Account verification service (avs)
It always helps to know your clients, especially if you provide goods or services before you receive your cash. Understanding and managing your clients is crucial, and is an easily overlooked part of many businesses. This is why we’ve developed the Account Verification Service (AVS).
We offer a Real-time Account Verification Service to participating banks which means you’ll have results in a few seconds.
REDUCE YOUR RISK
AVS allows you the ability to make sure your client has in fact given you the correct details. This is especially useful in situations where you provide your product/service before you collect money from your clients (such as Internet Service Providers, etc.)
AVS is a convenient but necessary security feature to ensure that you also make payments to bank accounts belonging to your Service Providers.
KNOW YOUR CLIENT
As our system connects to all the major South African banks, we can help ensure your clients actually operate the bank accounts that they claim to use. This will give you the peace of mind that if they purchase goods or services from you, you will be able to collect your fees subject to them having the necessary funds in their account.
LOWER YOUR COST
Knowing for sure that your clients’ information is accurate, makes good business sense. AVS will help lower the risk and occurrence of failed debit order collections and will ensure that your cash flow is not jeopardised by incorrect banking details.