This first tier of verification – built on FedNow – fulfills Nacha requirements by determining whether an account is open, valid, and ready to send/receive payments. Unlike traditional microdeposits, we don’t rely on end users, eliminating customer friction. 

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How Verify Status Works

Verify determines within 15 seconds whether an account is open and valid. The API initiates verification utilizing FedNow penny deposits (Orum’s penny) and pulls back the information from the real-time ping. If FedNow is unavailable, the API automatically falls back to Same Day ACH.

When falling back to Same Day ACH, the maximum time it could take to verify an account is T+3 business days.

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Fraud Controls

You will be blocked from making >5 verification requests to the same account within a 24 hour period.

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Verification Statuses

Verification StatusDescription
pendingAcknowledgment of the request being received
validA bank account is open and valid
closedA bank account is closed
invalidThe bank account information provided is invalid
failedThe verification request has failed

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Webhook Example

Verify webhooks are configured using the same Deliver endpoints. For event_types the webhook configuration can either use subscribe_all or specifically use verify_account_updated for verify webhook events.

{
   "event_id": "36fa9e91-b63d-4cc4-9055-eab98198a7ea",
   "event_type": "verify_account_updated",
   "created_at": "2023-06-01T15:00:09.374Z",
   "event_data": {
       "account": {
           "id": "2b610cd7-0366-47a0-94c7-923dc0472bc5",
           "account_number": "12345678910",
           "routing_number": "102001017",
           "account_holder_name": "John Doe",
           "verification_status": "pending",
           "estimated_verification_date": "2023-07-26T00:00:00Z",
           "created_at": "2023-06-01T14:59:46.751044Z",
           "updated_at": "2023-06-01T15:00:05.250318Z"
       }
   }
}