Variable Penny Drop

Introduction

The Variable Penny Drop step of the API is designed for initiating bank account verification. It functions by depositing a nominal amount, ranging from INR 1.00 to INR 1.10, into the beneficiary's bank account. This procedure validates the account's operational status and confirms ownership. Necessary details like account number, IFSC code, and personal information of the beneficiary are required for this transaction. Successful execution of this step provides crucial data, including account status and beneficiary details, along with a unique signzyReferenceId, setting the stage for the subsequent step, "Verify Amount."

API details

Endpoint

POST https://api.signzy.app/api/v3/bankaccountverifications/advancedverification

POST https://api-preproduction.signzy.app/api/v3/bankaccountverifications/advancedverification

Request headers

Name	Value	Required	Description
Content-Type	application/json	Mandatory	The type of content that the request body contains.
Authorization	XXXXXXXXXXXXXXX	Mandatory	An authentication token to authorize the request. Reach out to the Signzy support team to get one created.

Request body parameters

Parameter	Data Type	Description	Required
beneficiaryAccount	String	The account number of the beneficiary.	Mandatory
beneficiaryIFSC	String	The IFSC code of the beneficiary's bank.	Mandatory
beneficiaryMobile	String	The mobile number of the beneficiary.	Optional
nameFuzzy	Boolean	Indicates whether a fuzzy match is performed for a name match. The threshold value for the fuzzy match is 0.7	Optional
beneficiaryName	String	The name of the beneficiary.	Optional
email	String	Email ID of the beneficiary	Optional

{
    "beneficiaryAccount": "00000000000",
    "beneficiaryIFSC": "XXXX0000000",
    "beneficiaryMobile": "0000000000",
    "nameFuzzy": "true",
    "beneficiaryName": "Name",
    "email": "[email protected]"
}

Code samples

curl --location 'https://api-preproduction.signzy.app/api/v3/bankaccountverifications/advancedverification' \
--header 'Authorization: <Your access token>' \
--header 'Content-Type: application/json' \
--data-raw '{
    "beneficiaryAccount": "00000000000",
    "beneficiaryIFSC": "XXXX0000000",
    "beneficiaryMobile": "00000000000",
    "nameFuzzy": "true",
    "beneficiaryName": "Name",
    "email": "[email protected]"
}'

Response body parameters

Parameter	Data Type	Description
result	Object	Contains the result of the task.
result.active	String	Indicates if the bank account is active. Possible values are: yes or no.
result.reason	String	Indicates whether the transaction was successful or not. The possible values are: success, Invalid account number or IFSC provided.
result.nameMatch	String	Contains the result of name match. The possible values are: yes, no.
result.mobileMatch	String	Contains the result of mobile number match.
result.signzyReferenceId	String	Unique reference ID generated by Signzy for the transaction.
result.auditTrail	Object	Contains the Audit trail details.
result.auditTrail.nature	String	Nature of the audit trail.
result.auditTrail.value	String	The value associated with the audit trail.
result.auditTrail.timestamp	String	The timestamp of when the audit trail was recorded.
result.nameMatchScore	Float	A number specifying the name match score in the range 0 to 1.
result.bankTransfer	Object	Contains the bank transfer details.
result.bankTransfer.response	String	A message Indicating the status of the transaction.
result.bankTransfer.bankRRN	String	Bank RRN (Retrieval Reference Number) associated with the transaction.
result.bankTransfer.beneName	String	The beneficiary's name.
result.bankTransfer.beneMMID	String	MMID(Mobile Money Identifier) of the beneficiary.
result.bankTransfer.beneMobile	String	Mobile number of the beneficiary.
result.bankTransfer.beneIFSC	String	IFSC code of the beneficiary's bank.

{
    "result": {
        "active": "yes",
        "reason": "success",
        "nameMatch": "no",
        "mobileMatch": "not available",
        "signzyReferenceId": "9tP3ZgoZ1Ayj9t337nuAk969c7l5sDwKv4iX7wwV4tckZvjAab25",
        "auditTrail": {
            "nature": "BANK RRN",
            "value": "000000000000",
            "timestamp": "2023-12-13T08:56:27.108Z"
        },
        "nameMatchScore": 0,
        "bankTransfer": {
            "response": "Transaction Successful",
            "bankRRN": "000000000000",
            "beneName": "NAME",
            "beneMMID": "",
            "beneMobile": "",
            "beneIFSC": "IFSC0000000"
        }
    }
}

Contact Us for Any Assistance

If you have any questions or need assistance, please reach out to our customer support team. You can contact us via email at [email protected]. We strive to provide prompt and reliable assistance, ensuring your queries are addressed effectively.

We value your feedback and are committed to making your experience smooth and enjoyable. Our team is dedicated to assisting you with any needs you may have. Thank you for choosing our services. We look forward to helping you!