Reduce Rejected Debits and increase your collection rate with MyGate’s Account Verification and Account Validation services.
Save time and reduce bank fees by verifying an account holder against the account number and verifying that a branch code and bank account number are valid.
Bank Account Verification
MyGate’s Bank Account Verification Service (AVS) verifies the identity of an account holder against the account number supplied. This aids to ensure account holder information is correct before debit submission.
Account Verification Results can be viewed from reporting in the MyGate Web Console. All reports can be downloaded in CSV format. Results of the bank account number to ID match are either displayed as ‘positive’ or ‘negative’. If the status is displayed as incomplete then MyGate is waiting for the results from the bank. Results can take up to 24 hours.
Bank Account Verification verifies account holder’s name, ID / company registration number, bank account number, bank branch code, account status, length of time the account has been open, account type and whether the account accepts debits or credits. Verification fields may differ from bank to bank.