Verification of Payee overview

Verification of PayeeVerification of Payee The EU equivalent of Confirmation of Payee (CoP). A service that validates the name of a payment beneficiary against the IBAN registered with their bank or Payment Service Provider (PSP) before a SEPA payment is executed. (VoP) is the EU equivalent of Confirmation of Payee (CoP). It validates that the name of a payment beneficiaryBeneficiary A trusted recipient for payments that includes both information about the business or individual as well as their bank account or instrument details. When using trusted beneficiaries, customers may be allowed to skip Strong Customer Authentication (SCA) when executing Outgoing Wire Transfer or Send transactions, reducing the number of approval steps required. matches the IBANIBAN International Bank Account Number - a standardized international bank account identifier. Managed accounts can be assigned an IBAN to enable wire transfers to and from bank accounts outside of Weavr. IBANs are required for EUR accounts and enable SEPA transfers. registered with their bank or Payment Service ProviderPSP Payment Service Provider - a regulated financial institution (such as a bank or e-money institution) that provides payment services like holding accounts, issuing cards, or executing transfers. PSPs are referenced as the holders of external accounts in features such as Linked Accounts, Confirmation of Payee, and Verification of Payee. (PSPPSP Payment Service Provider - a regulated financial institution (such as a bank or e-money institution) that provides payment services like holding accounts, issuing cards, or executing transfers. PSPs are referenced as the holders of external accounts in features such as Linked Accounts, Confirmation of Payee, and Verification of Payee.) before a SEPASEPA Single Euro Payments Area - the European scheme that standardises euro-denominated bank transfers across participating countries. EUR managed accounts settle incoming and outgoing wire transfers via SEPA Credit Transfer (SCT) or SEPA Instant; our [Verification of Payee](/transactions/owt/vop/overview) check runs against the IBAN registered with the beneficiary's bank or PSP before a SEPA payment executes. payment is executed.

VoP is mandated by the EU Instant Payments Regulation (IPR) and is designed to reduce fraud and misdirected payments by ensuring that the payee's name matches the account information provided by the payer.

VoP is available for EUR Outgoing Wire TransfersWire Transfer A transaction that moves funds between accounts. An incoming wire transfer moves funds from a third-party bank account to a Weavr managed account, while an outgoing wire transfer moves funds from a Weavr managed account to a third-party bank account. Wire transfers require the managed account to have an assigned IBAN (for EUR) or sort code and account number (for GBP). (OWTsOWT Outgoing Wire Transfer - a transaction that moves funds from a Weavr managed account to a bank account held at a third-party financial institution. OWTs require the managed account to have an assigned IBAN and the user to complete Strong Customer Authentication.) sent via SEPASEPA Single Euro Payments Area - the European scheme that standardises euro-denominated bank transfers across participating countries. EUR managed accounts settle incoming and outgoing wire transfers via SEPA Credit Transfer (SCT) or SEPA Instant; our [Verification of Payee](/transactions/owt/vop/overview) check runs against the IBAN registered with the beneficiary's bank or PSP before a SEPA payment executes. (both SCT and SCT Instant).

Prerequisites

VoP is relevant to your integration if both of the following apply:

• Your program supports outgoing wire transfersWire Transfer A transaction that moves funds between accounts. An incoming wire transfer moves funds from a third-party bank account to a Weavr managed account, while an outgoing wire transfer moves funds from a Weavr managed account to a third-party bank account. Wire transfers require the managed account to have an assigned IBAN (for EUR) or sort code and account number (for GBP)..
• Your Identities hold EUR Managed AccountsManaged Account An account held at a financial institution that can be created and managed through the Weavr platform. Each account has a balance where customers can hold funds. Optionally, an IBAN can be assigned to enable wire transfers to bank accounts outside of Weavr..

If your program doesn't meet both conditions, you can skip this section.

Production integration deadline of October 31, 2026

VoP must be implemented in production for any program that supports EUR OWTsOWT Outgoing Wire Transfer - a transaction that moves funds from a Weavr managed account to a bank account held at a third-party financial institution. OWTs require the managed account to have an assigned IBAN and the user to complete Strong Customer Authentication. by October 31, 2026. The feature is available in sandbox on request-contact our support team to enable it on your sandbox account.

When creating an OWTOWT Outgoing Wire Transfer - a transaction that moves funds from a Weavr managed account to a bank account held at a third-party financial institution. OWTs require the managed account to have an assigned IBAN and the user to complete Strong Customer Authentication. in EUR, we perform a VoP check and return the results in the response payload. The VoP result shows as match, close match, no match, or not possible (see below).

Based on the VoP result, your end-users should be given the option to either:

• Cancel the payment so that it cannot be completed, or
• Proceed with the payment by confirming the OWTOWT Outgoing Wire Transfer - a transaction that moves funds from a Weavr managed account to a bank account held at a third-party financial institution. OWTs require the managed account to have an assigned IBAN and the user to complete Strong Customer Authentication..

Unlike Confirmation of Payee for GBP payments, VoP does not include reason codes. The result alone is used to inform the end-user's decision.

Key difference from Confirmation of Payee: linked accounts

Always required for EUR OWTs - even to linked accounts

For GBP OWTsOWT Outgoing Wire Transfer - a transaction that moves funds from a Weavr managed account to a bank account held at a third-party financial institution. OWTs require the managed account to have an assigned IBAN and the user to complete Strong Customer Authentication. via Faster PaymentsFaster Payments The UK domestic real-time payment scheme (run by Pay.UK) used to clear GBP wire transfers between UK bank accounts in seconds. GBP managed accounts settle incoming and outgoing wire transfers via Faster Payments, and our [Confirmation of Payee](/transactions/owt/cop/overview) checks run over this scheme., when sending to a linked account, the /confirm step is skipped. This is because the beneficiaryBeneficiary A trusted recipient for payments that includes both information about the business or individual as well as their bank account or instrument details. When using trusted beneficiaries, customers may be allowed to skip Strong Customer Authentication (SCA) when executing Outgoing Wire Transfer or Send transactions, reducing the number of approval steps required. name was already verified when the linked accountLinked Account An entity in the Weavr system that represents an external bank account or payment service provider (PSP) account which an Identity has verified they own and control. This feature enables users to perform transactions, such as outgoing and incoming wire transfers, between their Linked Accounts and their Managed Accounts as 'self-to-self' transfers. was created, so no additional confirmation is needed at the point of payment.

For EUR OWTsOWT Outgoing Wire Transfer - a transaction that moves funds from a Weavr managed account to a bank account held at a third-party financial institution. OWTs require the managed account to have an assigned IBAN and the user to complete Strong Customer Authentication. via SEPASEPA Single Euro Payments Area - the European scheme that standardises euro-denominated bank transfers across participating countries. EUR managed accounts settle incoming and outgoing wire transfers via SEPA Credit Transfer (SCT) or SEPA Instant; our [Verification of Payee](/transactions/owt/vop/overview) check runs against the IBAN registered with the beneficiary's bank or PSP before a SEPA payment executes., this exception does not apply. The VoP result must always be returned and the /confirm step is always required - including when sending to a linked account. Your app must display the VoP result to the end-user and they must confirm or cancel every EUR OWTOWT Outgoing Wire Transfer - a transaction that moves funds from a Weavr managed account to a bank account held at a third-party financial institution. OWTs require the managed account to have an assigned IBAN and the user to complete Strong Customer Authentication., regardless of the destination.

Verification results

Result	API value	Description
Match	MATCH	The name provided matches the name registered to the IBANIBAN International Bank Account Number - a standardized international bank account identifier. Managed accounts can be assigned an IBAN to enable wire transfers to and from bank accounts outside of Weavr. IBANs are required for EUR accounts and enable SEPA transfers..
Close Match	CLOSE_MATCH	The name provided is similar but not identical to the registered name. The actual account name may be returned to help the end-user decide how to proceed.
No Match	NO_MATCH	The name provided does not match the name registered to the IBANIBAN International Bank Account Number - a standardized international bank account identifier. Managed accounts can be assigned an IBAN to enable wire transfers to and from bank accounts outside of Weavr. IBANs are required for EUR accounts and enable SEPA transfers..
Not Possible	NOT_POSSIBLE	The VoP check could not be completed. E.g. because the receiving institution does not support VoP.

There are no reason codes for VoP results. This is different from CoP for GBP payments, where reason codes provide additional context for Close Match and No Match results.

Refer to our step-by-step guide to create an EUR Outgoing Wire TransferWire Transfer A transaction that moves funds between accounts. An incoming wire transfer moves funds from a third-party bank account to a Weavr managed account, while an outgoing wire transfer moves funds from a Weavr managed account to a third-party bank account. Wire transfers require the managed account to have an assigned IBAN (for EUR) or sort code and account number (for GBP). with a Verification of Payee check.

How to test

You can test each possible VoP result in the sandbox environment by sending an EUR OWTOWT Outgoing Wire Transfer - a transaction that moves funds from a Weavr managed account to a bank account held at a third-party financial institution. OWTs require the managed account to have an assigned IBAN and the user to complete Strong Customer Authentication. to a designated test IBANIBAN International Bank Account Number - a standardized international bank account identifier. Managed accounts can be assigned an IBAN to enable wire transfers to and from bank accounts outside of Weavr. IBANs are required for EUR accounts and enable SEPA transfers.. See VoP sandbox testing.