Starting October 6, a new service will be gradually introduced to help better protect your instant euro payments within the SEPA area: Verification of Payee (VoP).


As part of compliance with the European regulation aimed at strengthening payment security, the Verification of Payee (VoP) service will be introduced on October 6, 2025, for instant euro transfers within the SEPA1 area. This regulation requires all payment service providers, including banks, to ensure that the beneficiary’s name matches the provided IBAN before the payer confirms the transfer.

  • INDIVIDUALS
  • PROFESSIONAL
Why is this verification important?

This measure aims to combat fraud (identity theft, fake suppliers) and reduce input errors during transfers. VoP allows real-time verification that the beneficiary’s name matches the entered IBAN. This verification will apply to all euro transfers initiated online via your BILnet online banking.

How to prepare?
  • Ensure the beneficiary’s name exactly matches the one on their bank account. Preferably use the name shown on the RIB (bank identity statement) or, if unavailable, the name near the IBAN on the invoice or payment request. If in doubt, contact the beneficiary for confirmation.

  • Aliases, abbreviations, or trade names may trigger alerts.

  • Update the names in your beneficiary list now to ensure smooth verification from October 9, 2025.
How does VoP work?

Before confirming your transfer, you’ll receive an immediate response on the data match. This is based on the match between the beneficiary’s account holder name and the IBAN. Possible results:

  • Exact Match
    The name and IBAN match. You can proceed with confidence.

  • No Match
    The data doesn’t match. An alert will appear—please check the entered information.

  • Close Match
    The name is similar but not identical. A suggestion may be provided.

  • No Answery/
    Verification could not be completed (technical issue, closed account, no response from the beneficiary’s bank, etc.).

    If the result is anything other than “Exact Match,” you can cancel, modify, or proceed with the transfer. By proceeding without changes, you acknowledge and accept the risk that the funds may be sent to the wrong beneficiary.

    You will be notified once the transfer is executed or rejected. In case of rejection, a secure message will inform you of the reason.
What types of transfers are affected?
  • The VoP service will apply to euro transfers within the SEPA area.

  • This verification will be automatically activated for all euro transfers initiated online via BILnet, even if the beneficiary is already in your list or receives recurring payments.

Enhanced security for each of your payments. 

Why is this verification important?

This measure aims to combat fraud (identity theft, fake suppliers) and reduce input errors during transfers. It will verify, from the moment a transfer is initiated, that the entered beneficiary name matches the one registered with their bank. This verification will apply to all euro transfers initiated online via BILnet or MultiLine.

How to prepare?
  • Make sure the beneficiary’s name you enter exactly matches the one registered on their bank account. Preferably use the name shown on the bank account statement (RIB) provided by the beneficiary, or if unavailable, the name shown near the IBAN on the invoice or payment request. If in doubt, don’t hesitate to contact the beneficiary for confirmation.

  • Aliases, abbreviations, or trade names may trigger alerts.

  • Check that the invoices you issue display the exact name of your account. If you change or correct your invoices, inform your service providers and/or suppliers as soon as possible.

  • Companies and institutional clients can choose to deactivate the Verification of Payee (VoP) for bulk transfers via file upload. Important: If there is an error in even one line of the file, the entire batch will be rejected. It is therefore essential to ensure the accuracy of all data before submission.

  • Update the names saved in your beneficiary list now to ensure smooth verification when the service goes live on October 9, 2025.
How does VoP work?

Before confirming your transfer, you’ll receive an immediate response on the data match. This is based on the match between the legal name of the beneficiary and the IBAN. Possible results:

  • Exact Match
    The name and IBAN match. You can proceed with confidence.

  • No Match
    The data doesn’t match. An alert will appear—please check the entered information.

  • Close Match
    The name is similar but not identical. A suggestion may be provided.

  • No Answer
    Verification could not be completed (technical issue, closed account, no response from the beneficiary’s bank, etc.).

If the result is anything other than “Exact Match,” you can cancel, modify, or proceed with the transfer. By proceeding without changes, you acknowledge and accept the risk that the funds may be sent to the wrong beneficiary. Important: If there is an error in even one line of the file, the entire batch will be rejected. It is therefore essential to ensure the accuracy of all data before submission.

You will be notified once the transfer is executed or rejected. If a MultiLine transfer is rejected, a pain.002 file will be sent with the reason. For payments initiated via BILnet, a secure message will be sent.

What types of transfers are affected?
  • The VoP service will apply to euro transfers within the SEPA area.

    This verification will be automatically activated for all euro transfers initiated online via BILnet or MultiLine, even if the beneficiary is already in your list or receives recurring payments.

  • Non-electronic payments (by mail, fax, email) are not subject to VoP.

VoP reinforces security, fraud adapts: keep your eyes open

VoP is an additional security measure, but it cannot guarantee complete protection against fraud attempts.

Despite all efforts to secure your assets and data, fraud methods are constantly evolving and becoming more sophisticated.

Learn more

1 The list of SEPA member countries is available here