Verifying counterparty accounts is key to maximising payment success rate and reducing fraud. With Numeral, companies can verify their counterparty accounts prior to sending or collecting payments.

Verifications include:

Account number structure
Bank code
Account holder
Account status

This feature is available in the dashboard and through the API.

Verifications

Verification	Description
Account number structure `valid_account_number`	Numeral verifies the account number structure, including: - Check digits - Length, depending on country - Authorised characters
Bank code `matching_account_number_and_bank_code`	Numeral verifies that the bank code matches the account number. In case it does not match, the correct bank code is returned.
Account holder `matching_account_holder`	For supported banks, Numeral retrieves the account holder name from the bank holding the account. In case of a close match, the correct account holder name is returned.
Account status `active_account`	For supported banks, Numeral retrieves the account status from the bank holding the account

Verify a counterparty account in the dashboard

To verify a counterparty account in the dashboard, create a counterparty account or go to an existing counterparty account and click on Verify account under the Actions menu.

Verify a counterparty account with the API

To verify a counterparty account with the API, use the Verify counterparty account endpoint. The API returns the counterparty_account with the account_verification attribute updated.

curl --request POST \
     --url https://sandbox.numeral.io/v1/counterparty_accounts/c3fd9ee4-2aab-11ed-a261-0242ac120002/verify \
     --header 'Accept: application/json' \
     --header 'Content-Type: application/json' \
     --header 'X-API-Key: Your_API_Key'

{
   "id": "b38f5318-a389-4278-9cbe-d16116750982",
   "object": "counterparty_account",
   "name": "PartnerCo EUR account",
   "counterparty_id": "c3fd9ee4-2aab-11ed-a261-0242ac120002",
   "holder_name": "PartnerCo",
   "holder_address": {
      "line_1": "1, rue de la Bourse",
      "line_2": "",
      "postal_code": "59000",
      "city": "Lille",
      "region_state": "",
      "country": "FR"
   },
   "account_number": "FR7601234567891127967100082",
   "bank_code": "BNPAFRPPXXX",
   "status": "pending_approval",
   "status_details": "",
   "account_verification": {
     "result": "verified",
     "active_account": {
       "result": "valid",
       "details": {
         "reason": "",
         "message":""
       }
     },
     "valid_account_number": {
       "result": "valid",
       "details": {
         "reason": "",
         "message":""
       }
     },
     "matching_account_number_and_bank_code": {
       "result": "valid",
       "details": {
         "reason": "",
         "message":" ",
         "expected_value":""
       }
     },
     "matching_account_holder": {
       "result": "valid",
       "details": {
         "reason": "",
         "message":"",
         "expected_value":""
       }
     },
     "created_at": "2024-01-03T11:53:19.734182Z",
   },
   "metadata": {},
   "custom_fields": {},
   "disabled_at": null,
   "created_at": "2024-01-03T09:53:19.734182Z"
}

Coverage

Verification	Countries supported
Account number structure	Europe
Bank code	Europe
Account holder	- France - Netherlands - More countries to come
Account status	- France - Netherlands - More countries to come

Data providers

Numeral supports a number of data providers to verify accounts:

IBAN.com
SurePay
SEPA Mail Diamond
Swift (planned)