Verification of Payee: what EU banks must do by 2027

Since October 2025, payment providers in the euro area must check that the name of the person you’re paying matches the IBAN you entered — and warn you if it doesn’t. It’s one of the most significant anti-fraud measures in EU payments history.

Non-euro countries are next. Member states outside the euro area must comply by 2027, bringing name-checking to virtually every credit transfer in the EU.