Switch Check
IBAN-Name Check Add-on
Would you like to know immediately whether a contact person or company has switched to another bank? With the Switch Check from SurePay you see this automatically.
How does it work?
The Switch Check from SurePay uses the data to indicate whether an account holder has switched to a new bank. The new IBAN is simply stored with customer data in his address book.
Are you already using our IBAN-Name Check API?
Then you can easily add the Switch Check to this.
This is the Switch Check
Notification upon initiation of payment
If a bank uses the SurePay Switch Check, the payer will be notified when the payee has switched to another bank. This way he can immediately pay to the new IBAN and update his address book. This speeds up the adoption of new account numbers.
Switch Check in the API for banks and companies
The Switch Check is available as an extra service in the IBAN-Name Check API. In case of a “match / near match” result to a switched beneficiary, the API issues a notification with the new IBAN. With a “no match”, this is obviously not given to discourage phishing of account numbers. In consultation we can make the Switch Check available to users of the IBAN-Name Check API.
Banks comply with BIBI with the Switch Check
The Dutch Payments Association requires all banks participating in the Switching Service to introduce BIBI (Informing Payers At Initiation) by the end of 2020 at the latest. These banks will show their customers a notification by the end of 2020 for persons and companies that have switched, via mobile banking or online banking. By using the Switch Check, a bank immediately complies with BIBI.
Advantages of the Switch Check
- Available as an extra service with IBAN-Name Check for Banks
- Using the entire Switching table of the Dutch Payments Association (for participating banks)
- Can be applied directly in the online banking environment, just like the IBAN-Name Check
- New IBAN can be directly stored by customer in address book
- With the Switch Check, a bank complies with the regulations of the Dutch Payments Association (BIBI) at the end of 2020
- Obviously well protected against phishing
Overview additional features
for Banks
PayID
With SurePay PayID customers can now easily and securely pay in your Banking App to friends and acquaintances on their contact list. In the future we will add more identification options to this service. SurePay PayID uses the smart IBAN-Name Check algorithm for this.
European IBAN-Name Check
The IBAN-Name Check on international accounts. This enables organisations to check that the account information entered matches the intended beneficiary when initiating cross-border payments.
Switch Check
A service that is provided by the banks due to regulation to make it easy for a consumer to switch from a bank. When a customer has moved to a new bank the company needs to ask the customer to update their payment details.
This can easily be done by the Switch Check; if the IBAN-Name Check matching result is a “Match” or “Close Match” and the switching service is “active”, the new correct IBAN of the user will be provided. Companies can automatically update the correct payment details and skip multiple steps in the process.
Are you ready to start using the Switch Check?
Integrate the Switch Check in your IBAN-Name Check API
Have you already integrated the IBAN Name Check API into your systems or are you interested in implementing it with the Switch Check as an additional feature? Then schedule an appointment to discuss the options for your bank.
