Which transfers are affected?

VoP is mandatory for euro transfers initiated electronically or requested in person at a bank branch. Only TUP payments and payments initiated by letter, fax, or e-mail do not benefit from the additional security that VoP provides. Professional and institutional customers have the option to "opt out" of VoP in the case of multiple transfers submitted via file.

VoP is mandatory for euro transfers between payment accounts at banks in the eurozone starting October 9, 2025, and for all EU banks starting July 9, 2027.