In this FAQ, you will find everything you need to know about ‘verification of the beneficiary's name’. This verification alerts you if the beneficiary's name and account number do not match and is offered free of charge. It gives you more confidence and certainty that the money is being transferred to the right beneficiary, increases the efficiency of transfers and helps combat certain types of transfer fraud.
The verification of the beneficiary's name for transfers, also known as the IBAN-name check, alerts you if the beneficiary's name and account number do not match. It gives you more confidence and certainty that the money is being transferred to the right beneficiary, increases the efficiency of transfers and helps combat certain types of transfer fraud. It is therefore an important new tool for ensuring the reliability and security of financial transactions.
Firstly, the verification gives you greater confidence that your money will reach the correct beneficiary.
Since the bank performs the check automatically, you don't waste any time and errors are avoided. All of this contributes to the efficiency of transfers.
In addition, verification helps combat forms of transfer fraud, such as invoice fraud, which increases security.
When you enter a transfer order, your bank verifies with the beneficiary's bank that the account number (IBAN) and the name of the beneficiary match. As a customer, you do not need to take any additional steps for this, as it happens automatically.
If the name and account number do not match (completely), your bank will notify you.
After receiving a notification, you decide whether to proceed with the transfer with or without changes. In this respect, nothing changes and, as is already the case today, you are responsible for the transfers you make. This notification serves as a warning. If the details do not match (completely), we recommend to always check the name of the beneficiary to avoid fraud and incorrect transfers.
The name you entered matches the name of the beneficiary.
The name you entered almost matches the name of the beneficiary. For example, you might have made a typo or the name you entered is slightly different from the correct name. In that case, the bank will always report the registered name of the beneficiary.
The name entered does not match the name of the beneficiary. If you decide to continue without making any changes, the amount may end up with the wrong beneficiary. If the beneficiary is a legal entity, the bank will also report the registered name in this case.
In exceptional cases, verification may not be possible due to a technical malfunction or because the beneficiary's bank was unable to respond (in time). Your bank will inform you if this is the case.
If the name entered matches the account, you will see a green checkmark, no message, or a text message such as:
‘The name entered matches the name of the beneficiary’.
If you make a mistake in the name or the name you entered differs slightly from the correct name (e.g. Tom Jansen instead of Tom Janssens), the relevant registered name will be displayed. We recommend that you copy this name. This message is usually displayed in orange and reads, for example:
‘The name you entered almost matches the name of the beneficiary. Did you mean <registered name>?’
When you transfer money to a private individual's account and the name you entered does not match the registered name, for example Pieters instead of Janssens, you will receive an error message. This message is usually displayed in red and reads, for example:
'Caution! This account belongs to a private individual, and the entered name does not match the name of the beneficiary. If you proceed without making changes, the amount could be sent to the wrong beneficiary.'
If you transfer money to a professional account and the name you entered does not match the registered name, for example Banks' Sectorfederation instead of Febelfin, you will receive an error message stating the registered name. We recommend that you use this name. This message is usually displayed in red and reads, for example:
'Caution! The name entered does not match the name of the beneficiary. The name of the beneficiary is <registered name>. If you continue without making any changes, the amount may end up with the wrong beneficiary.’
If verification is not possible, for example due to a technical malfunction or because the beneficiary's bank did not respond (in time), you will for exemple receive the message below. After receiving this message, you can decide whether to continue with or without making changes.
'We cannot check if the name of the beneficiary is correct. If you proceed, the amount could be sent to the wrong beneficiary.'
Check the payment details and, if necessary, contact the beneficiary (please note: contact details on a fraudulent invoice may also be fraudulent).
After receiving a message, you decide whether to continue with or without changes. As is currently the case, you remain responsible for the transfers you make.
Always enter the name of the beneficiary (first and last name) correctly in your list of trusted beneficiaries. If you receive an error message, update the name in your list of trusted beneficiaries to avoid this in the future.
For example: Change a transfer to the beneficiary “dad” to your father's official name. If you do not do this, you will continue to receive error messages.
When verifying the name of the beneficiary, only the name of a private individual is shown if the payer has made a small mistake in the name (e.g. Jansen instead of Janssens) or if the name entered differs slightly from the correct name. To ensure maximum privacy, your name will not be shown in any other case.
All transfers that you enter yourself and that are made in euros, regardless of the banking channel used (online banking, mobile banking, etc.) to accounts at banks in the eurozone.
Payments in other currencies
Payment card payments
When you do not enter the account number and name of the beneficiary yourself, for example when scanning a QR code via Payconiq/Wero
Direct debits
A European payment regulation (2024/886) provides the legal framework. To protect you as much as possible against fraud, 16 Belgian banks (Argenta Spaarbank, Arkéa Direct Bank/Keytrade Bank, Bank Van Breda, Bank Nagelmackers, Banque CPH, Belfius Bank, Beobank, BNP Paribas Fortis, CBC Banque, Crelan, Delen Private Bank, Europabank, ING België, KBC Bank, MeDirect en vdk Bank) go a step further than this legal framework requires:
Legal entities: in the event of an error, the registered legal name is mentioned (if available)
Private individuals: in the event of an error, it is stated that the beneficiary is a private individual. This serves as an additional warning to the payer if they wish to transfer money to a legal entity (e.g. for an invoice)
Verification is not limited to payment accounts, but also applies to savings accounts
If an account has been closed recently, this is also reported to the payer so that they do not confirm the transfer
For legal entities, both the names registered with their bank and the legal names, abbreviations and trade names registered in the Crossroads Bank for Enterprises (CBE) are taken into account. The latter will be the case by 9 October 2025 at the latest.
When you make a transfer to an account in the name of two account holders, it is sufficient to enter one full name (first name and surname). It is therefore not necessary to enter the names of both beneficiaries.
For private individuals, verification is carried out against the first and last names of all account holders, although you only need to enter one first and last name. In the event of a minor deviation, only the registered name of the account holder whose name was entered will be displayed.
For legal entities, verification is carried out against the legal names registered with the beneficiary's bank, as well as the legal abbreviations and trade names, insofar as these are registered with the bank and, if in Belgium, with the Crossroads Bank for Enterprises (CBE). The latter will be the case by 9 October 2025 at the latest.
No, verification in the context of initiating a transfer is free of charge.
We urge beneficiary legal entities and companies to state their names correctly on invoices, at their bank and in the Crossroads Bank for Enterprises (CBE). It is important to state both legal names, trade names and/or abbreviations on the invoice and to register them with the CBE in order to avoid error messages during transfers as much as possible by the legal start date at the latest. This also ensures that invoices can be paid correctly and that your customers have fewer questions.
Yes, the registered name of your company, with the exception of liberal professions or self-employed persons, will be shown to the payer if the name entered does not match or almost matches.
For transfers in a file, you have the option to opt out of verifying the beneficiary's name.
Your bank will inform you about the terms and conditions for transfers in a file.
This will depend on your bank's processing time and the size of the file.
The bank is legally required to offer verification before authorising transfers. Your bank will inform you whether verification is also offered before the initiation of (a file containing) transfers.
The standard file format Payment Status Report message ISO 20022 XML - “pain.002.001.10”. also contains the verification result (see Febelfin standards for online banking).
Consult your bank to find out if, how and when they offer this.
Consult your accounting software supplier to find out if, how and when this is supported.