You receive a euro invoice from a familiar supplier. The message says it has changed its account. You enter the company name and the new IBAN, and your bank’s app warns that the details do not match. At that point, the alert does not tell you with certainty that this is fraud. But it does tell you something important enough: you can no longer treat the payment as routine.
The key rule is this: a name–IBAN alert does not make the decision for you, but it tells you to change your verification channel. Do not reply to the email containing the invoice or call the number in that message. Look for the IBAN in the contract or the supplier’s portal, or contact the company using a number you already had.
From 9 January 2027, payment service providers in Romania will have to offer payee verification free of charge for euro credit transfers. The check is carried out after the payee details are entered and before the payment is authorised. It applies to euro credit transfers, not only instant transfers. EUR-Lex
What changes in 2027 — and what does not
| When | What changes | What it means for customers |
|---|---|---|
| 9 January 2027 | Payee verification becomes mandatory and free for euro credit transfers. For most providers, this is also the deadline for receiving instant euro transfers. | You may see a result on whether the payee name matches the account before authorising payment. This does not generally mean that your bank must already allow you to send euros instantly. |
| 9 April 2027 | For payment institutions and electronic money institutions in non-euro countries, the special deadline for receiving instant euro transfers is later. | Do not assume that every type of provider follows the same timetable for receiving instant transfers. |
| 9 July 2027 | This is the general deadline for offering the sending of instant euro transfers. | A bank may be required to offer you the ability to send instant euro transfers, subject to the terms of its service and the applicable infrastructure. |
The European regulation makes a clear distinction between receiving instant transfers, sending instant transfers and payee verification. That is why the claim that “all euro payments become instant from January 2027” is incorrect. To prevent an error or fraud, the decisive element is the check before authorisation; for an urgent payment, speed naturally remains important. EUR-Lex
Decision guide: what to do for each result
1. Match: you can proceed, but do not confuse the data with the payment story
A match indicates that the name you entered corresponds to the available data for the specified account. This is a useful result: it reduces the risk of sending money to an IBAN that clearly belongs to someone else.
But it does not validate the invoice. A criminal may persuade a victim to pay into an account they control and enter the correct name associated with that account. In that case, the check may produce a positive result even though the commercial request is false. If the payment is based on an unexpected IBAN change, confirm the change independently even if there is a match.
2. Close match: treat the difference as a question, not an automatic correction
A close match may result from an abbreviation, a spelling mistake or the use of a trading name rather than the legal name. For companies, the European framework permits the use of the trading or legal name; in certain workflows, other data that unambiguously identify the company may also be used, such as a tax code or a European identifier, if the bank accepts them and has them available. European Commission
The safe action: do not assume that the difference is harmless. Compare the name and IBAN with the contract or the details shown in the supplier’s official portal. If you entered a shortened version of the name, correct the details only after checking them against a known source.
3. No match: stop the payment
This is where the warning has the greatest practical value. The regulation requires the payer to be informed that authorisation may result in money being sent to an account that does not belong to the indicated payee. In the scenario of an invoice with a changed IBAN, this is precisely the signal that can prevent payment to a fraudulently inserted account. EUR-Lex
The safe action in the next two minutes:
- do not press “confirm”;
- do not use the contact details received with the payment request;
- compare the IBAN with a contract, a previously verified invoice or an official portal;
- contact the supplier using a telephone number or address you already knew;
- if the change is not confirmed, keep the message and notify your bank, especially if you have already initiated the payment order.
4. Verification cannot be carried out: do not treat no result as a match
There may be technical situations in which verification is unavailable. The European Commission’s clarifications state that the payer must be informed that the service could not be performed and may nevertheless decide whether to authorise the payment. The specific interface and wording of the message may vary from one bank to another. European Commission
The safe action: for a sensitive payment — a deposit, an invoice with a new IBAN, an urgent request or an unusual amount — act as though you have no security result. Verify the payee separately before authorising the payment.
What the alert can stop — and what it cannot
It can stop: a typing error, an incorrectly copied IBAN or an account substituted on an invoice, where the supplier’s real name does not match the account entered.
It cannot stop on its own: the compromise of a company’s email, telephone impersonation, a fake investment or a payment to an account controlled by a criminal where the victim enters a name that matches that account. The mechanism checks a relationship between payment details; it does not investigate the reason for payment or authenticate the person who requested the money.
This is also why instant payments require more care before confirmation. Once a payment has been executed quickly, the practical window for trying to recover the money narrows. Payee verification does not eliminate risk, but it moves an important signal to before the point at which the decision becomes difficult to reverse.
Romania is not starting from zero, but existing services are not the same thing
For Romanian leu payments, SANB, the Payee Name Display Service, already exists. It is operated within the TRANSFOND infrastructure as an optional service associated with SEPA RON credit-transfer schemes. For individuals, the information displayed is truncated; for companies, part of the name and the legal form are displayed. Availability depends on providers’ participation in the service. TRANSFOND
SANB is a useful point of reference, not evidence that the experience will be identical for euro transfers. The new European verification has a different legal scope: euro credit transfers. In addition, the app design, the steps for correcting details and the way a bank explains a result may differ between providers.
The market is already uneven. For example, ING announced that from 11 December 2025 its customers can receive instant euro transfers. The example shows why the specific direction of the service must be checked: receiving, sending or both. ING
Two clarifications that avoid confusion
Instant does not automatically mean free. The fee for an instant euro transfer cannot be higher than the fee for a comparable ordinary euro credit transfer. Payee verification is free, but the transfer itself may be charged if the comparable ordinary option is charged. EUR-Lex
A leu account does not automatically make every payment order an instant transfer that cannot be made in the evening. Until 9 June 2028, the regulation permits a limited derogation for certain instant euro transfers initiated from accounts in the national currency, outside the hours in which the provider sends or receives non-instant euro transfers for those accounts. This is a technical and conditional rule, not a general rule about all payments involving leu-to-euro conversion. European Commission
To complement the information above, see also How much money is guaranteed in a Romanian bank: the €100,000 rule explained, an article that examines an aspect directly related to this subject.
The final rule
Do not expect your bank to tell you whether an invoice is genuine: name–IBAN verification cannot do that. But use the alert for exactly what it is: a moment to stop acting automatically. If the details do not add up, do not rush the payment; change the verification channel.
Frequently asked questions
From 9 January 2027, must all banks in Romania allow instant euro transfers to be sent?
No. For most providers, 9 January 2027 is the deadline for receiving instant euro transfers and for payee verification. The general deadline for sending instant euro transfers is 9 July 2027. Payment institutions and electronic money institutions have a special deadline of 9 April 2027 for receiving instant transfers.
Does the bank automatically block the payment if the name does not match the IBAN?
Not necessarily. Verification is provided before authorisation, and the final decision to proceed may remain with the payer. For an invoice, a deposit or an IBAN change, a mismatch should be treated as a reason to stop and verify independently.
Does a match between the name and IBAN mean the invoice is genuine?
No. A match confirms only consistency between the entered payee details and the information available for the account. It does not verify the authenticity of the invoice, email, telephone call or commercial reason for the payment.
What should I do if I entered an abbreviated company name and receive a close match?
Do not treat the alert as a mere spelling issue until you have checked it. Compare the legal or trading name and the IBAN with a contract, the company’s official portal or a previously known contact. Only then correct or confirm the payment.
Will instant euro transfers be free?
Not necessarily. The regulation requires an instant euro transfer to cost no more than a comparable ordinary euro credit transfer. Payee verification, however, must be provided free of charge.
Is SANB for leu payments the same service as European payee verification?
No. SANB is an optional service associated with SEPA RON schemes and depends on providers’ participation. The European obligation introduced by Regulation (EU) 2024/886 concerns payee verification for euro credit transfers.
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