You can verify the bank account details of your customers before adding them to your payouts account using the Bank Account Verification feature. The customer bank details are verified instantly. This minimises the failed or transfer reversals from the bank. To verify the customer bank details you need their name, phone number, bank account number and the IFSC.
To verify the customer bank details,
Go to Payouts Dashboard > Bank Account Verification > Verify.
Enter the bank account details and click Submit to verify the customer bank details. If the account details entered are valid you will see the name registered with the bank and the account number.
If the customer name contains more than 20 characters, only the first 20 characters will be displayed for verification.
Currently, Canara Bank and Syndicate Bank display the name as unregistered. In such cases, Cashfree can validate if the account exists or not.
You can view the verified bank account details of the customer in the Bank Verification Report.
To view the verified details,
Go to the Payouts Dashboard > Bank Account Verification > Report.
In the Bank Verification Report screen, specify the date for which you want to see the details, and click Download, to download and view the details.