When VoP is carried out, the IBAN and payee name which you have provided are submitted for verification via the European Payments Council (EPC) VoP scheme and one of the following responses will be returned:
- Match – The name and IBAN correspond exactly.*
- Close match – The name is similar to the account holder’s name, but not identical.
- No match – The name does not correspond to the IBAN provided.
- Verification not possible – The check could not be completed due to lack of data (e.g. the IBAN does not correspond to a bank account that is part of the EPC VoP scheme).
- Not validated – The request fails to respond (e.g. due to an issue with the EPC VoP scheme or with the system).
* In certain cases, our Operations team may process a payment on your behalf without requiring you to proactively authorise the payment following display of the Verification of Payee (VoP) result – but only when the payee name is an exact match. Convera considers that these payments are conditionally pre-approved by you, i.e. that you authorise us to process the payment if the VoP result is an exact match. This applies, notably, to payment requests made by telephone or email and to payment requests sent to us through API, online or SFTP/File upload, where requiring your intervention after each VoP result would risk creating delays and undue complexity for you.For any further questions on this, please contact your account representative or our customer support team.