Question 1

What is an IBAN check?

Accepted Answer

An IBAN check verifies whether a provided IBAN number is valid and correct. This includes validation of the structure, country code and bank identification. Additionally, the account holder name can be checked to verify that the account is in the correct person's name.

Question 2

Why is IBAN verification important?

Accepted Answer

IBAN verification prevents payment errors from incorrect account numbers, protects against fraud where someone provides a different account number, and ensures that salaries and reimbursements reach the right person. It is an essential part of onboarding new employees.

Question 3

How does the account holder check work?

Accepted Answer

During the account holder check, the name of the account holder is compared with the name provided by the candidate. Otentica reports whether there is a match and flags discrepancies so you can take action.

Question 4

Does the IBAN check also work for foreign accounts?

Accepted Answer

Yes, the IBAN check supports all SEPA countries and many other countries worldwide. The validation checks the country-specific IBAN structure and bank identification. The account holder check may provide more limited results depending on the country.

Question 5

How quickly do I get the result?

Accepted Answer

The IBAN check is performed in real-time. As soon as the IBAN is entered, the result is available within seconds. This applies to both the validation and the account holder check.

Question 6

What if the IBAN doesn't match the name?

Accepted Answer

If the account holder name doesn't match the candidate name, Otentica reports this as a discrepancy. This can have legitimate causes (such as a joint account or different name spelling), but can also indicate an error or fraud. You receive sufficient information to assess this.

Question 7

Is the bank data stored?

Accepted Answer

The IBAN data is processed according to your configured retention periods in Otentica. You determine how long data is retained. All data is stored encrypted and processed in accordance with GDPR.

Question 8

Is the IBAN check GDPR compliant?

Accepted Answer

Yes, the IBAN check is fully GDPR compliant. Bank details are sensitive personal data that are treated with extra care. The candidate gives explicit consent for the verification and all data is processed and stored encrypted.

IBAN verification

What is an IBAN check?

See how IBAN numbers are verified

Validation steps

Why use IBAN check?

IBAN validation

Instant results

Fraud prevention

Account holder

How does the IBAN check work?

Enter IBAN

Validation

Account holder check

Receive report

Frequently asked questions about IBAN verification

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