Secure Your Bank Account Validation Process and Stay GDPR Compliant

Read time: 3 mins

Last updated: 22 April 2025

If your firm collects, stores, or processes client bank account details, you're handling some of the most sensitive data subject to GDPR. Whether you're in legal, accounting, consulting, or property management, the risks are the same - and so are the requirements.

Too many firms still rely on insecure or outdated processes to collect financial data. That leaves them vulnerable to breaches, fines, and lost client trust.

GDPR Makes Secure Handling of Financial Data Non-Negotiable

The General Data Protection Regulation (GDPR) applies to all personal data - including bank details. That means your firm is legally responsible for keeping that data secure from the moment you collect it.

GDPR doesn't just apply to large firms. If you collect client bank account information and you're not securing it properly, you're at risk. Email-based collection, unsecured spreadsheets, and weak access controls no longer meet legal or professional standards.

Real-World Risks of Poor Data Handling

Firms that don’t upgrade their systems face serious exposure:

Data breaches: Unsecured methods like email are frequent entry points for cyberattacks
Non-compliance: GDPR violations can trigger audits, fines, and legal consequences
Reputation damage: A single breach can erode years of client trust

It's not a matter of if these risks will impact you - it's when.

How Secure Automation Solves the Problem

Modern bank account validation tools offer a secure and efficient way to handle sensitive financial information. Here's what they offer:

Encryption at every step: Data is encrypted in transit and at rest, protecting it from interception or theft
Real-time validation: Bank details are instantly checked against trusted databases for accuracy
Client assurance: Demonstrating your commitment to data security builds trust and credibility

Applicable Across Sectors

Given that GDPR applies to all personal data for all sizes of company, bank account validation tools can be used across all sectors.:

Property firms: you need to securely capture and validate bank details for rental payments and deposits
Accounting or payroll provider: you're processing payments on behalf of clients - accuracy and security are essential
Consulting agency: managing international transfers or project-based billing, you can't afford validation errors or data leaks
Financial advisory firm: any breach could violate both GDPR and industry-specific regulations

The compliance stakes are high, no matter your sector.

What to Look for in a Bank Account Validation Tool

Before upgrading, assess your current process. Then look for a tool that includes:

Bank account and sort code validation
GDPR-compliant encryption and data storage
IBAN and international account support
Secure user authentication and access controls
Powerful automation features, like API integrations

Mintly offers all of these in one platform. It's designed to reduce your manual workload and help you stay compliant without extra admin.

Don't Wait for a Breach to Take Action

Too many firms delay security improvements until something goes wrong. That's expensive. It's also avoidable.

Upgrading to secure, automated validation now protects your clients, your team, and your business from unnecessary risk. You'll avoid common errors, reduce back-and-forth with clients, and make compliance much easier to manage.

Want to see how your current process stacks up? Request a free GDPR and security audit today.