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    Do banks in Finland check the payee's name before a transfer?

    A new check that helps stop scams and typing errors.

    Answered at: Checked at:

    Short answer

    Yes. Finance Finland explains that from October 2025 the EU instant payments regulation obliges the payer's bank to verify that the payee's IBAN and name match, and to alert the payer to a possible mismatch. If you see a warning, stop and check the details with the person or business you are paying before you continue.

    Practical: communication, money, services

    Why

    1. Finance Finland says the payee check started in October 2025.
    2. The check compares the IBAN with the payee's name.
    3. The payer is alerted if the details do not match.

    Details

    The check can help against invoice scams where criminals change the account number on a real-looking bill.

    Tip

    Type the payee's name exactly as on the invoice. Small differences can trigger a warning.

    What may differ

    The way the warning is shown depends on your bank's app or online bank.

    Common misconception

    Banks always block a transfer if the name is wrong.

    What actually happens

    The bank warns you, but you decide whether to send the payment.

    People also ask

    • What are instant payments in Finland?
    • What is a safe account scam?
    • How much money do people in Finland lose to online scams?

    Sources

    This answer is for reference only. Banks set their own terms, so check the details with the bank before you act.

    Practical: communication, money, services
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