VOP – ‘Verification of Payee’ – is a security mechanism that allows the payer to confirm that the payee's name matches a specific IBAN. Simply enter one of the names associated with the account in question and VOP will match it in real time, giving one of the following results:
- Exact match – The name you entered matches one of the holders of this IBAN;
- Partial match – The IBAN has another associated holder. If you continue, the amount may go to someone else;
- No match – The beneficiary name you entered does not match any of the IBAN holders;
- Verification impossible – For technical reasons, it is not possible to verify the IBAN holders.