About Bank Account Verification

2 min.

The bank account verification feature helps you increase the security of your payment processes. You can monitor the verification status of bank accounts and track the updates made to account details, such as changes in bank account number, IBAN, and SWIFT. This helps you identify any suspicious activities or discrepancies in the account and lets you take necessary actions to ensure the safety and security of your business.

For example, if you are about to send a payment to an account where the payment details have been changed, you’ll be warned in a notification so you can take the necessary precautions and properly verify the account before you send off the payment.

Note

You can use bank account verification in combination with payment approval workflows, in which case the validity of the related bank account must be verified before you can send the payment for approval.

Watch this video for a quick overview of the benefits of the Bank Account Verification feature.

Important

If you are using the on-premises version of Dynamics 365 Business Central and want to work with the bank account verification, version 18 or later is required.