Verification of Payee (VoP): what it is and how it works
Since October 2025, euro area banks check that the payee's name matches the IBAN before every credit transfer.
Verification of Payee (VoP) is a check the bank runs before sending a credit transfer: it compares the name you enter with the actual holder of the IBAN. Regulation (EU) 2024/886 requires it for both regular and instant transfers.
Dates
- Euro area: since 9 October 2025.
- EU outside the euro area: from 9 July 2027.
Possible results
- Match: the name and the IBAN belong to the same holder.
- Close match: the name is similar. The bank shows you the correct name.
- No match: the bank warns you the payment may not reach the person you expect.
- Verification not possible: for example, when the payee's bank does not respond.
You decide whether to proceed. If you go ahead after a "no match" warning, the bank may not be liable for the mistake. The service is free of charge.
Tips for businesses
- Store payee names exactly as they appear on the account: the full legal name for companies.
- For bulk files, review the warnings before authorising the batch.
- Check the IBAN format before adding a payee with our IBAN checker.