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Verification Transfer
A verification transfer is a bank transfer of 1 zloty (or 1 grosz), done by a person wishing to confirm his or her identity online. After the transaction is completed, the funds are returned to the customer's account. By using the account owner’s data obtained from bank transfer, the company requiring identity verification can verify that the data provided. For customers of loan companies or banks, such a solution allows them to apply for financing online, without the need to visit a branch.
The verification transfer works on the basis of a simple interbank transfer (also known as pay-by-link), which is done from a customer’s bank account to the bank account of verification transfer’s provider. The provider then reads the data of the transfer it has received and exposes it to the company, which then uses it to verify identity data. Since the service uses only the data provided in a regular interbank transfer, a verification transfer provides only basic data about the customer and is often an insufficient method of confirming identity according to AML regulations. It should be noted that when performing a verification transfer, the customer will not see the bank account details of the company for which he or she is confirming their identity, but the details of the service provider (or its intermediary).
There are two main providers of the verification transfer service on the Polish market:
As the two services do not differ significantly in terms of functionality offered, the most common reason for choosing a provider is the price of the service, negotiated individually with the provider.
