With Verification of Payee (VoP), you can check whether the specified recipient name matches the IBAN before making a SEPA transfer. This allows you to detect typos or incorrect recipient data early on and reduce risks.
Accountable Banking and Swan now support VoP for both senders and recipients of transfers.
How does VoP work?
Outgoing VOP: When you send money from your business account, a VoP request is automatically sent to the recipient's bank.
Incoming VoP: If someone wants to transfer money to your Accountable Banking business account and their bank sends a VoP request, Accountable will respond to it in the background.
When does VoP apply / since when must it be used?
In the eurozone, VoP has been mandatory for SEPA and Instant SEPA transfers since October 9, 2025.
A later introduction is planned for non-euro countries (e.g., from January 9, 2027).
Accountable Banking provides the service free of charge, in accordance with regulatory requirements.
How and when is VoP applied?
single transfer | For each new transfer, |
standing order | Only when setting up a new standing order |
‼️Important: Existing standing orders that were set up before the effective date do not need to be reviewed again.
What do the results of the VoP test mean?
The recipient bank can deliver one of four results. We forward this result and display it to you during authorization:
Ergebnis | Meaning | Recommendation |
Match | Name and IBAN match exactly | Securely approve transfer |
Close match | Minor deviation in the name (e.g., due to abbreviations, umlauts) | Verify recipient data |
No match | Name and IBAN do not match | Correct data, contact recipient |
Verification not possible | The bank cannot make an allocation | Check alternative, verify IBAN/name |
‼️Important: VoP does not automatically block the transfer. It serves as a warning signal, not as a block.
If you have any questions about the VoP exam or the results, please feel free to contact us, we will be happy to help!🚀