Ask HN: Bank Account Validation Using Real-Time Payments (RTP)?

(Disclosure: I’m at Increase (https://increase.com). I’m suggesting you use us to build something I want.)

There should be a tool to validate US bank account numbers using the Real-Time Payments (RTP) network.

To verify US account control today you have two options:

- Use a platform like Plaid or Finicity, where an account holder provides their bank login details and the platform ~synchronously scrapes the bank’s website.

- Send the account holder micro-deposits (typically via ACH, which takes a day or two) and have them confirm the amounts.

There are additionally concepts like submitting an image of a voided check or using confirmation notes.

We should have a service that validates US bank account details using RTP. It can be synchronous and it wouldn’t involve providing a username and password.

This maybe hasn’t happened already because RTP is a relatively new network (but covers ~61% of US depository accounts[0]) and hasn’t had great APIs. We’ve recently built an integration, so we can help with the API piece.

If you’re interested, I’d love to chat! I’m at darragh@increase.com.

Alternatively, we keep a waitlist here: https://increase.com/

(Known bug that we don’t have open sign-ups; we’re furiously working on it.)

0. https://www.theclearinghouse.org/payment-systems/rtp/institution