---
term: "Verification of payee"
category: "Agent payments"
url: https://agenticopenfinance.com/glossary/verification-of-payee
source: AgenticOpenFinance glossary
---

# Verification of payee

> A check, before a credit transfer, that the payee's name matches the account the money will go to.

Verification of payee is a check, made before a credit transfer is executed, that the name of the intended beneficiary matches the account the money will be sent to. Under the EU Instant Payments Regulation, euro-area payment providers must let clients verify the intended beneficiary, and the Commission's timeline extends this to providers outside the euro area for euro payments. When an agent prepares a payment, the result of the check should be shown to the customer, not only to the software.

Related terms: [Instant payment](https://agenticopenfinance.com/glossary/instant-payment.md), [Credit transfer](https://agenticopenfinance.com/glossary/credit-transfer.md), [Confirmation of Payee](https://agenticopenfinance.com/glossary/confirmation-of-payee.md), [APP fraud reimbursement](https://agenticopenfinance.com/glossary/app-fraud-reimbursement.md)