4 September 2025, 09:30
Verification of the beneficiary's name is coming to Isabel 6
Banks and Isabel will soon start introducing “beneficiary name verification” for all SEPA transfers, also known as IBAN name verification. This verification will alert you if the beneficiary's name and account number do not match. It gives you more confidence and assurance that your money is transferred to the correct beneficiary, increases efficiency and helps combat certain types of transfer fraud. It will be introduced in phases leading up to its legal launch on 9 October 2025. We will go into more detail about what this means for Isabel 6 users.