Payment Pre-validation

How it works

Before sending a payment, banks can check that the beneficiary account information matches that of the ultimate receiving banks. This is done in real-time via an intuitive API-based mechanism.

Initiating banks are also able to verify key details before their transactions are sent, including whether the data in their payment instructions is correct or if it matches the requirements of the destination country.

Still got questions on how Payment Pre-validation works? Check out our FAQs.

Predictable payments

Experience greater predictability and ensure all your payments complete first time by pre-validating key message details upfront. Confirm the beneficiary’s account is open and ready to receive funds in your chosen currency, and double check that the name matches the one on the account directly with the beneficiary bank or using pseudonymized account statistics if the beneficiary bank is not connected to pre-validation.

Confirming these details at the beginning of the payments process allows any issues to be identified and resolved before a payment is sent, resulting in fewer delays and a frictionless customer experience.