🇪🇺 Important: Verify the name. Protect the payment!

What is happening?

Verification of Payee (VoP) is a new security requirement under Regulation (EU) 2024/886, effective 9 October 2025, for all SEPA transfers. It ensures that the beneficiary name entered matches the IBAN on record, helping to reduce fraud, misdirected payments, and errors. Depending on the result, the system will confirm a match, highlight a partial match, flag a mismatch, or indicate a technical issue, allowing the payer to decide whether to proceed. For all transfers, including VIBAN accounts, the beneficiary must be entered as “Lemonway” to ensure compliance and smooth processing.

You can find the full article 👉 here.

Need Help?

If you have any questions about this change or need support, please contact your Account Manager or reach out to our support team: 📧 [email protected]