Bank Code Updates
Commercial Bank Code Updates
Our Bank Code Update Service allows you to efficiently retrieve an up to date bank code from listed banks in South Africa.
Bank codes are a critical component when assessing credit limits and credit worthiness of potential customers. Before extending credit to any businesses, request a Bank code update on the pbVerify system to the value you are going to extend credit.
After submission, the service makes contact with the customer's bank and request the latest bank code against the desired Rand value. The return bank report is kept in your pvVerify account and can be retrieved any time after it is received.
Bank code update is a standard feature within the pbVerify system and is also available to third-party integrators via an API.
Need this as an integrated service on your web-form or application layer?
No problem, we also offer full integration with any web service or software system via our XML SOAP API.
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How it works
A bank code is a code provided by the banks on the bank account holder. This is an investigation report that takes 24 hours and will
be delivered to you mailbox and on the main menu of the pbVerify website.
The user is required to enter the company details: bank name, branch, account number and the terms of the enquiry. For example should the company have signed a credit agreement of R10 000.00 for 12 months, the terms would be R10 000.00 at 30 Days over 12 Months.
The codes are:
- A = Undoubted for the amount of your enquiry
- B = Good for the amount of your enquiry
- C = Good for the amount quoted if strictly in the way of business
- D = Fair trade risk for the amount of your enquiry
- E = Figures considered too high
- G = Paper occasionally dishonoured
- H = Paper frequently dishonoured
pbVerify launches Bank Account Verification
Business and Consumer Bank account verification
Our Bank Account Verification Services allows you to efficiently verify the bank details of a consumer or business and determine the status of the account – whether the account is currently active, open or closed and whether it has been open for more than three months.
Bank account verification is a standard feature within the pbVerify system to easily verify whether the bank account details of a consumer or business is legitimate and active. This service is also available to third-party integrators via an API.
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