Verification of Payee (VoP) lets you check whether the recipient's name matches the IBAN before making a SEPA transfer. This catches typos or incorrect recipient details early and reduces the risk of misdirected payments.
Accountable Banking and Swan now support VoP for both senders and recipients of transfers. This article explains how VoP works, when it applies, and what each check result means.
Outgoing VoP: When you send a transfer from your Accountable Banking business account, a VoP request is automatically sent to the recipient's bank.
Incoming VoP: When someone wants to transfer money to your Accountable Banking business account and their bank sends a VoP request, Accountable responds to it in the background.
In the eurozone, VoP has been mandatory for SEPA and Instant SEPA transfers since 9 October 2025.
A later rollout is planned for non-euro countries (e.g., from 9 January 2027).
Accountable Banking provides the service free of charge, in line with regulatory requirements.
Single transfer | For each new transfer |
Standing order | Only when setting up a new standing order |
‼️ Important: Existing standing orders set up before the effective date do not need to be reviewed again.
The recipient's bank returns one of four results. Accountable forwards this result and displays it to you during authorisation:
Result | Meaning | Recommendation |
Match | Name and IBAN match exactly | Approve the transfer with confidence |
Close match | Minor deviation in the name (e.g., abbreviations or umlauts) | Verify the recipient details |
No match | Name and IBAN do not match | Correct the details and contact the recipient |
Verification not possible | The bank cannot make a match | Verify the IBAN and name directly with the recipient |
‼️ Important: VoP does not automatically block the transfer. It serves as a warning signal, not a block.
VoP automatically checks whether a recipient's name matches their IBAN before a SEPA transfer is sent.
Accountable Banking supports VoP for both outgoing and incoming transfers.
VoP is mandatory in the eurozone from 9 October 2025. Non-euro countries follow at a later date.
VoP does not block transfers automatically. It gives you a warning so you can decide how to proceed.
Need help? Chat with us or email [email protected], we're happy to help.
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Author - Sophia Merzbach
Sophia has been a key member of the Accountable team for many years, bringing a unique blend of journalistic precision and in-depth tax expertise to her work.
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