Some customers require bank account verification when setting up payment methods for new account or updating an existing account payment method.
Here are the various verification options Resolve supports:
1. The Penny Test:
A customer sends a small deposit to Resolve. We can then confirm with the customer that we received the deposit and the amount received, ensuring that our bank details are valid and correct on the customer's end.
2. Bank Verification System:
Some customers choose to use a bank account verification system to confirm the validity of a new account. The VRN (Virtual Reference Number) bank account number publicly presented by Resolve will not result in a positive confirmation. VRN is a virtual sub-account belonging solely to your merchant assisting us in allocating your payments faster, as sub-accounts are not visible on verification systems (only primary bank accounts are) this type of verification will not work. We encourage you to use the penny test as an alternative verification process.
We understand that some companies have strict internal policies requiring them to stick to a specific method. If bank verification system is the only method used, please reach out to help@resolvepay.com, and we will be able to supply an alternative bank account for you to use.
For any questions or concerns regarding bank verification, or if you do not see your method of bank verification in this list, please reach out to help@resolvepay.com for further assistance.
Comments
0 comments
Article is closed for comments.