Verifying the Importance of Bank Account Verification
A business that exceeds the maximum threshold for returned ACH payments is at risk of being fined or losing access to the ACH Network. As a way of keeping ACH returns to a minimum, businesses need a reliable bank account verification method to ensure funds are going to and coming from legitimate bank accounts.
Dwolla’s Instant Account Verification (IAV) tool can be implemented using a few lines of code. Embedding Dwolla IAV into your business’s payment solution will allow a new user to input their online banking username and password to verify their funding source in seconds.
Attaching Unverified Funding Sources
Embed a form to collect the customer bank account and routing number to initiate micro-deposits that will confirm the customer can access the bank account.
Integrate with a partner in Dwolla’s ecosystem that offers bank verification by using a unique token to create a verified funding source within Dwolla’s ACH API.