When making transfers, the beneficiary name you enter is automatically checked against the associated bank account. In practice, this control ensures that the beneficiary name and the IBAN provided are consistent.
What are the benefits of this verification?
Increased security: enhanced protection against fraud attempts
Fewer errors: avoid typos or incorrect entries
Peace of mind: your transfers are more likely to reach the intended recipient
What results can appear during a transfer?
Four outcomes can appear for the beneficiary name match:
Full match: the name perfectly matches the information provided by the recipient's account.
Partial match: the name is partially correct. This may be due to a typo, omission, or variation in spelling. Check carefully and confirm with the recipient if unsure.
No match: the name does not match. Verify that you entered the correct recipient and ensure the banking details are accurate before proceeding.
Verification unavailable: the match could not be established (technical error or unavailable information from the recipient's side). In this case, we recommend verifying the information yourself before confirming.
In all cases, you can still validate your transfer. However, if the result is not Exact, we recommend carefully checking the information before confirming.
How to modify an existing beneficiary?
If you need to change the name of an existing beneficiary, please refer to this FAQ article: How do I modify or delete a beneficiary?