How to Validate a Bank Account in the UK

Written by dee taylor
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How to Validate a Bank Account in the UK
Finance (finance image by Christopher Hall from Fotolia.com)

Managing a business is a demanding enterprise, entailing the supervision of a number of segments. An individual's bank account is something that must be protected at all times. In today's society, financial concerns are a growing issue, as the world economy is not positively responsive in many markets. In the United Kingdom, this concern is of no less importance. It is therefore a necessity of those attempting to conduct a business or ensue a customer's creditworthiness.

Skill level:
Moderate

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Things you need

  • Internet
  • Account Information

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Instructions

    Exercise Caution

  1. 1

    Be wary of an account drawn from an institution that does not sound familiar. If initially sceptical, do not allow an individual to pass along any form of tender without first verifying the information. Before establishing your business, attempt to contact financial advisers. Many established businesses are aware of the dangers associated with accepting various forms of payment, and may have advice on how to guard against fraudulent activities.

    How to Validate a Bank Account in the UK
    (chart image by Kit Wai Chan from Fotolia.com)
  2. 2

    Utilise the Internet. If a UK bank account is based on a valid bank, the information will generally be listed online. Also, do not hesitate to utilise a trustworthy validation site.

    How to Validate a Bank Account in the UK
    (www and Internet image by mbs from Fotolia.com)
  3. 3

    Utilise Postcode Anywhere at postcodeanywhere.co.uk (see References), which offers immediate validation of a variety of accounts and web services. Though the service is based in the UK, it serves an international community. The site allows for the immediate download of software and offers demonstrations, and various licensing options.

  4. 4

    Access Bank Wizard Absolute. The service is provided by Experian and is found at experianpayments.com (See References). Visit the site to request a brochure for the service, and obtain a free trial. For those who already utilise Bank Wizard, it only charges when the BWA service is used.

  5. 5

    Consider Albany Software, which is located at www.albany.co.uk (See Rseference), and allows a site visitor to immediately download literature. Albany Software offers three account options, ALBANYverify, ALBANYverify API, and eVERIFY. ALBANYverify allows for the verification of bank accounts and credit card information. ALBANYverify API allows for the same, but allows for validation at the moment the information is entered. Finally, eVERIFY assists in bank charge reduction issues by using two secure validation services.

  6. 6

    Maintain a secure database. Obtaining and receiving financial information from various customers allows for their financial information to be intercepted as well. Though the Internet cannot always provide for secure financial operation, be certain to verify your customers prior to contacting them on a regular basis. The verification sites assist in this end, as it cross-references the mailing address file, and saves a business from unnecessarily contacting a former customer.

    Stay abreast of changing web environments. New viruses and web threats emerge on a daily basis. It is important to be aware of those dangers, as to not only protect your customers but also your system. Preserving the business environment will only serve your business and allow it future growth.

    How to Validate a Bank Account in the UK
    A monitored database provides financial well-being for not only your business, but ensures future security. (deep in database image by .shock from Fotolia.com)

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