Before the first payment to a new bank account, SiFi verifies the account details. This protects you from fraud, payments sent to the wrong account, and failed transfers.
When you add a payment method, SiFi automatically checks the account details. What gets checked and how long it takes depends on the transfer type:
| Transfer type | What is verified | Speed |
|---|---|---|
| Local IBAN | IBAN format validity, account holder name match with the Saudi bank | Instant |
| SWIFT | SWIFT/BIC code validity, account number format for the selected country | May take longer |
| Internal (SiFi) | SiFi account existence | Instant |
After you add a payment method, you'll see one of these statuses on the payment method card:
| Status | What it means |
|---|---|
| Pending activation | The payment method has been added and is being verified. You cannot send transfers until verification completes. |
| Active | Verified and ready to use for transfers. |
| Failed | Verification failed — typically due to a name mismatch or invalid account details. Update the details and try again. |
💡 Note: For local IBAN and internal (SiFi) payment methods, verification is instant — so they resolve straight to Active or Failed. SWIFT methods may sit at Pending activation status longer, since some checks take more time.
Verification typically fails for one of these reasons:
| Reason | What to do |
|---|---|
| Beneficiary name mismatch | The name you entered doesn't match the bank's records. Ask the partner for their exact legal name as registered with their bank, then update the payment method. |
| Invalid IBAN | The IBAN format is incorrect. Saudi IBANs start with SA and are 24 characters total. |
| Invalid SWIFT/BIC code | The SWIFT code doesn't match a known bank. Double-check with the partner . |
| Account not found | The account number doesn't exist at the specified bank. Verify the details with the partner. |
After correcting the details, save the changes. Verification will re-run automatically. See Editing partner details for how to update.
No, The payment method must be Active (verified) before you can use it. This prevents sending money to incorrect or unverified accounts.
Account verification catches errors before you send money — wrong IBANs, mismatched names, or invalid bank codes. It happens once per account and takes only a moment for local accounts.
See also: Managing beneficiaries & IBANs | All payment methods
Need more help? Contact support@sifi.sa.