Verification of Payee (VoP)<\/b> 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.<\/p>\n
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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.<\/p>\n
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Outgoing VoP:<\/b> When you send a transfer from your Accountable Banking business account, a VoP request is automatically sent to the recipient’s bank.<\/p>\n<\/li>\n Incoming VoP:<\/b> 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.<\/p>\n<\/li>\n<\/ul>\n \u200b<\/p>\n In the eurozone, VoP has been mandatory for SEPA and Instant SEPA transfers since 9 October 2025<\/b>.<\/p>\n<\/li>\n A later rollout is planned for non-euro countries (e.g., from 9 January 2027).<\/p>\n<\/li>\n Accountable Banking provides the service free of charge, in line with regulatory requirements.<\/p>\n<\/li>\n<\/ul>\n \u200b<\/p>\n Single transfer<\/p>\n<\/td>\n For each new transfer<\/p>\n<\/td>\n<\/tr>\n Standing order<\/p>\n<\/td>\n Only when setting up a new standing order<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n \u203c\ufe0f Important:<\/b> Existing standing orders set up before the effective date do not need to be reviewed again.<\/p>\n<\/div>\n \u200b<\/p>\n The recipient’s bank returns one of four results. Accountable forwards this result and displays it to you during authorisation:<\/p>\n Result<\/p>\n<\/td>\n Meaning<\/p>\n<\/td>\n Recommendation<\/p>\n<\/td>\n<\/tr>\n Match<\/b><\/p>\n<\/td>\n Name and IBAN match exactly<\/p>\n<\/td>\n Approve the transfer with confidence<\/p>\n<\/td>\n<\/tr>\n Close match<\/b><\/p>\n<\/td>\n Minor deviation in the name (e.g., abbreviations or umlauts)<\/p>\n<\/td>\n Verify the recipient details<\/p>\n<\/td>\n<\/tr>\n No match<\/b><\/p>\n<\/td>\n Name and IBAN do not match<\/p>\n<\/td>\n Correct the details and contact the recipient<\/p>\n<\/td>\n<\/tr>\n Verification not possible<\/b><\/p>\n<\/td>\n The bank cannot make a match<\/p>\n<\/td>\n Verify the IBAN and name directly with the recipient<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n \u203c\ufe0f Important:<\/b> VoP does not automatically block the transfer. It serves as a warning signal, not a block.<\/p>\n<\/div>\n \u200b<\/p>\n VoP automatically checks whether a recipient’s name matches their IBAN before a SEPA transfer is sent.<\/p>\n<\/li>\n Accountable Banking supports VoP for both outgoing and incoming transfers.<\/p>\n<\/li>\n VoP is mandatory in the eurozone from 9 October 2025. Non-euro countries follow at a later date.<\/p>\n<\/li>\n VoP does not block transfers automatically. It gives you a warning so you can decide how to proceed.<\/p>\n<\/li>\n<\/ul>\n Need help? Chat with us or email support@accountable.eu, we’re happy to help.<\/p>\n","protected":false},"excerpt":{"rendered":" VoP checks whether the recipient’s name matches the IBAN before every SEPA transfer, protecting you from misdirected payments.<\/p>\n","protected":false},"featured_media":0,"template":"","help_label":[412,463],"class_list":["post-16420","help_center","type-help_center","status-publish","hentry"],"acf":[],"yoast_head":"\nWhen does VoP apply?<\/h1>\n
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How and when is VoP applied?<\/h1>\n
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\n \n \n \n \n \n What do the VoP check results mean?<\/h1>\n
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