What changes for a transfer
For businesses, it is one more protection against errors and fraud, provided the names recorded for your suppliers are exact.
Before you confirm a euro transfer, you enter the payee's IBAN and name. Your bank now sends both to the payee's bank, which answers whether the name matches the account holder. You see the answer before confirming, while it is still possible to cancel.
The rule covers SEPA credit transfers, standard and instant. It does not replace a company's own checks: it verifies the name of the holder, not that this is really the supplier you think you are paying.
The four possible results
Under the regulation, the check ends in one of these four answers:
| Result | What the bank shows | What to do |
|---|---|---|
| Match | The name entered matches the account holder | Confirm the transfer |
| Close match | The name is nearly the same; the bank shows the name registered for the account | Compare with the supplier's legal name, fix the record, then confirm or cancel |
| No match | The name entered does not match the account holder | Do not confirm before calling the supplier back |
| Check not possible | The payee's bank could not answer | Check the IBAN another way, for example by phone, before paying |
You can confirm a transfer even when the warning appears, but you do so at your own risk: under Regulation (EU) 2024/886, if you pay despite a "no match" or "close match" result, the bank is not obliged to refund an error or fraud that the warning flagged.
Who is concerned, and since when
Payment service providers in the euro area have had to offer the service since 9 October 2025. European Union member states outside the euro area follow later, on 9 July 2027: Bulgaria, the Czech Republic, Denmark, Hungary, Poland, Romania and Sweden.
Under Regulation (EU) 2024/886, the service is free for the payer and does not depend on the amount. It applies when a transfer is sent; direct debits are not covered.
What it means for a business
For a business, the check is most useful in three cases: a new supplier, a change of IBAN announced by e-mail, and the manual entry of a name. It also catches typing errors in an IBAN, which are more frequent than one might think.
Business customers who send bulk payments, for example payroll or a batch of supplier payments, can opt out of the service for those files. This is an option offered by the regulation, and it means the company bears the risk: it loses the alert before each transfer leaves. If you use this option, checking IBANs and names beforehand becomes all the more important: see the method against IBAN fraud.
Record the exact legal name of your suppliers
The comparison is made with the name of the account holder. For a company, this is generally its legal name as on the register, not the trading name or the usual abbreviation. A trading name, abbreviation or commercial name therefore gives a "close match" or "no match", even when the supplier is the right one.
The remedy is simple: in your software, record the exact legal name for each supplier. The company search gives it from the name or the SIREN. Fictitious examples:
| Supplier (fictitious) | Name entered in the transfer | Legal name to record | Likely result |
|---|---|---|---|
| Atelier Lumière | Lumière Déco | ATELIER LUMIÈRE SARL (name on the register) | Close or no match: "Lumière Déco" is a trading name |
| Garage du Port | GARAGE DU PORT | GARAGE DU PORT SAS | Probably match or close: only the legal form is missing |
| Boulangerie des Halles | Boul. Halles | BOULANGERIE DES HALLES | Close or no match: the name is abbreviated |
Results depend on each bank: this table shows the principle, not a guarantee. When the bank shows "close match", it displays the name registered for the account: copy it into your supplier record after comparing it with the register. For the difference between SIREN and SIRET, see SIREN and SIRET: what is the difference?. To find a SIREN from a name: find a company's SIREN by its name.
Frequently asked questions
Since when does payee verification apply?+
Since 9 October 2025 for banks in the euro area, and from 9 July 2027 for European Union member states outside the euro area.
Which transfers are covered?+
SEPA credit transfers in euros, standard and instant. Direct debits are not part of this check.
What happens if the result is "no match"?+
The bank warns you before the transfer leaves. You can cancel or confirm, but if you confirm, the risk of an error or fraud is yours.
Can a business switch the check off?+
Business customers who send bulk payments can opt out of the service, which the regulation allows. The company then remains responsible for checking its IBANs and names.
Which name should I enter for a company?+
Its legal name as on the register, not its trading name or an abbreviation. Jsonpage's company search gives it from the name or the SIREN.
Keep reading
- FRAUDIBAN fraud: check a supplier before you payChanged bank details: call back a known number, check the company, the VAT number and compare the IBAN before paying.
- VERIFICATIONIs this company real? Checks before signingA six-point checklist: identifier, status, name and address, VAT, signals and sanctions lists.
- SIREN · SIRETSIREN vs SIRET vs NIC: what is the difference?The company and its establishments: 9 or 14 digits, the role of the NIC and the right number for each use.
- SIRENFind a French company SIREN from its nameFinding a French SIREN from a company name: methods, pitfalls (homonyms, trade names, establishments) and handling a whole file.