Verification of Payee FAQ
Clear answers to the most common questions about Verification of Payee — the basics, the regulation, the outcomes, fraud, integration and how RoxPay helps.
Everything you need to understand Verification of Payee in one place. Browse by topic, or jump to the category that matches your role.
Verification of Payee basics
What VoP is and how it works.
Verification of Payee (VoP) is a real-time check that confirms whether the payee name a payer enters matches the IBAN before a SEPA credit transfer is sent, returning a clear outcome so the payer can send, correct or stop.
When a payer enters a name and IBAN, the payer's PSP asks the account-holding PSP whether the name matches. The result — match, close match, no match or not possible — is shown before the payment is authorised.
The standard outcomes are match, close match (a near but not exact name), no match, and not possible (for example when the account cannot be checked). Each guides the payer's next step.
No. IBAN validation only checks that the number is well-formed. Verification of Payee additionally confirms the account holder name matches the IBAN.
Regulation & deadlines
The rules behind the obligation.
Yes. Under the EU Instant Payments Regulation, euro-area PSPs offering euro credit transfers must provide Verification of Payee, with the key date of 9 October 2025.
Non-euro-area EU PSPs join the obligation on 9 July 2027, extending Verification of Payee coverage across the wider EU.
It applies to euro credit transfers offered by PSPs in scope, covering both instant and standard SEPA credit transfers.
The SEPA Verification of Payee scheme is managed at European level through the European Payments Council framework, with PSPs adhering to common rules.
Fraud prevention & business use
How VoP protects payments.
By warning a payer when the name does not match the IBAN, VoP intercepts authorised push payment fraud and misdirected payments before money leaves the account.
Yes. Finance teams use VoP to verify supplier IBANs before paying, in bulk or via API, which is one of the strongest defences against invoice-redirection fraud.
Yes. Verifying salary IBANs before payday catches payroll-diversion fraud, where a criminal changes an employee's bank details.
VoP is a powerful layer but not a silver bullet. It works best alongside other controls as part of a layered fraud-prevention approach.
Integration & RoxPay
Going live with VoP.
You can build scheme adherence and name matching in-house, or integrate a provider like RoxPay that delivers requesting and responding VoP through a single API.
No. The check is designed for low latency so it fits inside the instant-payment window without a noticeable delay for users.
Yes. RoxPay provides a sandbox so you can integrate and test match, close-match, no-match and not-possible outcomes before production.
VoP is typically priced per check with volume tiers. RoxPay provides a tailored quote based on your volume and whether you request, respond, or both.
Still have a question?
Talk to RoxPay about Verification of Payee for your use case.