Corporate bank account verification: Mainland China

Corporate bank account verification confirms that a Mainland bank account belongs to the company that claims it. The account number, the account name and the company's registration details are checked through UnionPay (银联), and the result states whether they match. It answers one question before a payment or an onboarding: is the account the supplier gave us really the supplier's.

Accounts payable, treasury and payment teams use it before releasing a first payment or changing a supplier's bank details, where a mismatch is the sign of an invoice fraud. Payment firms and banks use it when onboarding a Mainland merchant or corporate customer. It is usually ordered with the company search so that the registered name on the record is the name checked.

It is available through the API only, so that it can run inside a payment or onboarding workflow. Send the company name, the Unified Social Credit Code and the account number and bank, and the verification result comes back in the response. It can be ordered alongside the company search.