What’s changing?
From October 2025, a new EU regulation requires all financial institutions to perform a name check before sending or receiving SEPA and SEPA Instant payments. SEPA (Single Euro Payments Area) includes euro transfers between EU and EEA countries, as well as a few others like Switzerland and the UK.
Holvi will check whether the recipient’s name matches the account number (IBAN). If there’s a mismatch, we’ll show a message – so you know before the payment is made.
This applies to:
- Sending money from your Holvi account
- Receiving money into your Holvi account (especially via invoice)
Why this matters
This change is part of EU Regulation 2024/0886, designed to help prevent:
- Fraud
- Typos or misdirected payments
- Unclear recipient details
It’s not just Holvi – this affects all banks and payment providers in Europe.
What you’ll see
When sending a bank transfer (within the EU):
We’ll check if the recipient’s name matches the account number (IBAN).
If there’s a mismatch, we’ll show a message:
- 🟢 Match – name and IBAN align
- 🟡 Edit recipient name – likely a typo; we’ll suggest the correct name
- 🔴 Check recipient details – names do not align
- ⚪ Payee verification failed – the recipient bank didn’t return a result
You can still send the payment in all cases – but the check helps you decide.
This applies to:
- SEPA and SEPA Instant euro transfers
- Batch payments (PAIN files) for corporate customers who opt in
It does not apply to:
- Card payments
- Moving money between your own Holvi accounts
- Payments outside the EU/SEPA area
When receiving a bank transfer from a customer (e.g. via invoice):
Your customer’s bank will check if the recipient’s name (yours) matches the account details. If your invoice shows a name that doesn’t match your account, they may see a warning. That warning may cause confusion or delay payment.
This only applies to euro transfers from EU/SEPA banks – not to payments via:
- Holvi online store
- Card payments
- International (non-SEPA) transfers
How to show the correct name on your invoice
To help your clients pay you without friction:
- Make sure your invoice shows your verified account name
- 🇩🇪 Germany
- Sole traders / freelancers (Einzelunternehmen): Usually your personal (legal) name e.g. John Smith, not a brand or business name
- GmbH, UG, e.K.: Always the official company name registered in the Handelsregister
- 🇫🇮 Finland
- Sole traders: Typically your registered trade name
- Companies / associations: Your official name as registered with Finnish authorities
- 🇩🇪 Germany
- You’ll find this in Holvi under Account settings or directly in the invoice editor
- If you need to update this name, it may require a verification step depending on your business type – we'll guide you through it in Holvi.
FAQ
Q: Will Holvi block my payments if the name doesn’t match?
No. Holvi does not block your payment. We’ll show a message and let you decide how to proceed.
Q: What if my customer sees a warning when trying to pay me?
This may happen if the name on your invoice doesn’t match your actual account name. Make sure your invoice reflects your verified name.
Q: Where do I find my official Holvi name?
Go to Settings → Account details or open the invoice editor. We’ll display the name linked to your account.
Q: Will this affect incoming payments via e-invoice or external platforms?
Yes, the name check is triggered based on what the payer’s bank sees. You should use your correct name in all payment-related documentation.
Q: I use batch payments – will these be checked too?
Yes, if you’re a corporate customer and have opted into PAIN file support, name checks apply there too. This is voluntary though. You may opt out of name checks if you do not wish to add this step to your payments flow. If this applies to you, we’ll provide technical guidance separately.
Q: I’m a freelancer – is that different from a sole trader?
No, not in this context. If you’re registered as a sole trader in Germany, your verified name is still your personal name – even if you operate under a different business name publicly.
Q: I run a GmbH / UG / e.K. in Germany. What name is used?
We’ll use your official registered company name from the Handelsregister. This will be checked against the account details during a name check.
Q: What if I’m doing a bank transfer outside of the EU?
Name checks only apply to euro payments within the EU/SEPA area. Transfers outside of this region are not affected.
Q: Does this affect payments made with cards?
No. Card payments are not affected by name checks. The regulation only applies to bank transfers (SEPA and SEPA Instant).
Q: Does this affect Holvi Online Store payments?
No. Online store and checkout payments are not affected. Name checks only apply to euro bank transfers – not card payments or online store sales.