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Epiktetos
Epiktetos
10 months ago

Currently: depends on the recipient’s bank. Future: Yes.

So far, there has been no mandatory name matching for IBAN transfers, so only the IBAN had to fit. However, a mandatory name matching is currently being introduced throughout the EU thanks to the new regulation. Numerous banks already carry out the balancing (e.g. N26). The way this balance looks practically differs depending on the bank, so obvious typing errors (Marko Müller instead of Marco Müller) etc. go through, but definitely not a “Mickey Mouse”.

So it currently depends on whether the recipient bank has already implemented the name matching. In the medium term, however, this will be the case for each bank (must be).

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AnnaStark
AnnaStark
10 months ago

IBAN is enough, as a recipient you can specify Micky Mouse, nevertheless comes up properly.

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Epiktetos
Epiktetos
10 months ago
Reply to  AnnaStark

A transfer to “Mickey Mouse” would be rejected, among other things, by N26, who have already implemented the mandatory name matching agreed in 2023 in the future.

Not every bank already carries out a name matching, as the corresponding regulation is not yet legally binding (and there will be a transitional period for implementation after notice), but there are also some other banks that already carry out the settlement. At the latest in a few months, a transfer to Mickey Mouse would fail at all banks.

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AnnaStark
AnnaStark
10 months ago
Reply to  Epiktetos

in the SPK will still work

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NaIchHalt09
NaIchHalt09
10 months ago

No, the recipient must also be specified.

0
AnnaStark
AnnaStark
10 months ago
Reply to  NaIchHalt09

FALSCH, only IBAN must

0
NaIchHalt09
NaIchHalt09
10 months ago
Reply to  AnnaStark

So I can make a transfer to Ossama Bin Laden with existing IBAN and booking text “Anschlag in München”?

0
kris73
kris73
10 months ago
Reply to  NaIchHalt09

The name is a can, it only has to be specified the IBAN

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Mungukun
Mungukun
10 months ago
Reply to  kris73

The name is a can, it only has to be specified the IBAN

In November 2023, the EU decided that the name matching will be necessary again. There is still a transitional period, but some banks have already implemented the future directive today and re-establish the names. Because soon they have to:

https://www.consilium.europa.eu/press/press-releases/2023/11/07/instant-payments-council-and-parliament-reach-provisional-agreement/

According to the new rules, immediate payment service providers must make a comparison of the IBAN of the payee with the name of the payee, in order to alert the payer to possible errors or fraud before a transaction. This requirement also applies to normal transfers.

In a few months, all banks have to make a name match again.

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kreuzundquerxxx
kreuzundquerxxx
10 months ago
Reply to  NaIchHalt09

Objection! Since the introduction of SEPA, there is no more account call check. If the IBAN is correct, the money always arrives no matter what name is in the recipient field.

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Mungukun
Mungukun
10 months ago
Reply to  kreuzundquerxxx

Objection! Since the introduction of SEPA, there is no more account call check. If the IBAN is correct, the money always arrives no matter what name is in the recipient field.

Promise! In November 2023, the EU decided that the name matching will be necessary again. There is still a transitional period, but some banks have already implemented the future directive today and re-establish the names. Because soon they have to:

https://www.consilium.europa.eu/press/press-releases/2023/11/07/instant-payments-council-and-parliament-reach-provisional-agreement/

According to the new rules, immediate payment service providers must make a comparison of the IBAN of the payee with the name of the payee, in order to alert the payer to possible errors or fraud before a transaction. This requirement also applies to normal transfers.

2
kreuzundquerxxx
kreuzundquerxxx
10 months ago

Cool! Thank you. I didn’t get that progress.

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AnnaStark
AnnaStark
10 months ago

not all, because it is not yet legally established.

https://gemini.google.com/app/821d850cdaf1e714

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NaIchHalt09
NaIchHalt09
10 months ago

Banks use internal security mechanisms that filter out such things and at least transfer them to manual testing.

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AnnaStark
AnnaStark
10 months ago

Theoretically yes, comes to you

0