Europe tightens bank transfers: all transactions in euros will be checked

From October 2025, European banks will start using a new standard for verifying transfers in euros. Customers will face additional steps when making transactions, and businesses will have to restructure their processes. Find out how the new rules work and who will be affected

Legal advice for Ukrainians

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From October 2025, new standards for bank transfers in euros will come into force in the eurozone countries. Now, for each transaction, the system will verify the recipient's details against their account number. These changes should increase protection for customers and companies, but at the same time will add new complications to everyday payments. This was reported by inpoland.

What is the Verification of Payee system?

The key innovation is the introduction of the Verification of Payee (VoP) mechanism. It works on the principle of ‘signal lights’:

▪️ green — the name and account match completely;

▪️ yellow — there is a similarity, but the customer needs to clarify the details;

▪️ red — the data does not match, and the transfer may be risky.

Even with a red signal, it is possible to send money, but the chance of getting it back in case of an error will be minimal.

Read also: What is the hourly wage in EU countries and how does it differ from Ukraine?

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How this will affect users

For private customers, the new system means fewer errors in transfers and more protection from fraudsters. However, the usual process will be supplemented with additional notifications and confirmation steps.

For businesses, the changes may be even more noticeable: accounting services will have to adapt their internal procedures to the new requirements. This is especially important for companies that make dozens or hundreds of SEPA payments every day.

Read also: How many years does it take to earn enough to buy an apartment in European countries?

When the rules come into force

▪️ From 9 October 2025 — all euro transfers within the eurozone will go through VoP.

▪️ By 9 July 2027 — EU countries with other currencies (e.g. Poland, the Czech Republic, Hungary) will be connected to the system.

▪️ Outside the EU — the UK and Switzerland remain outside the scope of the regulation, and their transfers are not subject to the new rules.

European regulators expect the new system to reduce the number of erroneous payments and also act as a barrier to so-called APP fraud (authorised push transfers, where the victim is persuaded to transfer funds to a ‘secure’ account).

Reminder! Fines in Poland can be a serious problem for Ukrainians if they do not know how to check and pay them. Learn about online and offline verification methods, the consequences of non-payment, and the possibility of appealing fines in 2025.

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