KBC/CBC/KBC Brussels PSD2 API Confirmation of funds Service
Under PSD2, third-party providers must be able to request a Confirmation of Funds from KBC for a specific account with the account holder’s explicit consent. The most common reason for this is to check whether the necessary funds are in an account before a payment initiation.
The Confirmation of Funds API can be used by developers of regulated, licensed third-party providers and financial institutions. It allows KBC to givea Confirmation of Funds to regulated card-based payment instrument issuers.
In certain cases, for example before executing a payment initiation, third-party providers may want to check an account holder’s funds with KBC. The third-party provider can ask KBC whether an account has sufficient funds for a certain transaction, and KBC will respond with a simple yes or no. The end customers have to give their explicit consent before this service can be used.