Verification of Payee vs Scam-Less
Your bank checks the name. Scam-Less checks the email. Verification of Payee tells you whether a name matches an account. It can’t tell you whether the email asking you to pay that account is genuine.
What your bank’s check does
Since 9 October 2025, banks in the euro area must check the payee’s name against the IBAN before a transfer, free to the payer. UK banks run a similar check, Confirmation of Payee. You get one of four results:
| Result | What it means |
|---|---|
| Match | The name you typed matches the account holder’s name. |
| Close match | Nearly matches. The bank shows you the real name so you can decide. |
| No match | The name doesn’t match the account. Check with the payee before paying. |
| Match not possible | The bank couldn’t check, for example the account is closed or outside the euro payments area. |
What it can’t catch
Accounts in the right name
A fraudster who opens an account in your supplier’s name gets a “match”.
Hacked supplier mailboxes
The request comes from your real supplier’s address, so nothing looks wrong.
Payments after a warning
It never blocks a payment. Pay after a “no match” and the loss is usually yours.
Payment runs
Businesses can switch the check off for bulk files, and repeat payees are often not re-checked.
Side by side
| Your bank’s name check | Scam-Less | |
|---|---|---|
| What it looks at | The payee name against the account | The email: sender, reply address, website age, bank account, invoice PDF, wording |
| When it runs | When you add or change a payee in online banking | As soon as the email lands, before anyone opens online banking |
| A fraudster’s account opened in the supplier’s name | Shows “match” | Flags a new account for a known supplier, or a foreign account for an Irish one |
| A hacked supplier mailbox | Can’t see it | Checks where replies go and whether the account has changed |
| An edited invoice PDF | Can’t see it | Spots PDFs changed after they were created |
| What happens next | You decide; it never blocks a payment | A clear verdict: safe to pay, check first, or hold payment |
| Cost | Free from your bank | Free for founding firms until 31 December; then from €99 a month |
The safe routine for a “new bank details” email
- Forward it to check@scam-less.com and wait for the answer, usually under a minute.
- If it says hold or check first, ring the supplier on a number you already have, never one from the email.
- When you pay, keep your bank’s check on and stop at anything other than a match.
Add the check your bank can’t do
Enter your work email and everyone at your firm can forward suspicious emails straight away. No card, nothing to install.
Questions
Does Verification of Payee stop invoice redirection fraud?
Not on its own. It confirms the name matches the account. If a fraudster opens an account in your supplier’s name, or emails from your supplier’s hacked mailbox, the check can still say “match”.
Do I still need my bank’s check if I use Scam-Less?
Yes. Use both: forward the email to Scam-Less first, then pay with your bank’s check on and stop at anything other than a match.
Sources: AIB, Verification of Payee for business; Web60, Verification of Payee for Irish businesses.