The highest level of bank account verification available

What does it do?

Uses proprietary data from a vast network of financial institutions, small and community banks and credit unions. When requested, manual calls are added to provide the highest available level of verification of funds.

Offers unlimited validation attempts without harming the consumer’s credit and is available in three levels of verification - MBV Basic, MBV Premium, Unable to Verify.

MBV Basic

Available for batch processing or via a flexible API and does not require consumer authorization of participation with the bank. Data is usually returned within 24 hours of submission. Often sooner. Basic verification returns the following information:

• Validates that a bank account is open, active and has a positive balance
• If possible, confirms account type (checking, savings, money market, etc.)
• If possible, validates if a specific debit amount will clear

MBV Premium

Evaluates the same data as Basic and adds a direct, 3-way call between consumer, their financial institution and an MBV representative. Advantage verification returns the following information:

• Validates that a bank account is open, active and has a positive balance
• Confirms account type (checking, savings, money market, etc.)
• Confirms the account is eligible for ACH debits
• Provides the date the account was opened
• Confirms if the account is jointly owned
• Confirms if there are other linked accounts at the financial institution

What is it used for?

A powerful tool for consumer lending, casinos and other entities looking to establish a line of credit or loan.

• Verify account validation and balance information
• Evaluate the ability to pay
• Improve ACH success rates
• Reduce returns and overdraft fees
• Eliminate administration, account not found, and account closed returns
• Meet compliance requirements with NACHA thresholds for fatal returns