99 % spanish accounts
verifiable through the service
93 participating entities
in the service
1 seconds on average
in the verification process
What is Valitic?
Valitic is Iberpay’s digital service that enables the real-time, frictionless verification of Spanish bank account ownership within seconds, 24/7.This sector-wide, high value-added service can be used by banks, payment institutions and e-money providers as well as by companies, individuals and public bodies.
The service automatically verifies the match between the IBAN and the account holder’s tax identification number (CIF, NIF or NIE), ensuring unequivocal accuracy and providing an instant response: OK if there is a match, or KO if there is no correspondence. In addition, the service covers every entity in the Spanish banking system, which means it can confirm who owns any of 88 million payee accounts (99% of all Spanish bank accounts).
Valitic helps to prevent fraud on account-to-account payments and reduce errors on commercial transactions, payments and collections. It also eases the digital onboarding of customers for businesses in any sector and for public authorities. View more use cases
For financial institutions, it means fewer fraudulent or erroneous operations, the elimination of exceptions and manual processes, and a significant improvement in end-to-end payment processes.
Valitic adds value
How does the account ownership verification process work?
Step 1: Initiation request: the customer initiates the request to confirm ownership of an account via their bank.
Step 2:Verification request: the bank passes on the request, including the account details to be checked.
Step 3: Real-time verification: Iberpay handles the request and passes it on to the confirming entity in real time, using its advanced technology for speed and efficiency.
Step 4: Confirmation of ownership: the confirming entity checks the details, confirming the authenticity of the account and sends back an instant response.
Step 5: Reception of results: within an average of one second, the requesting bank receives the verification results, ready for its decisioning process.
Step 6: Application in retail operations and transactions: reassured as to the right owner of the account, customers, companies and public bodies can go ahead with their transactions with peace of mind, minimising fraud risks and ensuring the integrity of their transactions.
Service information system
Users of the account ownership service can use the online information system 24/7 to:
- View all their operations in the account ownership service.
- Call up statistics on their activity
- List the institutions signed up to the service
- Check which institutions are available
- Resolve queries and incidents with the service
How do I join the service?
I am an entity:
Banks, payment institution and e-money providers can sign up to the service provided they have their own IBANs*.
For further details and to start the sign-up process contact Iberpay's team at: negocio@iberpay.com
I am a company or individual:
Individuals, end-user companies and public bodies interested in using Iberpay's account ownership service should consult their trusted banking entity** for details of how to sign up. Some of our partner banks – including BBVA, Kutxabank, Unnax, BCC (Cajamar) and Devengo – already offer this service to their customers..
(*) To participate in our service, you must be an account management entity duly authorized by the Bank od Spain (BdE) or equivalent regulatory bodies.
(**) Companies may access the service through a participating entity provided that the contractual conditions are met. Dissemination of the service to other companies or its incorporation as part of their range of products or services is expressly prohibited.