SurePay’s IBAN-Name Check is now also available to Buckaroo customers. This validation check is particularly interesting for customers with large numbers of direct debits, also known as SEPA Direct Debit payments. The IBAN-Name Check is used to check the correctness of the payment details of new customers, suppliers or employees. This prevents fraud and errors.

Less dropout

Our solution checks whether the given name matches the given account number. This brings to light any incorrectly transmitted information at an early stage and reduces the chance of transaction failures. The use of the IBAN-Name Check gives businesses more certainty when processing direct debits and credit transfers. Businesses can perform the IBAN-Name Check prior to a periodically recurring direct debit batch. The check can also be used as a fixed part of a Know Your Customer (KYC) process.

How does it work?

Companies can build the check into their own payment or business processes. If something is wrong with the bank account number or the name, a message appears. Businesses decide for themselves in what form notifications are visible. If an IBAN number does not exist at the bank, or has a different ascription than stated, this can be a reason for whether or not to accept a customer. This prevents fraud and errors and ensures that the company has the correct customer data.

Ramon Verweij, Head of Marketing at SurePay: “More than 150 companies are already making their processes safer and more efficient with the IBAN-Name Check. This makes online onboarding of new customers smoother, checking customer details is no longer a manual process and you know for sure that you are collecting from and paying to the right person or company. We are pleased that through this partnership our service is also available to Buckaroo customers.”

Lars Smit, Head of Marketing at Buckaroo: “An unsuccessful or incorrect direct debit causes many challenges, such as high costs and administrative actions. SurePay’s IBAN-Name Check can prevent this. It’s an interesting product for improving payment conversion. Particularly for businesses with subscription-based payments, but also for those with payments to third parties, such as marketplaces. It is particularly important for the continuity of your cash flow that collections are successful.”

Integrating SurePay into your payment and onboarding process? You can apply via buckaroo.nl/surepay.