What is VOP?
VOP (Verification of Payee) is a European name-checking service designed to protect you against fraud by verifying recipient account details before a payment is made within Greece or the Eurozone. When you set up a new payee or make changes to an existing one, the VOP service checks that the recipient’s name matches the IBAN held by the recipient’s bank.
Your data security
Banks and payment service providers confirm that new payment instructions entered by you match with the intended recipient’s details by securely sharing information with each other. The VOP process includes strict security measures, and all participating institutions follow European regulatory standards.
How it works
When you set up a new payment, you provide the IBAN and the name of the person or business you intend to pay. We check this information against the data held by the recipient’s bank and provide you with a verification response. This check happens in real time (2–5 seconds) before the payment is completed.
What the different responses mean
Match – The details you entered match exactly with the details used in the beneficiary’s bank account.
All the details are correct, and you can proceed with confidence.Close Match – The beneficiary name you’ve provided doesn’t exactly match the name used in their bank account, but it is similar.
If the name has minor differences (such as spelling variations), we will advise you to double-check the details of the payee. If you continue with your payment, you accept the risk that if the payment goes to the wrong account, we may not be able to recover the money.No Match – The beneficiary name you’ve provided does not match the name used in their bank account.
You need to contact the person or business you are trying to pay to confirm their details. If you continue without updating the information, you accept the risk that if the payment goes to the wrong account, we may not be able to recover it.Not Possible – The verification could not be completed (e.g., technical issue, inactive account, or the recipient’s bank does not yet support VOP).
You can try again later or confirm the payment details directly with the beneficiary.Invalid IBAN – The IBAN you entered is not valid.
Please check the IBAN and enter it again.Other responses – You may also see other responses such as "verification type not possible" or "technical issue". In these cases, double-check the details with the beneficiary before proceeding.