Verification of Payee

A check that compares the beneficiary name a payer types against the name registered to the destination account, and shows the payer a match, a close match, or a mismatch before the payment is confirmed.

Under the EU Instant Payments Regulation, payment service providers in the euro area have been required to offer this free of charge since 9 October 2025. Providers in non-euro Member States follow by 9 July 2027 (European Central Bank, checked September 2026).

For a business receiving euro through a third party, this is the moment the arrangement becomes visible to the customer. Account details in your own company's name produce a clean match. Pooled details in a provider's name produce a warning on every payment.