Examples where a single small mistake when entering an account number caused money not to reach the intended recipient can be multiplied. In recent years, Polish media discussed large sums that ended up in the wrong account. Such cases should be fewer, or even eliminated entirely, thanks to the solution the Ministry of Finance is developing.
Verification of the transfer recipient
The Ministry of Finance wants to introduce a system that will require providing the account holder’s details to whom the transfer is destined. The draft law the ministry is working on introduces the so‑called Verification of Payee (VOP) mechanism. Until now, entering a wrong first or last name of the account holder did not prevent the money from being transferred. Banks focused only on the account number. If it was entered correctly, there was no tool to stop the transfer. Now it will be different. Banking institutions will have to implement procedures that require them to verify whether the person entered as the recipient is the actual account owner. If not, the person making the transfer will be informed. This will not automatically stop the transfer, but the executor will have to make the final decision whether to send the money. Verification will allow small spelling errors, such as typos or missing Polish diacritics. In that case, the person making the transfer will also be informed of the discrepancy, but the alert will carry less weight than when incorrect account holder data is entered.
Banking institutions will need to implement changes
Errors have occurred and will probably continue, because those who do nothing do not make mistakes. However, all measures that reduce the frequency of transfer errors are worth their weight in gold. To achieve this, banks must do significant work to adapt their programs to the new requirements. The bank will be responsible for first checking the accuracy of recipient data, and if an irregularity is detected, informing the sender and then deciding whether the transfer will continue or be halted.
The regulation aims to protect not only against human errors but also against money‑scam attempts. It concerns APP (Authorized Push Payment) fraud, where scammers manipulate victims into transferring money to their account. In such situations, it should be harder to commit this type of crime when the account holder’s data is false. Of course, it will not eliminate cases where bank accounts are set up with fictitious or stolen data, and unfortunately such situations still occur.
It should be noted that the verification system is not new. Similar measures are in place in euro‑zone countries. They were introduced in October 2025.
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