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Penny Drop verification – what is it and what does it mean for You?

In this article learn what is Penny Drop and how does it work

Written by Marius Wickie Support
Updated over a month ago

What Is Penny Drop?

Penny Drop is a modern, document-free method for verifying your bank account ownership. A small payment (typically 0.10 EUR) is initiated from your bank account and automatically refunded shortly after. The process confirms in real time that the account is registered in your name.


Supported jurisdictions

The Penny Drop verification solution is supported by the banks of the following jurisdictions:


List of banks supported for the Penny Drop procedure

Austria

bank99
BAWAG
BKS Bank
BTV
EasyBank
Erste and Sparkasse
ING
N26
Oberbank
Raiffeisenbank
Revolut
UniCredit Bank Austria
UniCredit Bank Austria
Volksbank Niederösterreich
Volksbank Oberösterreich
Volksbank Salzburg
Volksbank Steiermark
Volksbank Tirol
Volksbank Vorarlberg
Volksbank Wien

Belgium

ABN AMRO
Argenta
AXA
Banx
Belfius Bank
Beobank
BNP Paribas Fortis
CBC Bank
Crelan
Fintro - BNP Paribas
Hello Bank! - BNP Paribas
ING
KBC Bank
KBC Brussels Bank
Keytrade Bank
N26
Revolut

Brazil

Pix

Bulgaria

ING Bank
Raiffeisenbank
Revolut
UniCredit Bulbank

Croatia

OTP Banka
Revolut
Zagrebačka banka

Cyprus

Hellenic Bank
Revolut

Czechia

Revolut

Denmark

N26
Revolut

Estonia

AS TBB Pank
Citadele Banka
Coop Pank
LHV Pank
Luminor Bank
N26
Revolut
SEB Pank
Swedbank

Finland

Alandsbanken
Danske Bank
N26
Nordea Bank
OmaSp
OP Corporate Bank
POP Pankki
Revolut
Säästöpankki
S-Pankki

France

AXA Banque
Banque BCP
Banque Chalus
Banque de Savoie
Banque Populaire Alsace Lorraine Champagne
Banque Populaire Aquitaine Centre Atlantique
Banque Populaire Auvergne Rhône Alpes
Banque Populaire Bourgogne Franche-Comté
Banque Populaire du Nord
Banque Populaire Méditerranée
Banque Populaire Occitane
Banque Populaire Val de France
BNP Paribas
BNP Paribas Enterprise
BoursoBank
Bunq
Caisse d'Epargne Aquitaine Poitou-Charentes
Caisse d'Epargne Auvergne Limousin
Caisse d'Epargne Bourgogne Franche-Comté
Caisse d'Epargne Bretagne Pays de Loire
Caisse d'Epargne Côte d'Azur
Caisse d'Epargne Grand Est Europe
Caisse d'Epargne Île-de-France
Caisse d'Epargne Languedoc-Roussillon
Caisse d'Epargne Loire Drôme Ardèche
Caisse d'Epargne Loire-Centre
Caisse d'Epargne Midi Pyrénées
Caisse d'Epargne Normandie
Caisse d'Epargne Provence Alpes Corse
Caisse d'Epargne Rhône Alpes
CIC Banques
Crédit Agricole Alpes Provence
Crédit Agricole Alsace Vosges
Crédit Agricole Aquitaine
Crédit Agricole Brie Picardie
Crédit Agricole Centre France
Crédit Agricole Centre Ouest
Crédit Agricole Centre-Est
Crédit Agricole Champagne-Bourgogne
Crédit Agricole Charente Périgord
Crédit Agricole Charente-Maritime Deux-Sèvres
Crédit Agricole Côtes d'Armor
Crédit Agricole de la Touraine et du Poitou
Crédit Agricole de l'Anjou et du Maine
Crédit Agricole de Lorraine
Crédit Agricole de Provence Côtes d'Azur
Crédit Agricole d'Ile de France
Crédit Agricole du Finistère
Crédit Agricole du Nord Est
Crédit Agricole Languedoc
Crédit Agricole l'Ille et Vilaine
Crédit Agricole Nord de France
Crédit Agricole Nord Midi-Pyrénées
Crédit Agricole Sud Rhône Alpes
Crédit Agricole Toulouse 31
Crédit Coopératif
Crédit Mutuel
Hello Bank!
ING
La Banque Postale
La Banque Postale - Corporate
N26
Revolut
Société Générale


Germany

ABN AMRO Bank
BBBank
Berliner Sparkasse
Berliner Volksbank
Bordesholmer Sparkasse
Bunq
Comdirect bank
Commerzbank
Consorsbank by BNP Paribas
Deutsche Bank
Deutsche Kreditbank
Förde Sparkasse
Frankfurter Sparkasse
Hamburger Sparkasse
Hannoversche Volksbank
Harzsparkasse
Herner Sparkasse
ING
Kreis- und Stadtsparkasse Kaufbeuren
Kreis- und Stadtsparkasse Wasserburg am Inn
Kreissparkasse Böblingen
Kreissparkasse Limburg
Kreissparkasse Ravensburg
Kreissparkasse St. Wendel
Landessparkasse zu Oldenburg
levoBank
Mittelbrandenburgische Sparkasse
N26
Nassauische Sparkasse
Niederrheinische Sparkasse RheinLippe
Nord-Ostsee Sparkasse
Norisbank
Ostsächsische Sparkasse Dresden
OstseeSparkasse Rostock
Postbank
Revolut
Rhön-Rennsteig-Sparkasse
Saalesparkasse
Salzlandsparkasse
Santander Consumer Bank
Sparda-Bank Baden-Württemberg
Sparda-Bank Hannover
Sparkasse Aachen
Sparkasse Aichach-Schrobenhausen
Sparkasse Allgäu
Sparkasse Altenburger Land
Sparkasse Altmark West
Sparkasse Altötting-Mühldorf
Sparkasse Am Niederrhein
Sparkasse Amberg-Sulzbach
Sparkasse an der Lippe
Sparkasse Ansbach
Sparkasse Aschaffenburg-Alzenau
Sparkasse Aurich-Norden
Sparkasse Bad Hersfeld-Rotenburg
Sparkasse Bad Kissingen
Sparkasse Bad Neustadt
Sparkasse Bad Oeynhausen - Porta Westfalica
Sparkasse Baden-Baden Gaggenau
Sparkasse Bamberg
Sparkasse Barnim
Sparkasse Bensheim
Sparkasse Bielefeld
Sparkasse Bodensee
Sparkasse Bottrop
Sparkasse Bremen
Sparkasse Burgenlandkreis
Sparkasse Celle-Gifhorn-Wolfsburg
Sparkasse Celle-Gifhorn-Wolfsburg
Sparkasse Chemnitz
Sparkasse Coburg - Lichtenfels
Sparkasse Dachau
Sparkasse Darmstadt
Sparkasse der Stadt Iserlohn
Sparkasse Dieburg
Sparkasse Dillenburg
Sparkasse Dillingen-Nördlingen
Sparkasse Dortmund
Sparkasse Duderstadt
Sparkasse Duisburg
Sparkasse Düren
Sparkasse Einbeck
Sparkasse Elmshorn
Sparkasse Emden
Sparkasse Emsland
Sparkasse Erding
Sparkasse Essen
Sparkasse Forchheim
Sparkasse Freiburg-Nördlicher Breisgau
Sparkasse Freising Moosburg
Sparkasse Fulda
Sparkasse Gelsenkirchen
Sparkasse Gera-Greiz
Sparkasse Gladbeck
Sparkasse Grünberg
Sparkasse Gummersbach-Bergneustadt
Sparkasse Günzburg-Krumbach
Sparkasse Gütersloh-Rietberg-Versmold
Sparkasse Hameln-Weserbergland
Sparkasse Hamm
Sparkasse Hanau
Sparkasse Hannover
Sparkasse Harburg-Buxtehude
Sparkasse Hattingen
Sparkasse Hegau-Bodensee
Sparkasse Heidelberg
Sparkasse Herford
Sparkasse Hilden-Ratingen-Velbert
Sparkasse Hildesheim Goslar Peine
Sparkasse Hochfranken
Sparkasse Hochrhein
Sparkasse Hochsauerland
Sparkasse Hochschwarzwald
Sparkasse Hohenlohekreis
Sparkasse Holstein
Sparkasse im Landkreis Cham
Sparkasse Ingolstadt Eichstätt
Sparkasse Jena-Saale-Holzland
Sparkasse Karlsruhe
Sparkasse Kinzigtal
Sparkasse KölnBonn
Sparkasse Kraichgau Bruchsal-Bretten-Sinsheim
Sparkasse Krefeld
Sparkasse Kulmbach-Kronach
Sparkasse Landsberg-Dießen
Sparkasse Landshut
Sparkasse Langen-Seligenstadt
Sparkasse LeerWittmund
Sparkasse Leipzig
Sparkasse Lemgo
Sparkasse Leverkusen
Sparkasse Lippstadt
Sparkasse Luedenscheid
Sparkasse Lüneburg
Sparkasse Mainfranken Würzburg
Sparkasse Mansfeld-Südharz
Sparkasse Marburg-Biedenkopf
Sparkasse Markgräflerland
Sparkasse Märkisches Sauerland Hemer
Sparkasse Märkisch-Oderland
Sparkasse Mecklenburg-Nordwest
Sparkasse Meißen
Sparkasse Memmingen-Lindau-Mindelheim
Sparkasse Merzig-Wadern
Sparkasse Miltenberg-Obernburg
Sparkasse Minden-Lübbecke
Sparkasse Mittelfranken-Süd
Sparkasse Mittelholstein
Sparkasse Mittelmosel Eifel Mosel Hunsrück
Sparkasse Mittelsachsen
Sparkasse Mittelthüringen
Sparkasse Mitten Im Sauerland
Sparkasse Muldental
Sparkasse Mülheim an der Ruhr
Sparkasse Münsterland Ost
Sparkasse Neckartal-Odenwald
Sparkasse Neubrandenburg-Demmin
Sparkasse Neuburg-Rain
Sparkasse Neumarkt-Parsberg
Sparkasse Neunkirchen/Saar
Sparkasse Neuss
Sparkasse Neuwied
Sparkasse Nürnberg
Sparkasse Oberhessen
Sparkasse Oberland
Sparkasse Oberlausitz-Niederschlesien
Sparkasse Oberpfalz Nord
Sparkasse Odenwaldkreis
Sparkasse Oder-Spree
Sparkasse Offenburg/Ortenau
Sparkasse Olpe-Drolshagen-Wenden
Sparkasse Osnabrück
Sparkasse Osterode am Harz
Sparkasse Ostprignitz-Ruppin
Sparkasse Paderborn-Detmold-Höxter
Sparkasse Paderborn-Detmold-Höxter
Sparkasse Passau
Sparkasse Pforzheim Calw
Sparkasse Pfullendorf-Meßkirch
Sparkasse Rastatt-Gernsbach
Sparkasse Regensburg
Sparkasse Regen-Viechtach
Sparkasse Rhein Neckar Nord
Sparkasse Rhein-Haardt
Sparkasse Rheinhessen
Sparkasse Rhein-Maas
Sparkasse Rhein-Maas
Sparkasse Rhein-Nahe
Sparkasse Rosenheim-Bad Aibling
Sparkasse Rotenburg Osterholz
Sparkasse Rottal-Inn
Sparkasse Saarbrücken
Sparkasse Schaumburg
Sparkasse Schwäbisch Hall-Crailsheim
Sparkasse Schweinfurt-Haßberge
Sparkasse Siegen
Sparkasse Soest
Sparkasse Spree-Neiße
Sparkasse Stade-Altes Land
Sparkasse Starkenburg
Sparkasse Staufen-Breisach
Sparkasse Südholstein
Sparkasse Südpfalz
Sparkasse Südwestpfalz
Sparkasse Tauberfranken
Sparkasse Trier
Sparkasse Uckermark
Sparkasse Uecker-Randow
Sparkasse Ulm
Sparkasse Vest Recklinghausen
Sparkasse Vogtland
Sparkasse Vorderpfalz
Sparkasse Vorpommern
Sparkasse Waldeck-Frankenberg
Sparkasse Werra-Meißner
Sparkasse Weser-Elbe
Sparkasse Westerwald-Sieg
Sparkasse Westholstein
Sparkasse Westmünsterland
Sparkasse Wiesental
Sparkasse Wittenberg
Sparkasse Wittgenstein
Sparkasse Zollernalb
Sparkasse zu Lübeck
Sparkasse Zwickau
Stadt- und Kreissparkasse Erlangen Höchstadt Herzogenaurach
Stadt- und Kreissparkasse Moosburg
Stadtsparkasse Augsburg
Stadtsparkasse Bocholt
Stadtsparkasse Düsseldorf
Stadt-Sparkasse Langenfeld
Stadtsparkasse Mönchengladbach
Stadtsparkasse München
Stadtsparkasse Oberhausen
Stadtsparkasse Schwalmstadt
Stadt-Sparkasse Solingen
Stadtsparkasse Versmold
Stadtsparkasse Wuppertal
Taunus-Sparkasse
UniCredit (HypoVereinsbank)
VerbundSparkasse Emsdetten-Ochtrup
Volksbank Delbrück-Rietberg eG
Wartburg-Sparkasse
Wartburg-Sparkasse
Wise

Greece

Eurobank
N26
National Bank of Greece
Piraeus Bank
Revolut

Hungary

CIB Bank
Erste Bank
ING Bank
K&H Bank
MKB
MKB Bank
OTP Bank
Raiffeisen Bank
Revolut
Takarékbank
UniCredit Bank
Wise

Iceland

N26
Revolut

Ireland

AIB
An Post
An Post Money Credit Card
Avant Money
Bank of Ireland
Bunq
ING
N26
Permanent TSB
Revolut
SumUp
Ulster Bank Ireland
Wise

Italy

Banca della Marca
Banca delle Terre Venete
Banca Mediolanum
Banca Monte dei Paschi
Banca TEMA
Banco BPM
BancoPosta
BCC Adriatico Teramano
BCC Agrigentino
BCC Banca del Piceno
BCC Banca Versilia Lunigiana e Garfagnana
BCC Bari
BCC Busto Garolfo e Buguggiate
BCC Canosa Loconia
BCC Capaccio Paestum e Serino
BCC di Castiglione Messer Raimondo e Pianella
BCC di Verona e Vicenza
BCC Gaudiano di Lavello
BCC Leverano
BCC Longi - Valle del Fitalia
BCC Mediocrati
BCC Milano
BCC Pachino
BCC Pergola e Corinaldo
BCC Pescia Cascina
BCC Pordenonese e Monsile
BCC Pratola Peligna
BCC Recanati e Colmurano
BCC Ripatransone e Fermano
BNL (Banca Nazionale del Lavoro)
BPER Banca
Cassa Rurale BCC Treviglio
FinecoBank
Hello Bank
ING
Intesa Sanpaolo
N26
PostePay
Revolut
UniCredit
UniCredit

Latvia

Citadele Banka
Luminor
N26
Revolut
SEB Banka
Swedbank

Lithuania

Artea
Citadele Banka
Luminor
N26
Revolut
SEB
Swedbank

Luxembourg

Banque Internationale à Luxembourg
Banque Raiffeisen
BGL BNP PARIBAS
ING
ING Luxembourg
N26
Revolut
Societe Generale
Spuerkeess

Malta

Revolut

Netherlands

ABN AMRO
ASN bank
Bunq
ING Bank
Knab
N26
Rabobank
RegioBank
Revolut
SNS Bank
Triodos Bank
Wise

Norway

Revolut

Poland

Alior Bank
Bank Millennium
Bank Pekao
BNP Paribas - GOonline
BNP Paribas Bank
BOŚ - Bank
ING Bank
Inteligo
mBank
N26
PKO
PKO Bank
Revolut
Santander Bank Polska
Santander Consumer Bank
VeloBank
Wise

Portugal

ActivoBank
Banco BPI
Banco CTT
Banco Montepio
Caixa Geral de Depósitos
Crédito Agrícola
EuroBic
Millennium BCP
N26
Novo Banco Dos Açores
Novobanco
Revolut
Santander Totta
Wise

Romania

Alpha Bank
Banca Comercială Română
Banca Transilvania
BRD
ING Romania
Raiffeisen Bank S.A.
Revolut
UniCredit Bank
Wise

Slovakia

CSOB
ING
N26
Raiffeisenbank
Revolut
Slovenska Sporitelna
Tatra Banka
Unicredit
Vseobecna Uverova Banka A.S. SK

Slovenia

Banka Intesa Sanpaolo
BKS Bank
N26
NLB
Revolut
UniCredit Bank

Spain

Banco de Sabadell
Banco Santander
Bankinter
BBVA
CaixaBank
Caja Rural de Extremadura
Evo Banco
Ibercaja Banco
ING Spain
Kutxabank
N26
OpenBank
Revolut
Wise

Sweden

N26
Revolut

If your bank is not listed, you may submit a request to us to support@wickie.io, and we will review it and initiate the process of adding it where possible.


How does the process work?

  1. Select your country and bank – Choose your country and bank from the list of supported financial institutions.

  2. Log in – Sign in via your usual online banking using Strong Customer Authentication (SCA).

  3. Confirm the payment – Authorize a nominal transfer of typically 0.10 EUR.

  4. Real-time check – The system retrieves your account data and verifies that it matches your identity details.

  5. Refund – The transferred amount is automatically refunded to you.

Important: Your banking data is only accessed with your explicit consent.


Why is this step required?

Penny Drop is part of our regulatory obligations under Anti-Money Laundering (AML/CTF) laws and the European Payment Services Directive (PSD2). It supplements identity document verification and is legally recognized in several countries:

  • 🇦🇹 Austria: First payment from an account in your name required (FM-GwG Art. 6(4)).

  • 🇪🇸 Spain: Bank transfer as a verification method under AML Law Art. 12.

  • 🇳🇱 Netherlands: First payment as proof of account ownership (Wwft / EBA Guidelines).


What data is collected and shared?

As part of the Penny Drop process, the following data is collected and processed:

Your account details

Data

Description

Full name

Name of the account holder

IBAN

Your account number

BIC

Bank identification code

Bank name

Name of your bank

Country

Country of the bank

Transaction details

Data

Description

Payment amount

Typically 0.10 EUR

Currency

Euro (EUR)

Payment status

Confirmation of the transaction

Refund status

Confirmation of the return transfer

Frequently asked questions

Will I be charged? The transferred amount (0.10 EUR) is automatically refunded. Transfer fees are generally free of charge, but may vary depending on your bank.

How long does processing take? With SEPA Instant, settlement occurs within seconds. With standard SEPA Credit Transfers, it may take up to 72 hours. The system allows a maximum of 24 hours for the transaction to be confirmed.

What if my bank is not supported? The solution covers over 550 financial institutions in 28 countries, reaching over 90% of the adult population in supported jurisdictions. If your bank is not available, please contact our support team.

Is my payment secure? Yes. The process is based on the EU-regulated open banking infrastructure (PSD2) and uses Strong Customer Authentication (SCA).

Did this answer your question?