This is a new security check used by banks and payment service providers to verify the payee’s name you provide matches the payee’s name held with their bank or payments service provider. Verification of Payee will be applicable to both existing and newly created incoming and outgoing SEPA Credit Transfers and SEPA Instant Credit Transfers.
VoP will be available from 05 October 2025.
For your security and as required under regulation VoP needs to be completed when initiating new and existing outgoing SEPA Instant Credit Transfer and SEPA Credit Transfer payments under the SEPA Instant Payments Regulation.
When you make a SEPA Credit Transfer or SEPA Instant Credit Transfer, the VoP check will occur automatically to compare the name of your payee with the name on the recipient’s account. There will be four possible status outcomes following this check. Before you proceed with the credit transfer you will be asked to review the status which is returned via the Verification of Payee check:
Once you have reviewed the status returned to you, you can choose to proceed with the payment, amend the name and re-initiate the payment, or stop the payment.
Remember to be cautious when making any payment. The VoP service only verifies that the name of your payee matches with the name held with their bank or payments service provider. It is important to check the information you are inputting with your payee and only proceed with the payment if you are confident that the account/payee is legitimate, especially where the VoP response indicates the payee details are not a match, as this may mean the payment may be sent to someone other than the intended payee.
No. This is a verification step of the payee details only and will not prevent you from making a payment regardless of the VoP check outcome.
Please be diligent when making a payment, the VoP service only verifies that the Name and IBAN provided match those that are on record for the payee with their payments service provider.
No. This is a verification step of the payee details only and will not prevent you from setting up a new payee regardless of the VoP check outcome. If you receive a Partial Match, No Match or Not able to process, please verify the details with the payee before proceeding.
It is your responsibility to ensure the payee details you are transferring funds to are correct. If you proceed with a payment and the name you enter does not match the name on the account with the payee’s bank or payments service provider, we may not be able to recover the money.
We will on a best endeavours basis request a payment recall on your behalf, however we cannot guarantee the outcome of this request. Irrespective of the VoP results, if you choose to proceed with a payment the funds will be transferred to the IBAN within the payment details.
When making a payment to a joint account, VoP will tell you if the name you enter matches at least one of the account holders. We recommend you check the name with the payee before continuing with the payment.
When making a payment to a business account, ensure that you checked that name on the account with the Payee. The name needs to be exactly as it appears on the account.
Yes, under SEPA Instant Payments Regulation for incoming SEPA Credit Transfers or SEPA Instant Credit Transfers, the payer’s payments service provider will verify the payee’s name on the payment against the name on your account with us. In the case of a partial match, we will provide them with the name and IBAN on your account.
When providing your bank details for receiving SEPA Credit Transfer and SEPA Instant Credit Transfer, always provide the name as it appears on your account.
Yes, under the SEPA Instant Payments Regulation, we are required to carry out VoP for all SEPA Credit Transfer and SEPA Instant Credit Transfer, as well as when setting up payments to payees with European Economic Area International Bank Account Numbers (IBANs).
No, there is no fee for VoP.
