Last Article Update 20.10.2025
George helps you keep an eye on your money. With the Verification of Payee service, he can now check if your recipient details match. This protects you from scammers and gives you extra peace of mind during transfers. Here's how the service works and what to do for each verification result.
What it is:
Before every SEPA transfer in Euro, George checks with the recipient bank if the recipient's IBAN & the recipient's name match. This is to make sure you’re sending money to the right person.
Why it helps:
The Verification of Payee service gives you peace of mind that your money is going where it should. It helps you catch small mistakes, like entering a valid IBAN that actually belongs to someone else. It also helps protect you from scammers who use false identities, such as fake business names. George can now check directly if an account really belongs to your intended recipient.
How it works:
When you enter the recipient details, George automatically checks with the recipient bank if name and IBAN match. George will notify you of the outcome with one of the following messages. Here's what to do in each case:
Name and IBAN match.
The IBAN is registered to the exact name you entered. No further action is required.
The IBAN is registered to ...
The name you entered almost matches the IBAN. You may get this result if you made a typo, e.g. "Marie Webbe" instead of "Marie Webber", or if part of the name is missing, e.g. "D. Erik" instead of "Dag Erik". George will reveal the full name registered to the IBAN and recommend that you update your entry. If the recipient is saved under Contacts, George can also update your Address Book entry for you.
The IBAN is registered to a different name.
This is where you need to be extra careful. George will inform you that the name you entered does not match the name registered to the IBAN. It could be something harmless such as a nickname ("Mama"), or, in the worst case, you are about to send money to the wrong person. Due to banking confidentiality regulations, George cannot reveal the name registered to the IBAN you entered. If you get this result, here is what you should do:
→ Check IBAN and name for errors and completeness.
→ Ask the recipient to confirm their details.
→ If something doesn't feel right, cancel the payment. The bank may not provide a refund if your transfer goes to the wrong person.
The recipient bank cannot check if name and IBAN match.
George checked with the recipient bank but they couldn't confirm the recipient's verification status. For the kind of transfer you’re making, the Verification of Payee service is not supported. This can happen for a few reasons:
→ The recipient bank is not registered for the verification service.
→ You're making a non-SEPA transfer, e.g. in a different currency, to/from a country outside the SEPA area.
Please double-check the recipient’s details manually.
Sorry, I cannot check if name and IBAN match.
You'd see this message if the Verification of Payee service is temporarily unavailable. This can happen for a few reasons:
→ The recipient account is closed.
→ You're sending money to a savings account (or another account not used for payments).
→ The verification service is temporarily down.
→ There’s a technical issue on the recipient bank's side.
Please try again later, or double-check the recipient’s details manually.
The Verification of Payee service is available from 09 October 2025, in line with the "Instant Payment Regulation". From then on, George will start checking recipient details with every SEPA transfer. If you see a warning, it doesn't always mean that something is wrong with the transfer. However, it's recommended that you check the recipient details (name & IBAN).
Of course you can send the transfer despite the warning, if you know that the IBAN belongs to the right person. But just to be safe, double-check the name and IBAN with the recipient.
The Verification of Payee check is a legal requirement. It's not possible to opt out of the service or to deactivate warnings for trusted recipients. If George warns you that the recipient details don't match, please correct the details, even if you've made the same transfer before. If in doubt, check the details with the recipient. For saved contacts, you can also update the Addressbook entry, so you don't see the same warning each time.
George will perform a Verification of Payee check when you create the order for the first time. You will also be able to see the order's verification status in the order list and in the order detail view. However, after order creation, you won't receive a new, separate warning every time the standing order is executed. George will execute the standing order as usual, regardless of its verification status.
Something to keep in mind: From now on, your details are checked by the Verification of Payee service every time you get a Euro transfer. Make sure to give the sender your full name as it appears in your account info. Alternatively, you can also send a payment request via QR code. That way, George fills out your information automatically and the sender doesn't have to enter your details.
Author: Rebecca Stoll