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Penny Less API

The Penny Less API is a technology designed to verify bank account ownership without the need for small deposits. This API enables businesses to authenticate bank account details provided by users through alternative verification methods, ensuring accuracy and security in financial transactions without initiating small deposits.

How Does Penny Less API Work?

  • 1.
    Users input their bank account details to initiate the verification process through the Penny Less API.
  • 2.
    The API uses alternative methods (e.g., bank account validation services, transaction history checks) to verify the accuracy of the provided bank account details.
  • 3.
    Users may need to authenticate their identity through secure means, such as multi-factor authentication or knowledge-based questions.
  • 4.
    The API confirms the accuracy of the bank account details based on the verification process results.
  • 5.
    The API presents the verification result, indicating successful confirmation of bank account ownership.
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Streamline Workflows

Streamline Workflows

Eliminate manual reconciliation of data across multiple documents.

Prevent fraudsters.

Prevent fraudsters.

Secure your services by allowing only genuine customers access, thus safeguarding against fraudulent activities.

Trustworthy Verification

Trustworthy Verification

Verify all customer-provided information to onboard legitimate and accurate customers.

Instant Verification

Instant Verification

Optimize your time and effort by integrating the appropriate APIs. Data processing takes just a second, eliminating the need for manual review.

Use Cases Of Penny Less API

Payment Gateway Integration

Subscription Services

Financial Transactions

Direct Debit Setup

Account Verification

Frequently Asked Questions

Penny Less API is a technology that verifies bank account ownership without the need for small deposits.

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