Verification of Payee (VoP)

With Verification of Payee (VoP), 365 business Banking checks whether the name and IBAN of a customer, vendor or employee bank account belong together.

Business Value

Since October 2025, EU law makes Verification of Payee part of every SEPA credit transfer: the bank compares the payee's name with the name the payee's bank holds for the IBAN. 365 business Banking applies this check to your master data before the payment. This detects typos and fraudulently changed bank details before a payment is made.

Feature Description

• The Verification of Payee (VoP) action checks Account Holder, IBAN and SWIFT Code. It is available on the customer or vendor bank account card, on the Employee Card, in the Payment Journal, in the Cash Receipt Journal and in SEPA Payment Import.
• The result is shown as a status on the bank account and in the journal: 🟢 Recipient confirmed, 🟡 Name differs slightly, 🔴 Name does not match, ◯ Check not applicable. With 🟡, Business Central offers to take over the reported name.
• If you change account holder, IBAN or SWIFT code, the status is reset.
• The check runs via finAPI and the company bank access for every bank connection; each check is recorded in the Verification of Payee (VoP) Log Entries.
• Carry Out Payment asks for confirmation if a bank account is not confirmed, but does not prevent the payment.

Details: Verification of Payee (VoP)