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Use the response as a prompt to check
The EPC's Verification of Payee scheme enables checks involving a payee name and IBAN. Ask your provider how it presents the possible results and what action it recommends for each. Confirm recipient details through an established contact route when something is unexpected. Do not treat a name-check response as a full assessment of the commercial transaction or of whether an invoice itself is genuine and properly approved.
Keep approval separate from data entry
For business payments, record who reviewed a mismatch and what evidence resolved it. Avoid allowing the person under pressure to pay to invent a new beneficiary name simply to obtain a more reassuring screen. Update the supplier record only after confirmation through the organisation's approved process. The objective is a clear decision trail that respects both accurate payment information and the separate responsibility to approve the underlying purchase or supplier relationship.
Hypothetical example
A hypothetical accounts clerk receives a close-name result for a familiar supplier. She calls the established contact using an existing number and confirms the correct beneficiary wording. The supplier record is then updated with evidence, rather than altering the payment field repeatedly until a preferred message appears.
Make it practical.
Use this checklist as you read. Checks are not stored.References & further reading
Background reading — European Payments Council: Verification of Payee ↗Published by Tap Tap Go. Product availability and eligibility vary by programme and market. About our stories.
