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Verification of Payee, Instant Payment and Limit

New services are available in the mojaRBA BIZ mobile and internet banking.

Make your payments fast, simple, safe - at no added costs!

Verification of Payee

To raise security of your payments, prevent payee data input errors and protect yourself from malicious frauds by using the Verification of Payee service.

Instant Payment

With the Instant Payment service, make fast payments to payee's account at any moment. Your outgoing national and cross-border payments in euros are executed within 10 seconds, at no additional costs, at a fee equal to the fee for regular payments.

Limit

With the Limit service, manage the limit of outgoing instant payments, at any moment, simply and according to your needs.

Verification of Payee

The Verification of Payee service is available in the mojaRBA BIZ mobile and internet banking.

If you place your payments in the database format, you can deactivate the Verification of Payee service. Service deactivation can be requested by a Representative or an Authorised Person with the power to manage assets in the respective account. You can re-activate the service at any time.

The Verification of Payee service is carried out for national and cross-border transactions in euros. After you enter a payment order, the bank automatically verifies whether the input name and surname (if the payee is a natural person) or name (if the payee is a legal person) of the payee correspond to the respective IBAN holder.

Before you authorize the payment order, you will receive verification feedback. See what types of messages can come up.

Payee name matches the IBAN holder

You can proceed with payment order authorization.

Payee name mismatch

The input payee name and IBAN holder do not match. You can select the presented name/name and surname of the registered payee.

Payee name and IBAN do not match

Check the IBAN and name/name and surname of the respective payee again. If you do not change the input data, there is the risk of making a payment to an unwanted payee.

Continue without payee name verification

Check the input payee name / name and surname again, because the payee’s name cannot be verified. The reason may also be verification system unavailability.

Instant Payment

  • when¸placing national and cross-border outgoing payments in euros, select Instant Payment and funds will be in the payee’s account almost immediately (within 10 seconds)
  • for payments among banks participating in the SCTInst Scheme
  • at no additional costs, at a fee equal to the fee for regular payments
  • Instant Payment can be requested 24 hours a day, 7 days a week and on all calendar days of the year
  • available in the mojaRBA BIZ mobile and internet banking, and from 6 Oct also at the RBA branches

Limit

  • to protect your transactions, we introduced the service for managing the daily limit or the transaction limit
  • as an initial daily limit, we set EUR 5,000 per account
  • you can change and manage it at any time through the mojaRBA BIZ mobile and internet banking or at the Bank’s branch

FAQ

Find answers to the most frequently asked questions.

You can set and/or change the Limit amount by yourself, in the mojaRBA BIZ mobile or internet banking. Limit change request can be submitted also at any RBA branch by resenting your ID document. You can choose either a daily limit or a transaction limit.

The Verification of Payee service is performed for national and cross-border payments in euros.

If the verification outcome is negative, or the input data do not match the registry data, you will be notified and warned that unless the data of IBAN and name of the payee are corrected to correspond to the verification findings, payment order authorization could lead to payment to an account which is not in the name of the payee stated in such a payment order.

Client has the possibility to deactivate the Verification of Payee service for every individual RBA transaction account, for those payments which they submit in a database format. The service can be re-activated at any time.
Deactivation of the VOP service can be requested by a Representative or an Authorised Person. However, an Authorised Person who disposes of account assets solely with a card, and an Authorised Person to whom card was issued exclusively for cash depositing at the RBA ATMs are denied the right to de-/re-activate the service.

The standard option is OPT IN.

Useful documents

Find useful contracting documents and useful information.

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Documentation