Verifying a payment method

Verifying a payment method

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.

How verification works

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 typeWhat is verifiedSpeed
Local IBANIBAN format validity, account holder name match with the Saudi bankInstant
SWIFTSWIFT/BIC code validity, account number format for the selected countryMay take longer
Internal (SiFi)SiFi account existenceInstant

Payment method statuses

After you add a payment method, you'll see one of these statuses on the payment method card:

StatusWhat it means
Pending activationThe payment method has been added and is being verified. You cannot send transfers until verification completes.
ActiveVerified and ready to use for transfers.
FailedVerification 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.

If verification fails

Verification typically fails for one of these reasons:

ReasonWhat to do
Beneficiary name mismatchThe 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 IBANThe IBAN format is incorrect. Saudi IBANs start with SA and are 24 characters total.
Invalid SWIFT/BIC codeThe SWIFT code doesn't match a known bank. Double-check with the partner .
Account not foundThe 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.

Can I send a transfer while verification is pending?

No. The payment method must be Active (verified) before you can use it. This prevents sending money to incorrect or unverified accounts.

Why verification matters

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.

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