Penny Drop

The Penny Drop Verification API validates customer bank account details by performing a nominal credit transaction and verifying the beneficiary name returned by the bank. This ensures account authenticity before processing payouts, refunds, or policy issuance.

application/json

Request Body required

1SB Penny Drop API request

productCode string required

Product code

insuranceCompanyCode string required

The code to identify for which insurance company this proposal belongs to

customer object required

Customer bank and contact details

accountHolderName string required

Account holder name

email string required

Proposer email ID

mobileNumber string required

Proposer mobile number

accountNumber string required

Bank account number

ifscCode string required

Account IFSC code

trackInfo object required

Proposal and quote tracking details

manuApplicationNo string required

Could be Quote ID or Proposal number

manufacturerQuoteID string required

Manufacturer quote ID

proposalNo string

Proposal number (conditional)

policyNumber string

Policy number (conditional)

distributor object required

Distributor and channel information

distributorID string required

Distributor ID (e.g., BCIBL)

agentID string

Agent ID of the distributor

salesChannel string

Sales channel (Online, etc.)

channelType string required

Possible values: [B2B, B2C]

Business channel type

Responses

• 200
• 400
• 500

---

Successful Response

application/json

Schema

Example (from schema)

---

Schema

reqId string

Unique request identifier

errors object[]
List of errors if request fails
Array [
errorCode string
Error code
errorMessage string
Error message
errorType string
Error type
errorDisplayMessage string
User-friendly error message
]
data object
Penny drop validation response
status string
Response status
message string
Response message
accountHolderName string
Account holder name returned from bank
trackInfo object
Proposal and quote tracking details
manuApplicationNo string
Could be Quote ID or Proposal number
manufacturerQuoteID string
Manufacturer quote ID
proposalNo string
Proposal number (conditional)
policyNumber string
Policy number (conditional)
varFields object[]
Additional response attributes
Array [
fieldName string
Dynamic field name
fieldValue string
Dynamic field value
]

{
  "reqId": "d7fbc496-3634-47b6-ae32-22c4cd6a085f",
  "errors": [
    {
      "errorCode": "string",
      "errorMessage": "string",
      "errorType": "string",
      "errorDisplayMessage": "string"
    }
  ],
  "data": {
    "status": "SUCCESS",
    "message": "Penny drop verification successful",
    "accountHolderName": "MAYANK PATIL",
    "trackInfo": {
      "manuApplicationNo": "",
      "manufacturerQuoteID": "",
      "proposalNo": "",
      "policyNumber": "",
      "varFields": [
        {
          "fieldName": "string",
          "fieldValue": "string"
        }
      ]
    }
  }
}

Consumer Response

application/json

Schema

Example (from schema)

---

Schema

data object

Section to carry quote responses

errors object[] required
This array contains error messages in case of an error
Array [
errorCode string
Possible values: <= 50 characters
In case error occurs, the error code will be stored here
errorDisplayMessage string
Possible values: <= 100 characters
In case error occurs, the error display message will be stored here
errorIdentifier string
Possible values: <= 20 characters
In case error occurs, the error identifier will be stored here
errorMessage string
Possible values: <= 100 characters
In case error occurs, the error message will be stored here
errorType string
Possible values: <= 10 characters
In case error occurs, the error type will be stored here
]
reqId string required

Request Id for the quote assigned by 1SB

{
  "data": {},
  "errors": [
    {
      "errorCode": "string",
      "errorDisplayMessage": "string",
      "errorIdentifier": "string",
      "errorMessage": "string",
      "errorType": "string"
    }
  ],
  "reqId": "string"
}

Consumer Response

application/json

Schema

Example (from schema)

---

Schema

data object

Section to carry quote responses

errors object[] required
This array contains error messages in case of an error
Array [
errorCode string
Possible values: <= 50 characters
In case error occurs, the error code will be stored here
errorDisplayMessage string
Possible values: <= 100 characters
In case error occurs, the error display message will be stored here
errorIdentifier string
Possible values: <= 20 characters
In case error occurs, the error identifier will be stored here
errorMessage string
Possible values: <= 100 characters
In case error occurs, the error message will be stored here
errorType string
Possible values: <= 10 characters
In case error occurs, the error type will be stored here
]
reqId string required

Request Id for the quote assigned by 1SB

{
  "data": {},
  "errors": [
    {
      "errorCode": "string",
      "errorDisplayMessage": "string",
      "errorIdentifier": "string",
      "errorMessage": "string",
      "errorType": "string"
    }
  ],
  "reqId": "string"
}

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