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Verification of Payee

Outgoing Instant Payments and Verification of Payee are Live.

From 09 October 2025, you can send instant payments from your payment accounts. To help you keep your money safe, we’ve also introduced a new ‘Verification of Payee’ (VoP security check) for all new and existing SEPA Credit Transfers and SEPA Instant Credit Transfers made through the mobile app and desktop website.

  • SEPA Instant Credit Transfers: Since January 2025, you have been able to receive incoming SEPA Instant Credit Transfers to your payment account. From 09 October 2025, you’ll be able to send outgoing SEPA Instant Credit Transfers from your PTSB payment account. This means you will be able to send euro payments to payment accounts within 10 seconds, every day of the year.
  • Verification of Payee (VoP): There is a new security check called Verification of Payee. This checks the name you enter for the payee against the name held by the receiving bank and tells you if the name matches or not. This helps you make sure your money is going to the right person or business.

 

How will VoP work?

We’ve introduced VoP to help keep your payments safe.  VoP will apply to SEPA Credit Transfers and SEPA Instant Credit Transfers and also when setting up new payees on the mobile app or desktop website and one off payment made through Sentenial UI. VoP on Business24 will be coming soon followed by Branch banking at a later date. This means that the name you enter will be checked against the name held by the receiving bank.

Although VoP adds an additional layer of security, unfortunately fraud and scams are becoming increasingly sophisticated, please be vigilant when making payments and only send money to people you know.

After the VoP check is completed one of the following outcomes will be shown:

  • Match - The information provided is verified
  • Partial Match - Some of the information matches
  • No Match - The information does not match
  • Not able to Process - Due to technical issue or system limitation, the check could not be completed. In this case, the status may appear as: 
    • Verification check not possible
    • Verification cannot be performed
    • Not offered

You can find out more information on these statuses in our dedicated VoP questions and answers.

After this check, you will be given the option to continue with your payment or cancel it, or when setting up a payee you will have the ability to edit the name.  

 

To prepare for the introduction of VoP and to avoid delays in payment processing we recommend you take the following steps:

1. Confirm the name of your payees

    • Confirm with your payees the exact name associated with their account, so you can make sure you have the correct name saved.
    • You can check the name you have saved on any existing payees in the “Transfer” section of your mobile app or online banking.
    • If you need to update an existing payee name, you will need to delete the payee and set up a new payee with the correct name in the same section of your app or online banking.

2. Check the exact name associated with your account, to share with your payers.

 

Your Instant Payment and Verification of Payee questions answered

Explore easy to understand answers to the most commonly asked questions about Instant Payment and Verification of Payee. Find an answer.

 

Fraud warning: Always be vigilant when making payments and only send money to people you know. Never share any of your personal financial information (e.g. the full 6 digits of your  Personal Access Number (PAN). Should you identify a transaction on your statement that you have not authorised and which you suspect to be fraud, call our Fraud Department on +353 1 669 5851. Lines are open 24 hours a day, 7 days a week. Learn more about Fraud and Financial Crime.

 

SEPA stands for the Single Euro Payments Area. It is a system, run by the European Payment Council (EPC) that facilitates standardised and seamless euro payments.

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