Gill Byrne

So verification of payee or VOP, I think a lot of providers are calling it, is a name matching feature.

So what it'll do is it'll match the name of the payment that you're making to the IBAN.

It'll send a message to the bank of the recipient or of your payee.

And it will check to see if the name that you've input with the payment matches the name held on their bank account.

Right.

And it will come back and it will tell you before you make a payment whether it's a match, so the name has matched, whether the name has not matched, so no match, or whether it's a close or partial match.

So if it's a partial or close match, you'll get the partial or close match response back and it'll tell you what the actual name is on the account.

But in that scenario, the name is completely different.

So it's more than likely what it'll do is it'll come back and it'll say, Joe, that's no match.

And then you have the information and you decide whether you proceed with the payment or not.

You can proceed with the payment.

The person that you're going to pay and verify and validate that the details are correct via a verified source.

So we all know how important that is because we have to remain vigilant.

Exactly.

There definitely is an increase across banks here in Ireland and across Europe in an effort to respond to additional calls.

But in that particular scenario, Joe, your bank isn't going to know if it's outside.

Your bank isn't going to know the name of the payee.

Your bank will tell you, Joe, you need to make sure that the name is correct.

So contact them.

Jamesy.