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PNC Account Verification Services
Help Expedite Payments Without Accelerating Fraud
Real-time access that helps you confirm identity and bank account details before making a payment
Account Verification Services
AVS API
What is PNC Account Verification Services?
PNC Account Verification Services can help confirm the existence and identity of your counterparties, empowering your organization to make payments with confidence and avoid financial loss. Our services provide organizations timely information about the identity, bank account and digital footprint of the individuals and businesses your organization interacts with.
Bank Account Verification
Helps confirm the existence of a U.S. bank account, its status, standing, maturity, ownership or signatory authority and other key data points prior to initiating a payment involving that account
Identity Verification
Helps confirm the existence and identity of individuals and businesses,
as well as details regarding their digital and social media footprint, prior
to onboarding them as payment counterparties
Benefits of PNC Account Verification Services
PNC Account Verification Services offer flexible tools that can help you onboard and transact with counterparties with greater confidence.
- Detect and avert potential imposter fraud schemes and scams aimed at diverting legitimate payments to a criminal
- Improve supplier and customer onboarding experiences by confirming the entity’s identity and account information within the enrollment process
- Optimize the efficiency of payment operations while minimizing returned transactions and associated time, fees and administrative costs
- Enhance and streamline due diligence by increasing the enrollment of qualified entities by reducing false positives and risk
- Safeguard your reputation as a trusted payer by maintaining or improving your organization’s operational efficiency and
“risk hygiene”
The Stark Reality of Social Engineering Fraud Threats
Over the last few years, social engineering scams have exponentially grown to the level of a financial epidemic.
Learn more about Cybersecurity
Criminal are constantly looking for and finding ways to exploit business’ weaknesses through the use of Email Imposter Fraud and Account Takeover Fraud, waiting for someone to take the bait – don’t let it be you or someone in your organization.
Download the Cybersecurity Resource Guide »
Help Overcome Common Payment Challenges
Over the last few years, imposter fraud schemes such as social engineering and identity theft, and related scams like Email Compromise and Account Takeover have exponentially grown to the level of a financial epidemic.
Email Imposter Fraud scams resulted in nearly $2.7B in financial loss in 2022[2] – a number that has grown steadily over the last few years and remains elevated.
With PNC Account Verification Services, you can help your organization overcome these common challenges when making payments:
Payment Integrity
Transact the correct payment with the right counterparty the first time
Improper Payments
A payment that should not have been made, was made in an incorrect amount,
or was made to an unintended recipient
Imposter Fraud
Criminal poses as a trusted source to convince its target to take action
or make payment
FAQs - What do you Want to Know about PNC Account Verification Services?
How can I submit verification inquiries?
PNC Account Verification Services can integrate directly into your systems, via API or file transfer services, or can be accessed via PINACLE®, PNC’s corporate online and mobile banking platform.
Please visit PNC’s Developer Portal for more information regarding APIs.
What are the sources used to power PNC Account Verification Services?
PNC Account Verification Services uses information contained in a wide array of sources that include—but are not limited to—bank consortium data, credit bureau information, death records, law enforcement and public records.
What types of information will I receive when using this service?
In response to each verification inquiry, you will receive standard and repeatable responses that speak to the degree to which the information you have submitted matches that on record for the inquired entity and/or the bank account you believe them to own or control, as well as additional details—if available—to help support those responses and allow you to make informed decisions regarding your intended domestic payment counterparties.
Does this service address the Nacha WEB Debit Rule?
Yes, PNC Account Verification Services is considered a commercially reasonable fraudulent transaction detection system that can help your organization adhere with the Nacha rule requiring entities that facilitate Internet-initiated ACH Debit Entries (Standard Entry Class Code: WEB) to screen such payments for potential fraud.
How is this service typically used?
Organizations that have adopted PNC Account Verification Services use the solution to help enhance their entity onboarding and payment due diligence processes. This includes confirming the identity of intended domestic payment counterparties—including, but not limited to, vendors, customers and employees—and the bank accounts that they are believed to own or control both upfront and on an ongoing basis, based on requested changes to standing payment instructions and other factors or events.
What companies can benefit from PNC Account Verification Services?
To the extent that every payment made carries the inherent risk that it will not settle as intended, virtually every U.S. organization stands to benefit by using PNC Account Verification Services to help reduce the risk of improper domestic payments.
Contact Us
For product and service related questions, please contact your Treasury Management Officer or
Treasury Management Client Care (TMCC) at 1-800-669-1518.
If you have questions or would like additional information, please fill out this short form so we can get in touch with you. By completing this form, you are authorizing us to contact you (via
email and/or phone) to answer your questions and provide information
about Account Verification Services.
PNC Treasury Management serves companies with over $5 million in annual revenue.
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Important Legal Disclosures & Information
Sources:
1 Source: Source: Association for Financial Professionals; 2023 Payments Fraud and Control Survey
2 Source: 2022 Internet Crime Report (FBI Internet Crime Complaint Center)
Read a summary of privacy rights for California residents which outlines the types of information we collect, and how and why we use that information.
