IBAN and BIC check: transposed digits are spotted before money moves.
On every entry, the WorkOrderAgent verifies the IBAN check digit and compares the IBAN and BIC against the bank directory. A mistyped letter or a swapped digit is spotted immediately.
Where the check applies
Wherever bank details enter the system.
- SEPA mandate in the customer portalWhen your customer signs the mandate on screen, the IBAN and BIC are checked directly against the bank directory.
- On every entryWhen you enter bank details yourself, the check digit and bank directory comparison run too.
- Plus payee verificationFor transfers to suppliers, the system also checks the payee's name (Verification of Payee).
Related
Bank details you can rely on
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