Open new accounts with confidence using NYCE’s Account Authentication service.
If you’d like to instantly verify account ownership during the new account opening process or for other registration services, then consider NYCE’s Account Authentication service.
Here’s how it works:
- Consumers initiate new account applications with your financial institution either in your branch office or on-line.
- Your financial institution sends PINless credit(s) or debit(s) in small amounts (e.g., less than $1) via NYCE to the consumer’s existing account via their NYCE debit card.
- The consumer verifies the number and amount of the credit(s) or debit(s) for you and thus validates that he or she has access to that account.
- You complete the new account application using this as one of your tools for account authentication and ownership.
Benefits of Account Authentication
- Immediately authenticate account ownership.
- Improve your new account opening closure rate.
- Tailor the use of PINless credits and debits to meet your needs. Use single or multiple credits, combine credits with debits, or add a transaction sequence number for increased authentication assurance. Reclaim any credits at your option using the PINless debit transaction.
- Account Authentication utilizes On-Demand (PINless) transactions already available to all NYCE financial institutions so no certification is required. Visit On-Demand for more ways to benefit from NYCE PINless transaction services.
Contact Us for more information on Account Authentication