BRUSSELS / LONDON (IT BOLTWISE) – From October 2025, a new EU regulation will make payment transactions in Europe more secure. In the future, banks will have to match the name of the payee with the IBAN before a SEPA transfer is released. This measure is intended to minimize errors in transfers and increase consumer confidence.
Today’s daily deals at Amazon! ˗ˋˏ$ˎˊ˗
From October 9, 2025, an important EU regulation will come into force that is intended to make payment transactions in Europe more secure. The so-called “Verification of Payee” (VoP) requires banks to compare the name of the payee with the specified IBAN before a SEPA transfer is approved. This automatic recipient verification takes place within seconds and is intended to help minimize errors in transfers.
The new system works very simply: As soon as a transfer is submitted, the bank checks whether the recipient’s name entered matches the actual account holder of the IBAN. If there are any discrepancies, the payer is informed immediately and can decide whether he still wants to carry out the transfer or cancel it. This regulation applies to all SEPA transfers, regardless of the banking method or software used.
With the introduction of this regulation, the liability provisions will also change significantly. If a bank does not carry out the required recipient verification and a transfer error occurs, the financial institution must be liable for the resulting damage. In such cases, banks are obliged to immediately refund the transferred amount to the payer. Liability depends on the result of the check: If the name and IBAN match, the bank is liable if something goes wrong. If there is no match or only a partial match and the customer transfers despite the warning, the payer remains liable.
For consumers, the new regulation means more security with slightly longer processing times. The recipient verification process is automatic, but in the event of discrepancies it can lead to questions. Companies in particular should check their master data and ensure that the company name and account holder match. The regulation applies to all 27 EU member states as well as Norway, Iceland and Liechtenstein. Banks that work with foreign currencies have until July 2027 to implement this. The new security measure means there are no additional fees for consumers.
Order an Amazon credit card without an annual fee with a credit limit of 2,000 euros!
Bestseller No. 1 ᵃ⤻ᶻ “KI Gadgets”
Bestseller No. 2 ᵃ⤻ᶻ “KI Gadgets”
Bestseller No. 3 ᵃ⤻ᶻ “KI Gadgets”
Bestseller No. 4 ᵃ⤻ᶻ “KI Gadgets”
Bestseller No. 5 ᵃ⤻ᶻ “KI Gadgets”
Please send any additions and information to the editorial team by email to de-info[at]it-boltwise.de. Since we cannot rule out AI hallucinations, which rarely occur with AI-generated news and content, we ask you to contact us via email and inform us in the event of false statements or misinformation. Please don’t forget to include the article headline in the email: “New EU regulation: Automatic comparison for SEPA transfers from 2025”.