Verification of Payee (VoP) - live now at Narvi
From this moment on, your transfers may include a name-check. Because October 9th is more than a date - it’s your new threshold for safer payments.
What is Verification of Payee (VoP)?
Verification of Payee (VoP) is a name-matching service built to reduce misdirected payments and fraud. When you initiate a transfer, Narvi double-checks whether the recipient name you’ve entered matches the name tied to that account. If they match - great, move ahead. If not, you’re given alerts and options.It’s part of Narvi’s upgraded security layer to bring peace of mind.Why we're doing this (and why now)?Errors in recipient names or deliberate scams continue to cost people time and money. Adding VoP is our way of stepping up security. With 9.10 (October 9th) looming - a date many financial infrastructures acknowledge as a milestone - we want you ahead of the curve. That’s why we’re turning this on now - so you’re already operating under it before the full shift.How VoP works at Narvi:• You enter the recipient’s IBAN + name• Narvi checks the name with the recipient bank.
• We present one of four possible outcomes.
• You decide whether to proceed or correct details.
Possible outcomes & what you should do
Before sending your payment, you will receive one of these results:
Match
The entered name matches the recipient's details exactly.
It is safe to proceed with the transaction.
It is safe to proceed with the transaction.
Close Match
The entered name has a minor discrepancy, such as a typo or abbreviation.
Confirm the details and double-check spelling.
Confirm the details and double-check spelling.
No Match
The entered name does not match the recipient's details.
Stop and verify the recipient’s information before continuing.
Stop and verify the recipient’s information before continuing.
Could Not Confirm
The bank system is unavailable, or the account may be closed.
Exercise caution and manually verify all details before proceeding.
Exercise caution and manually verify all details before proceeding.
If you proceed after a "No match", Narvi may not be able to recover funds if things go wrong —- so always double-check.
When / where VoP is applied?
• It’s active for EUR transfers within the SEPA / EU zone• Applies to all recipients• In some cases, name checking can’t be done (system down, bank limitations) - we’ll show “Could not confirm”You can still send even if the match isn't perfect, but you'll be accepting greater responsibility for the outcome.Quick tipsFor Senders:
• Use the exact name as on the recipient’s bank account (including middle names/spelling)
• If flagged “No match”, pause. Contact the recipient to clarify
• Review your saved payees now - correct names before you need to transact For Recipients (you might be on the receiving end):
• When others send to your Narvi or external EUR account, their bank might run a name check
• Your name is only shown when there’s a "Match" or "Close Match"
• If “No match” is flagged, your name won’t appear - prompting the sender to double-check with you
• Use the exact name as on the recipient’s bank account (including middle names/spelling)
• If flagged “No match”, pause. Contact the recipient to clarify
• Review your saved payees now - correct names before you need to transact For Recipients (you might be on the receiving end):
• When others send to your Narvi or external EUR account, their bank might run a name check
• Your name is only shown when there’s a "Match" or "Close Match"
• If “No match” is flagged, your name won’t appear - prompting the sender to double-check with you
FAQs / Common Scenarios
That’s a “Close match” — you’ll get a warning, and can verify before proceeding.
Pause and confirm the exact name with your recipient. Sometimes name variations, abbreviations, or formatting cause mismatches.
Only send if you’re confident. This result often means system constraints; you carry more risk if you proceed.
Not always. VoP is primarily used in the EUR / SEPA context right now. We’re working on expanding where applicable.
What We Offer
Narvi Payments Oy Ab is an Authorized Electronic Money Institution (EMI). Narvi’s EMI license is granted by the Finnish Financial Supervisory Authority (FIN FSA) with the registration number 3190214-6. Narvi’s license is passportised to all European Union countries.
Built and regulated in Finland© 2025 Narvi. All Rights Reserved.
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