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Validation of banking details

Hi all,

Would anyone have code to validate the banking account details provided by a respondent? At the end of the survey we ask for bank account and BIC-code for giving them an incentive.

The survey is fielded in US, Australia, Canada and several European countries.

Many thanks!
asked Feb 5, 2018 by andydevos (180 points)
The first step would require you to provide the correct banking detail formats for each country and apply a regular expression of some sort to validate the entry. Regular expressions control what is allowed to be entered in a numeric or text field.

That would be a good start.

There is a few people who are very handy with regular expressions on this forum who could assist if you provide format details.
For the European countries, IBAN is used.
The rules are at the 'Validating the IBAN' section of the following wikipedia page: https://en.wikipedia.org/wiki/International_Bank_Account_Number

An IBAN is validated by converting it into an integer and performing a basic mod-97 operation (as described in ISO 7064) on it. If the IBAN is valid, the remainder equals 1.[Note 1] The algorithm of IBAN validation is as follows:[8]

Check that the total IBAN length is correct as per the country. If not, the IBAN is invalid
Move the four initial characters to the end of the string
Replace each letter in the string with two digits, thereby expanding the string, where A = 10, B = 11, ..., Z = 35
Interpret the string as a decimal integer and compute the remainder of that number on division by 97

In Australia, SWIFT is used, but I don't have the rules yet.

Hi Andy,

I'd be really cautious about gathering banking information for a couple reasons. First, financial data like that  requires special handling to ensure that it stays safe. With the rampant phishing going on these days, I'd worry about ending up on the 6:00 news for even asking about it, let alone if one of your respondents has their account information stolen (whether your fault or not!). With the number of alternative payment methods available, it seems like sending an Amazon certificate or prepaid Visa card might be a better, safer alternative.

Second, I worry about what it might do to overall confidence in marketing research. If it looks like phishing, it might impact all of our ability to get respondents to take our surveys.

Finally, Sawtooth Software's terms of use strongly discourage the collection of sensitive or personally identifiable information with our software systems because we cannot guarantee that our systems are suitable or compliant with the ever-shifting legal requirements around the globe. If you collect banking information, you do so at your own risk. You'd need to be very careful that you are compliant with the laws and regulations in the respondent's country of origin as well as the various countries through which the data will pass during all phases of data collection & analysis.

Best regards,
Hi Aaron, thanks for your comments. I had reflected similar concerns about confidentiality, GDPR regulations  and phishing internally. But that's the way they like to do it now... I will stimulate to seek for another solution for other surveys!

1 Answer

0 votes
Also make sure your survey is being fielded on a server with SSL active. Because it's sensitive, people may not reply unless they see the padlock showing the site is secure.
answered Feb 6, 2018 by Corey1975 Bronze (980 points)