Securing SEPA Payments: The “Verification of Payee” service becomes mandatory in October 2025

This system checks, at the time of payment initiation, whether the provided IBAN matches the beneficiary’s identifier (name or company ID code). It will apply to both standard SEPA Credit Transfers (SCT) and Instant Credit Transfers (SCT inst).

This new regulatory requirement is part of the European regulation on instant payments, adopted in April 2024, which aims to make instant transfers the preferred euros payment method in the SEPA zone. VoP is one of the four pillars of this regulation and marks a significant step forward in combating fraud and errors in payments.

Download the below MEMO sheet to get the essentials of VoP in just 3 minutes:

With the implementation of VoP, SEPA payments are entering a new era of transparency and reliability. Crédit Agricole CIB, a committed player in secure innovation for its clients, is ready to support businesses through this structural change.

Are you affected and want to know more? Please contact your account manager in the Cash Management teams at Crédit Agricole CIB.