Signzy Bank Account Verification API

• The Signzy Bank Account Verification API enables real-time validation of a bank account number against the account holder’s name. It helps businesses, fintechs, NBFCs, and payment platforms verify if the account details provided by users are accurate and match official bank records—reducing payment failures, fraud, and regulatory risk.

Major Customer

• Razorpay, Navi, PayU, Muthoot Finance, Lendingkart

• These companies use Signzy’s Bank Account Verification API to ensure secure fund transfers, improve payout success rates, and comply with banking KYC norms.

Fees

• (Signzy) follows a usage-based pricing model, suitable for both high-volume platforms and low-frequency KYC checks.

• (Contact us) to get a tailored quote based on your verification volume and use case.

Features & Integrations

• Real-Time Verification: Matches account number with the account holder’s name using bank networks
• IFSC Validation: Ensures correct bank code is mapped to the account
• Fraud Detection: Flags mismatches, closed accounts, or non-existent accounts
• Secure & RBI-Compliant: Fully encrypted and compliant with Indian financial data protection laws
• Bulk Verification Support: Validate multiple accounts in batch mode for vendors or customers
• Easy API Integration: Plug into your payout system, CRM, onboarding module, or ERP with ease

Use Cases of Signzy Bank Account Verification API

• Payout Validation Before Disbursal: Verify if the account number matches the account holder’s name before transferring funds for loans, salaries, refunds, or commissions.
• Loan Disbursement Accuracy: Ensure that approved loan amounts are sent to verified borrower bank accounts to prevent misdirected payments.
• Fraud Prevention in Payouts: Prevent fraud by validating account ownership and catching mismatches in beneficiary details.
• Vendor & Supplier Onboarding: Confirm bank account details of merchants or service providers before onboarding for B2B payments.
• Insurance Claim Settlements: Validate beneficiary bank details before releasing insurance claim payouts to ensure compliance and accuracy.
• Gig Worker & Freelancer Payments: Ensure correct and verified account holder names for large-volume payout systems (e.g., delivery agents, influencers).
• Wallet KYC & UPI Linking: Use account verification before linking bank accounts to wallets, UPI handles, or payment apps.
• Refund Management in eCommerce: Verify customer bank accounts before issuing large refunds or cashback settlements.
• Employer Payroll Processing: Cross-verify employee bank accounts to prevent salary credit errors or ghost employee payouts.
• Regulatory Compliance & Audit Trail: Maintain verified payment flows that comply with AML, KYC, and audit-ready payment infrastructure.

Advantages of Using Signzy Bank Account Verification API

• Reduces Transaction Failures: Prevents errors and returns caused by incorrect account details

• Prevents Fraud: Verifies identity before processing payments or disbursals

• Accelerates KYC & Onboarding: Quickly validate beneficiary details in real time

• Improves Customer Trust: Ensures that funds are transferred to the right recipient

• Built for Scale: Handles large volumes for enterprise platforms with ease

• If your business needs a fast, compliant, and secure solution to validate Voter ID details, the Signzy Voter ID Verification API is a trusted tool across India’s digital onboarding landscape.