Manual Bank Verification
WHAT IT IS
Manual Bank Verification (MBV) helps confirm banking information before initiating an ACH debit or when a lender is trying to determine the credit limit for an individual.
WHAT IT DOES
Manual Bank Verification uses proprietary data from a vast network of financial institutions, small and community banks and credit unions. When requested, manual calls are added to provide the highest available level of verification of funds.
MBV offers unlimited validation attempts without harming the consumer’s credit and is available at two levels of verification.
Basic verification is available for batch processing or via a flexible API and does not require consumer authorization of participation with the bank. Data is usually returned within 24 hours of submission. Often sooner. Basic verification returns the following information:
MBV Advantage evaluates the same data as MBV and then adds a direct, 3-way call between consumer, their financial institution and an MBV representative. Advantage verification returns the following information:
WHAT IT IS USED FOR
Manual Bank Verification is a powerful tool for short-term and installment lenders, casinos and other entities looking to establish a line of credit or loan. Specifically, MBV can be used to:
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