Starting October 9, 2025, Paymium will implement beneficiary verification in accordance with European regulations aimed at enhancing the security of SEPA transfers.
This system ensures that the beneficiary’s name matches the IBAN provided before a transfer is executed.
Why is this verification necessary?
It is designed to reduce:
- Input errors (incorrect IBAN or name)
- Fraud risks, particularly in cases where an IBAN has been maliciously altered
How does it work?
When a transfer is initiated, Paymium contacts the beneficiary’s bank to check the match between:
- The IBAN, and
- The first and last name (for individuals) or the company name (for businesses)
Depending on the outcome, several responses are possible:
- Match: The information matches, and the transfer proceeds normally.
- Partial Match: The information is similar but not identical; you will be asked to check it.
- Mismatch: The data does not match; this could indicate an error or a potential fraud attempt.
- Verification Unavailable: The check could not be completed (closed account, incorrect data…).
What you can do
Before the service is implemented, ensure that your beneficiaries’ names and IBANs match exactly what is shown on their bank details.
For example:
- Replace “Mom” with “Sophie MARTIN”
- Use “SAS Martin & Fils” instead of “Electrician”
Good to know
- This service is automatic and free of charge.
- It will apply to all SEPA transfers made through Paymium.
- In case of a mismatch, you will still have the option to approve or cancel the transfer.
