What is Verification of Payee (VoP)?
Verification of Payee (VoP) is a security check that helps ensure you are sending money to the correct account. It compares the name you enter for the payee with the name registered to the IBAN. This helps prevent payments being sent to the wrong account and reduces the risk of fraud.
When does Verification of Payee happen?
VoP checks are performed when you:
Add a new payee
Make a SEPA or SEPA Instant payment
VoP is mandatory under EU regulation for SEPA and SEPA Instant payments.
How can I make sure I receive payments correctly?
To avoid payment issues:
Always provide your full legal name and correct IBAN.
Do not use nicknames.
This helps ensure payments can be verified correctly.
Please review the payment details carefully. If you choose to proceed after we have flagged a Close Match, No Match, or Unable to Verify result and the payment is sent to the wrong beneficiary, you may be responsible for the loss and we may not be able to recover the funds.
Still need help?
Drop us a chat in your app and our support team will help.