Verification of Payee (VoP)

The Verification of Payee (VoP) feature ensures that account names provided in payments match the registered account details. This helps protect against misdirected payments and fraud.

VoP is available across different payout types - individual payouts, pay runs, bulk payouts - and also beneficiaries and rules with slightly different behaviours in each scenario.

Messaging

Important: You can choose to authorise a payment for any status (Match, Close Match, No Match, or Unable to Verify) - but doing so means you accept the associated risk. NoFrixion will not be responsible for any losses.

Match

The account name and details you provided matches the registered account holder’s details at the receiving bank. This is the ideal outcome and indicates the highest confidence that the funds will go to the intended payee. You can proceed confidently.

Close Match

The name you entered is not an exact match, but it’s very close (e.g. “John Smith” vs. “Jon Smith Ltd” or “ACME Ltd” vs. “ACME Limited”). This often happens due to spelling differences, abbreviations, or formatting.

It’s advisable to double-check with the payee to confirm account details are correct before continuing; the payment could still go to the correct account, but there’s some uncertainty. NoFrixion will not be responsible for any losses.

No Match

The details you provided do not match the account holder’s registered name or details. This may indicate a data-entry error, or it could be fraud.

It's important to confirm the details directly with the payee before continuing; proceeding could mean funds are lost or sent to the wrong person. NoFrixion will not be responsible for any losses.

Unable to Verify

The system could not confirm a match. Possible reasons:

Receiving bank does not yet support VoP.
Temporary technical issue.
Insufficient or ambiguous information provided.

Confirm account details with the payee before proceeding; could be benign (technical issue), but also carries risk if the details are wrong. NoFrixion will not be responsible for any losses.

Individual Payouts

You cannot authorise a payout until account verification is completed.

Once verification is complete, you will be shown the status (Match, Close Match, No Match, or Unable to Verify). You can still choose to authorise the payment under any status but doing so means you take on the associated risk. NoFrixion will not be responsible for any losses.

Pay Runs and Bulk Payouts

For bulk payments, regulation allows the payer to opt out of Verification of Payee (VoP). If you prefer to opt in, you can verify the accounts at either of two stages:

Import stage (after uploading the CSV file), or
Authorisation stage (before approving the payments).

Verification results are shown clearly in the import view, so you can decide whether to proceed, correct, or remove entries:

If you skip verification at the import stage, you will be prompted to verify again at authorisation. Note: if verification is completed during import, it does not need to be repeated at authorisation.

Important: You can authorise payouts in a pay run under any status (Match, Close Match, No Match, or Unable to Verify), but doing so means you accept the associated risk. NoFrixion will not be responsible for any losses.

Beneficiaries

VoP for beneficiaries follows the same design as payouts during setup.

When adding or updating a beneficiary, their account details will be verified and a status will be returned:

Match - the account details match with the registered account.
Close Match - details are similar but not identical; confirm with the beneficiary before proceeding.
No Match - details do not match; strongly recommended not to proceed without confirming.
Unable to Verify - verification could not be completed (e.g. technical issue or unsupported institution).

If you choose to proceed, the selected beneficiary can still be saved to your account regardless of status. Important: saving a beneficiary with Close Match, No Match, or Unable to Verify means you accept the associated risk. NoFrixion will not be responsible for any losses.

Verifying a beneficiary ensures that payees are verified as early as possible in the payment flow, helping to prevent misdirected or fraudulent payouts.

Rules

VoP for rules follows the same design as payouts when adding a new destination during setup.

When adding a new destination, the account details will be verified and a status will be returned:

Match - the account details match with the registered account.
Close Match - details are similar but not identical; confirm with the beneficiary before proceeding.
No Match - details do not match; strongly recommended not to proceed without confirming.
Unable to Verify - verification could not be completed (e.g. technical issue or unsupported institution).

The destination account can still be added to your rule regardless of status. Important: adding a new destination account with Close Match, No Match, or Unable to Verify means you accept the associated risk. NoFrixion will not be responsible for any losses.