Verification of Payee (VoP)

Verification of Payee (VoP) is a service that helps ensure you’re paying the right person or company. It’s part of the Instant Payments Regulation, a European regulation passed in March 2024.

From 9 October 2025, we’ll start running mandatory checks on SEPA Credit Transfers or Instant SEPA Credit Transfers (referred to as "transfer" or "transfers" from now on) in the SEPA region. These checks apply to both incoming and outgoing transfers. When you send money, VoP checks if the name and IBAN you entered match the details at the beneficiary’s bank.

Understanding the verification process

When sending money to a beneficiary, we run an automatic VoP check before the money leaves your account. Here’s how it works:

1. Enter the beneficiary’s name and IBAN or choose a saved beneficiary, and then continue.
2. We’ll check that the details you entered match those registered at the beneficiary’s bank.
3. After the VoP check, you’ll get one of four match results:
   • Match
   • Close match
   • No match
   • Verification not possible
4. The match result may suggest a name correction, and you can update the beneficiary details so they match. You can then choose to continue.
5. On the mobile consent screen, finalize the transfer by selecting Confirm. Select Cancel to stop the transfer.

Understanding your match results 

Each result shows you how the details you entered compare to the beneficiary’s bank records.

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  • The beneficiary details you entered match the information registered at the beneficiary’s bank.
  • It’s safe to continue with the transfer.
•  
  • The details you entered closely match the information registered at the beneficiary’s bank, possibly due to a typo.
  • We’ll show you the name suggested by the beneficiary’s bank. For example, if you entered "Malik Ntaie," we might suggest: Malik Ntaye.
  • If the suggestion is correct, select it to update and match the beneficiarys’ name. You can choose not to select the suggested name and continue with the transfer.
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  • The provided details don’t match the information registered at the beneficiary’s bank.
  • You can choose to continue with the transfer, but be careful, you risk accidentally sending money to the wrong account.
  • We recommend that you carefully review the name and IBAN for errors, or confirm the details with the beneficiary before continuing.
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  • We couldn’t check the details you provided. This can happen due to an invalid IBAN, technical errors, or an issue with the beneficiary’s bank or the VoP service itself.
  • You can choose to continue with the unverified transfer, but be careful, you risk accidentally sending money to the wrong account.
  • We recommend that you carefully review the name and IBAN for errors, and confirm the details with the beneficiary before continuing.

Updating your saved beneficiaries

To prevent payment mismatches, review your list of saved beneficiaries. Make sure the name you have saved matches the legal name registered with their bank.

• For individuals, use their full legal name.
• For companies, use their registered business name.

In Web Banking, go to Transfer > Beneficiaries to review and add your beneficiaries.

If a name is incorrect, you can enter the correct registered name when you start a new transfer or add it again with the correct details. This makes it more likely that you’ll get a Match the next time you send money.