Banca d'Italia provides information on the verification of payee (VoP) for standard and instant bank transfers

20 October 2025

The 'Verification of Payee (VoP)' became mandatory for both standard and instant bank transfers on 9 October 2025. This system verifies the correspondence between the IBAN and the beneficiary's name (or identifier). This new requirement is designed to reduce fraud and errors by providing a real-time outcome (match, mismatch, partial match, or impossible to verify) and allowing the payer to confirm the payment or not, according to the outcome.

These obligations also apply to Banca d'Italia as a payment service provider for public administrations. Specific information regarding bank transfers to public administrations is provided at https://www.bancaditalia.it/servizi-cittadino/.

For more information on instant bank transfers, please visit: https://www.bancaditalia.it/compiti/sispaga-mercati/comitato-pagamenti-italia/bonifici-istantanei/index.html