Bank Account Verification (Penny Drop)

Bureau’s Penny Drop Bank Account Verification API enables you to confirm the authenticity and validity of a bank account before initiating any financial transfers to it. Pass the account number and IFSC in the API request. We will make a deposit to the account, obtain the account details from the bank, and return them to you in the API response.

How it Works

To use this service, input the account number, IFSC, and the account holder’s name into the API. Our system attempts to make a nominal deposit (₹1) to the account. Upon successful deposit, we receive the account status and the account holder’s name directly from the bank.

In addition, we offer a name match score, which compares the name you provided with the name returned by the bank. This extra verification step helps you make informed decisions about transferring money.

Penny drop flow

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API Rate Limit

By default, this API allows for a maximum of 5 calls per hour. If you attempt to make more than 5 calls within an hour, you’ll receive a 400 error message, indicating you have reached the hourly limit for the API.

Contact our Support Team if you want to increase this limit.

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Double Check IFSC

When verifying an account, we use IMPS to deposit money to the account. This means only the first four letters of the IFSC code need to be correct. The remaining digits can be incorrect or arbitrary.

For example, let us say there is an account number 12345678901 with the IFSC code HDFC0000123. Our bank account verification API can still successfully deposit money and fetch the necessary details even if you provide HDFC0000999 as the IFSC in the request.

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