Frequently Asked Questions

What does FundsV do?

FundsV is an agnostic, scalable and universal tool that empowers students and their financial sponsors to authenticate their digital banking data. By serving as a conduit for genuine bank-generated data, we improve the efficiency and integrity of the due diligence phase in the international student admissions journey.

Our robust platform integrates with a deep network of highly-regulated financial institutions, using industry-leading data security measures. As such, we can embed the FundsV functionality within originating CRMs (Customer Relationship Management platforms) to minimize duplicate data entry.

  1. FV clients replace requests to upload easily-manipulated paper-based bank statements
  2. Bank account holders grant one-time permission to authenticate their bank data
  3. FV accumulates ending balances, and presents the counselors with verified data to review

What specific geographic regions and verticals does FundsV cover?

FundsV originally launched with India as our initial source country. In early 2025, we expanded our coverage globally to include Nigeria, Pakistan, Ghana, Nepal, China, Bangladesh, Korea, Brazil, Taiwan, Colombia, Vietnam, Mexico, Saudi Arabia, Japan, United Kingdom... approximately 200 countries in all. We continue to amplify our network, so schedule a call for the latest details, and follow us on LinkedIn for updates.

The FundsV functionality can be applied in a number of different verticals that require proof-of-funding, including but not limited to global real estate transactions and a variety of visa categories worldwide.

What does FundsV validate?

FV validates financial data from tens of thousands of banks across approximately 200 countries around the world. In every instance, the account holder must grant permission to review a one-time snapshot of their data. Thanks to advanced Artificial Intelligence / Machine Learning technology, FundsV can usually authenticate online banking data within minutes.

What is an "originating CRM or platform"?

The originating platform is FV's client, with whom FundsV has a business relationship to help their users verify financial capacity.

How do I register with FundsV?

  • Entities (namely advising centers, counseling agencies, educational institutions, government authorities...) may schedule a call to discuss.
  • Individual users must register through the originating platform.

Please provide a list of financial institutions within the FV network.

We continue to expand our coverage, so please reach out to our Support Team with specific requests. Individual users may also access the list from within the originating platform for the very latest directory.

How do you protect my data?

In summary: We collect as little information as necessary. That way, we help users comply with host country requirements while reducing exposure to threats.

The originating platform provides us with only a unique identifying code specific to each user, so FundsV minimizes the amount of data stored within our system. For example, if you need to change your eMail address, please do so at the originating platform, as FundsV will have no record of it.

All data is encrypted in our database; we only decrypt it immediately before displaying in the browser (which explains the delay of a few seconds). Specifically, that data includes the name of the bank, the name on the account, the type of account (savings, checking...), and the last few digits of the account number.

We do not store user names or passwords, so if you'd like to refresh your financial data, you'll need to re-enter those credentials through the originating platform.

We purge all data 180 days after account holders grant permission for us to fetch it the first time.

Our full-length Privacy Policy is accessible at FundsValidator.com/privacy, and you'll find our Terms and Conditions at FundsValidator.com/terms.

What can I do if I disagree with FundsV's assessment of my financial data?

We assess the data provided against the financial institution’s current format. In the case of a dispute, the user should contact the originating platform directly to discuss any anomalies.

Uploading bank statements

What kind of data does FundsV verify?

FV reviews bank-generated data (namely digital PDF statements) that were recently retrieved from online banking portals. Our algorithms analyze the digital PDFs against huge volumes of training data to detect anomolies in the format. We then share the results with the originating platform, which maintains full authority to act on them as they deem appropriate.

What types of verifications fall outside of your scope?

Paper-based data falls outside of our scope; we deal only with digital data that has not been altered. For example, we do not recognize proof-of-funding letters with signatures, stamps or other modifications (i.e., letters of disbursement, sanction letters...). We propose two ways to remedy the scenario:

  1. Retrieve authentic bank-generated statements for the account in question, and upload them accordingly.
  2. Discuss the issue with the originating platform / authority who requested your financial documents; they can suggest alternatives to proving financial capacity as part of your application process.

Using internet banking credentials

Why am I being asked to provide my credentials? Is it secure?

You may choose to enter your internet banking credentials, as an alternative to uploading an original, digital bank statement PDF. You are not obligated or compelled to provide your credentials, or the credentials of your financial sponsor.

As per regulatory guidelines in most host countries, bank account verification is important to satisfy the proof-of-funding / financial capacity requirement of many host countries as part of your international student application. Your online banking credentials will not be stored, and the data-gathering process is secured with multi-layered hardware and software encryption.

Further questions about specific regulatory guidelines may be directed toward the originating platform / authority who requested your financial documents.

I cannot remember my user ID / password. How can I recover / re-set my credentials?

Please visit your financial institution's website where you can retrieve your user name and password. Then return to the originating platform to enter the same credentials for your account verification.

I do not use internet banking. Can I complete my application without it?

Yes. Please contact the originating platform / authority who requested your financial documents; they can suggest alternatives for proving financial capacity as part of your application process.

I am not able to find my bank’s name while searching the drop-down menu. What should I do?

Please be sure to search for the bank's home country first, then select the bank:

Search for your bank's home country first, then select the bank.

Alternatively, please contact the originating platform / authority who requested your financial documents; they can suggest other ways to prove financial capacity as part of your application process.

When I try to login, I am required to enter new details such as Captcha or a One-Time-Password or answer a security question. Is this secure? Shall I proceed?

The FundsV system mirrors the security measures of each financial institution within our deep network. Understandably, those measures change periodically. If your bank requires additional security measures at that time (just as they would if you were logging directly in to your bank), then you can rest assured with a similar process. You may also contact your bank directly to inquire about their most recent security measures.

Where can I review your policies?

Funds Validator