Tag: Verification of Payee
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IBAN Verification and October EU Changes: What Changes This Month
VoP Verification of Payee: What Changes for Euro Transfers As October arrives, a wave of EU-wide updates takes effect, with the Verification of Payee (VoP) sitting at the center of banking changes. From 9 October, banks and savings banks across the euro area must compare the recipient’s name with the IBAN before executing a euro…
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VoP IBAN Verification and October EU Regulatory Updates
October brings a mix of EU-wide banking rules, digital health measures, and seasonal adjustments that touch households and businesses alike. Foremost among them is the introduction of Verification of Payee (VoP) for euro transfers, a move intended to reduce errors and curb fraud. Alongside this, banks must ensure real-time euro transfers can be sent free…
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October 2025: Banking Rules and EU Updates
What’s changing in October: Banking, timekeeping, and EU updates October brings a cluster of practical updates for consumers, workers, and businesses across Europe. From a new recipient verification system for euro transfers to daylight saving time, digital health records, and energy metering, here is what you need to know to navigate the month. Banking and…