We've introduced Verification of Payee (VoP), a new SEPA scheme designed to help you confirm the identity of the account holder before you send a transfer.
This service, required by the EU Instant Payments Regulation (IPR), helps reduce fraud and prevents your payments from going to the wrong account.
How does VoP work?
- You initiate a payment: You enter the recipient's name and IBAN as usual.
- We check the details: Qonto automatically verifies with the recipient's bank to see if the name and account details match.
- You receive the verification result: We'll show you one of four possible outcomes: Match, Close match, No match, or Verification not possible.
- You decide: Based on the VoP result, you can choose whether to proceed with the payment or not. We don't block your payment - we simply provide you with additional information to help you make an informed decision.
⚠️ Important to remember:
- VoP never blocks your payment - it simply provides additional information to help you decide
- You can always choose to proceed with your transfer regardless of the VoP result
- If you're unsure about a result, consider contacting your recipient to confirm their account details before proceeding </aside>
What do the different VoP verification statuses mean?
Understanding your VoP results:
- Match: The recipient's name and IBAN perfectly match their bank records.
- Close Match: There's a small difference or typo in the name (like "Jon" instead of "John"). The account is likely correct, but double-check the spelling.
- No Match: The name and IBAN don't match the bank's records.
💡 Important: This doesn't necessarily mean you have the wrong recipient. For example, if you've always paid "John Doe" but their legal bank account name is "ACME Corporation," you'll see No Match even though it's the correct recipient.
- Verification not possible : We couldn't complete the verification (this may happen more frequently during the initial launch period as not all banks will be ready to respond to VoP requests yet).
Where to find VoP verification?
1. From the main dashboard:
- Go to Business Account > Select Transfers
- Click on Make a transfer button
2. Through transfer options:
- SEPA transfer in euros - for standard and instant transfers
- SEPA bulk transfer in euros - when making up to 400 transfers at once
- SEPA transfer by invoice upload - when uploading invoices for automatic transfer details
3. When selecting beneficiaries:
- The VoP verification will appear when you select any existing beneficiary from your list (as shown in the beneficiary selection screen)
- Or when creating a new beneficiary for a transfer
4. For supplier payments:
- Invoices > Supplier Invoices > To pay > Pay > Payment details
- Invoices > Supplier Invoices > Import invoices > Pay > Payment details
⚠️ Important note: For transfer/reimbursement requests, only the person approving the transfer will see the VoP verification result, not the person making the initial request.
The VoP feature will automatically activate during these payment flows - you don't need to enable it separately.
How can I ensure I'm verified correctly?
Always instruct your payers to enter either your legal name or trade name exactly as it appears in Qonto. Here's how to view or update your trade name:
- Go to Settings → Organization details
- Click on the pencil icon in the Main details section to edit them
- Update your trade name and save the changes