Overview

SPOT Verified Bank Locator leverages multiple sources to identify bank Routing and Account Numbers associated to a submitted individual to assist with collections and recovery efforts.

Key Features & Functionality

Spot Verified Bank Locator derives data from banking database containing billions of routing and account number transactions reported from credit applications, retail purchases, financial institutions and other commercial sources.

Once a bank account is matched to an individual, additional verification processes are completed to confirm the account is open and currently associated to the individual. Verified information will be categorized into one of the following 3 verification levels within results:

• Level 1:  Verified directly with financial institution as an open account with recent activity and name matched.
• Level 2:  Verified with recent ACH/check activity reported and name matched when available.
• Level 3:  Verified with activity reported within the past 2 years and name matched when available.
• Level 4:  Verified with limited activity reported and name matched when available.

Up to 3 bank accounts may be matched and returned if verified, and each account will have the following information reported in the results:

• Verification Status
• Verification Type
• Verification Date
• Bank Routing Number
• Bank Account Number
• Bank Name
• Bank Address
• Most Recent Name Associated to Account
• Second Most Recent Name Associated to Account

Primary Use Case(s)

SPOT Verified Bank Locator is used by collections and recovery professionals to locate and identify banking information.

*Availability Note:
This is the most current version of SPOT Verified Bank Locator (version 2.0) described above via API and batch processing. 
There is currently has SPOT Verified Bank Locator (version 1.0) accessible, but the updated 2.0 version is still being added
and will be available soon.