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. First, our system attempts to retrieve the account details directly from the bank and return them to you in the API response. If we are not able to do this, we make a nominal deposit to the account, obtain the account details from the bank, and return them to you in the API response.
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.
API Rate Limit
- This API has a rate limit of 5 API calls per hour when making a deposit to the account to retrieve the account details. If you attempt to make more than 5 calls within an hour, you’ll receive a
400error message, indicating you have reached the hourly limit for the API.- Your default rate limit will apply when retrieving account details without making the deposit.
Contact our Support Team if you want to increase these limit.
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.