message to know if the account was verified successfully or not. | Bank Account details verified successfully |
| name_at_bank | string | Name of the account holder | John Doe |
Response Caching
Response caching has been enabled for this API. You can identify a cached response with the X-cache header. The response from this API will be cached for 12 hours. There will be no wallet charge for cached responses. Learn more about our response caching mechanism here.
Wallet Charges
Since Bank Account Verification (penny-drop) is a Paid API, a wallet charge of INR 1.75 + GST per API call will be applicable.
Note that if the status code is 200 but the penny drop did not take place, then the wallet charge of 0.75 + GST will take place as a verification charge. The reason for the failed penny drop will be mentioned in the response.
Versioning
The API is currently in major version 2.0. Refer to the below table for the versioning history of this API along with the Changelog.
| Version | Description | Link to the endpoint |
|---|---|---|
| 2.0 | Multiple failovers have been added. View the full changelog here. | |
| 1.0 | This is the first version which will be deprecated soon. | |
Refer to our versioning policies here
Updated 4 months ago