New feature: Verification of Payee (VoP) for transfers

In accordance with the latest Regulation (EU) 2024/886, ProCredit Bank is launching a new feature in the Internet Banking for all customers.

Starting from 08 October 2025, transactions between the countries of EU, which are in the eurozone will include the Verification of Payee (VoP) ality. This enhancement helps ensure that funds are sent to the correct recipient by verifying their details in real time, allowing for corrections before the transaction is finalized.

To use the verification feature, simply enter the recipient’s full name or company name in the designated field. The screen will automatically verify and display the result based on the match between the recipient information provided and the IBAN:

• Full Match – “Beneficiary’s name verified”
• Partial Match – “Correct beneficiary’s name is…”
• No Match – “Beneficiary’s name doesn’t match”
• Verification Not Possible – “The beneficiary verification service check is not possible”

If you decide, you will still have the option to proceed with the transaction, regardless of the verification result. Please be mindful - your attention is key to secure and successful payments.

ProCredit Bank adds an extra layer of trust and protection to your digital payments with Verification of Payee, helping to prevent misdirected transfers and reduce the risk of fraud-related financial losses.