🔍 What is VoP?
Verification of Payee (VoP) is a security mechanism that checks whether the beneficiary name entered during a bank transfer matches the provided IBAN. This service, made mandatory by Regulation (EU) 2024/886, applies to all SEPA transfers (instant or standard) starting from 9 October 2025.
⚙️ How does VoP work?
- Information entry: The user enters the beneficiary name and IBAN.
- Verification: The sender’s bank queries the beneficiary’s bank.
- Result: A response is displayed within seconds.
- Decision: The user decides whether to proceed with the transfer.
This process is fast and does not impact the user experience.
✅ Understanding VoP responses
- Exact match: The entered name perfectly matches the account holder. The transfer is automatically validated.
- Partial match: The name is similar but not identical. The user decides whether to proceed.
- No match: The name does not match. An alert message is displayed.
Verification failed: The check could not be completed (technical issue, missing data, etc.).
📌 Why is VoP important?
- Regulatory compliance: Mandatory from October 2025.
- Enhanced security: Reduces the risk of fraud and errors.
- Smoother payments: Fewer blocks or delays.
Improved user experience: Less confusion, fewer support tickets.
🌟 Key benefits
- 🔐 Enhanced security: Lower risk of fraud.
- 🤝 Trust ensured: Funds reach the correct recipient.
⚡ Simplified experience: Fast and transparent verification.
❓ FAQ
Who is Lemonway and why should its name be entered as the beneficiary?
Lemonway is a payment institution authorized in France and supervised by the ACPR (Banque de France). It secures transactions and ensures regulatory compliance. Therefore, it is essential to enter “Lemonway” as the beneficiary when making transfers.
Do I need to change how I make transfers?
No. Continue using the bank details provided by the platform. You simply need to enter “Lemonway” as the beneficiary.
For VIBAN transfers, who should be listed as the beneficiary?
Transfers to VIBAN accounts must list Lemonway as the beneficiary, as the IBAN is registered under its name.