An important change will come into effect on October 9, 2025: payee verification – also known as Verification of Payee (VoP) – will become mandatory in the EU. This procedure is intended to significantly reduce incorrect transfers and cases of fraud.
Until now, SEPA transfers have not been checked to ensure that the payee name entered actually matches the IBAN provided.
This will change from October 2025: banks will have to check the name and IBAN before executing a transfer. The result will be displayed to the payer immediately.
As soon as a transfer is entered, the bank checks:
Depending on the result, a warning message appears. In case of discrepancies, the bank can block the order or request confirmation at its own risk.
EU Regulation 2024/886 on real-time transfers (Instant Payments Regulation) makes recipient verification mandatory. It aims to:
To ensure that transfers run smoothly after the deadline, companies should take action now:
For private customers, the process remains largely the same – only more secure:
Verification of Payee is a key step toward greater security and transparency in European payment transactions. From October 9, 2025, the following will apply: The name and IBAN must match, otherwise a warning will be issued—or the transfer will be blocked.
Checking your master data early on will help you avoid delays and ensure smooth payments in the future.
Image credits: Header- & featured image by FELLOWPRO & pvproductions on Freepik
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