Bank account, IFSC and penny-drop checks
One confirms an account exists and whose it is. The other reads the transactions to assess income and behaviour. Underwriting needs both.
A payout to a wrong or non-existent UPI ID fails slowly and confuses everyone. A quick name resolution before you send fixes that.
There is more than one way to confirm a bank account. The right choice depends on value, speed and how much friction you can accept.
An IFSC resolves to a bank, branch, city and, importantly, which payment rails that branch supports. Here is how to use each field.