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Outgoing Payments

Verification of Payee (VoP)

The Verification of Payee (VoP) in 365 business Banking checks for every bank connection, before payment, whether a payee's name and IBAN match.

Since October 2025, EU law makes the Verification of Payee (VoP) part of every SEPA credit transfer. The bank compares the payee's name with the name that the payee's bank has stored for the IBAN. This protects against fraud and input errors. 365 business Banking uses the same check before the payment, directly on your master data in Microsoft Dynamics 365 Business Central and in the payment journal.

Two checks, two points in time

With PSD2/XS2A, your bank's web form shows a mismatch directly in the payment overview.

The check always runs via finAPI

The check in Business Central runs via finAPI for every bank connection and uses the Company Bank Access to sign in. This also applies if you only manage your accounts via EBICS or by file. Without this bank access, no check takes place. The Verification of Payee field on the Banking Setup page defines which service checks. The setting applies to the entire company. See Banking Setup.

Applies to: PSD2/XS2A via finAPI, EBICS, camt/pain file

Check payees

1. Open the bank account card, or select the lines in the journal.
2. Choose Verification of Payee (VoP) and confirm the question.
3. Business Central checks Account Holder, IBAN and SWIFT Code and stores the result on the bank account. In the journal, Business Central then asks whether you want to view the results and opens the log entries.

On the Employee Card, the status is shown in the VoP Status field. If you change the IBAN, the SWIFT Code or the name there, the check is reset.

Only IBANs within the SEPA area can be checked. For other IBANs, the bank account receives the status ◯, and Business Central stores the message "The provided IBAN is outside the SEPA region and cannot be verified using the Verification of Payee (VoP) service." in the Error field of the log entry. The Verification of Payee (VoP) Log Entries page shows the message in the Error column.

Business Central sends the checks to finAPI in groups of up to ten bank accounts. If finAPI rejects a group, for example because of an IBAN outside the SEPA area, every bank account in that group receives the status ◯, and the log entry contains the message in the Error field. The remaining groups are still checked. A result is only recorded if the bank account still has the IBAN that was checked. If you have changed the IBAN in the meantime, the status remains reset.

Verification statuses

The status is shown on the bank account in the VoP Status field, in the caption of the Account Holder field, and in the payment journal in the Verification of Payee (VoP) Status column. If you select the status on the bank account card, the explanation is shown.

If you change Account Holder, IBAN or SWIFT Code, the status is reset to ⚪, because the result applied to the previous details.

Failed check

With 🔴, the account holder you entered does not match the name that the bank reports. Check the details and correct them. If in doubt, clarify the details directly with the payee through a contact channel you know.

Close match

With 🟡, the account holder differs only slightly. If you check a single bank account on the customer or vendor bank account card, Business Central offers to take over the name reported by the bank: "The Verification of Payee (VoP) check identified a close match for the bank account … - …. Do you want to accept the matched name '…' as the account holder name?" If several bank accounts were checked in one step or in the journal, take over the names individually through the log entries (see below).

Verification of Payee (VoP) log entries

Every check is logged. You open the Verification of Payee (VoP) Log Entries page through search or after a check in the journal.

With Apply, you take over the Matched Name of a log entry as Account Holder on the checked customer or vendor bank account. Business Central asks "Do you want to apply the matched name … to bank account?" and then offers to open the bank account card.

Verification of Payee at the bank via EBICS

Applies to: EBICS

Your bank also checks when the payment is carried out. Via EBICS, it offers the SEPA credit transfer with an option for this. You define which option is used on the EBICS participant in the Payee Verification (VOP) field:

With Opt-in (VOI), a payment is therefore only carried out once the result has been confirmed in the banking program. The check in Business Central complements this option and does not replace it.

Manage different account holders

In 365 business Banking, you can manage different account holders. This is required, for example, if you regularly pay a payee whose account is held at the bank under a different name than in your master data, such as the full company name instead of the trading name.

In this case, enter the name under which the account is held in the Account Holder field of the customer or vendor bank account. 365 business Banking uses this name as the recipient name for SEPA credit transfers and checks it in the Verification of Payee. More information about the account holder and the release status: Bank accounts of customers, vendors and employees.

Step by step

Using a vendor bank account as an example:

1. Choose the Search icon, enter Vendors, and open the vendor card.
2. Choose Vendor > Bank Accounts.
3. Open the vendor's bank account.
4. In the Account Holder field, enter the name under which the account is held at the bank.
5. Choose Verification of Payee (VoP) to check the new name.

Troubleshooting

See also

• Bank accounts of customers, vendors and employees
• Carry out payment: process per bank connection
• Banking Setup
• Verification of Payee (new feature)