SaarLB > Real-time transfers

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Your money arrives at the payee in seconds

Real-time transfers

are becoming the new standard

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General information

Since April 2024, a new regulation on real-time transfers (EU No. 2024/886) has been in force throughout the European Union. The aim of this is to promote the use and acceptance of real-time transfers and to create uniform standards for greater security and efficiency in payment transactions. The implementation of the regulation will bring important changes as of 5 October 2025. In future, real-time transfers can be ordered not only in online banking or EBICS, but also as a transfer by document. Depending on the procedure, you can choose between individual and collective orders as well as standing and scheduled orders timed to the minute. Your orders are executed around the clock, with no amount limit or additional costs. And the new verification of payee for transfers, real-time transfers and standing orders ensures more security. In future, before an order is executed, the system will check whether the name of the specified payee matches the name at the payee bank. But there is a need for action. Find out about the most important tasks for your company here.

More payment security with verification of payee

More payment security with verification of payee With the new verification of payee, you as a corporate customer can protect yourself against fraud, incorrect invoices and input errors when executing a transfer. As the party ordering a payment, you can choose whether a verification of payee should be carried out (opt-in) or whether you do not want this (opt-out) for collective transfers and collective real-time transfers. A verification of payee must always be carried out for individual transfers. It is therefore essential to check internal processes! As the payee of a transfer order, it is important that your payers enter the correct name. A different name may result in the person ordering the payment not authorising the payment.

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Updating payment transactions

Real-time transfers on all channels

USABLE EVERYWHERE:

In future, real-time transfers can be made in all known ways – in online banking, EBICS and also by document.

NEW FUNCTIONS:

As of October, real-time transfers can also be submitted as standing orders timed to the minute or scheduled orders. So you remain flexible.

Real-time transfers without amount limit and additional costs

UNLIMITED AMOUNTS:

Echtzeitüberweisungen sind künftig ohne zusätzliche Betragsobergrenze möglich. Vereinbarte Limite im Online-Banking oder EBICS-Verfahren bleiben bestehen.

THE SAME COSTS AS STANDARD TRANSFERS

A real-time transfer costs no more than a standard transfer.

AROUND THE CLOCK:

Real-time transfers are possible any day and any time – even on public holidays and at weekends.

Security through verification of payee

MANDATORY VERIFICATION OF PAYEE:

All transfers and real-time transfers must be checked in future. This also applies to collective, standing and scheduled orders.

WAIVER OF VERIFICATION OF PAYEE:

As a corporate customer, you can waive the verification of payee for collective transfers and real-time collective transfers with multiple transactions.

DEPOSIT OF TRADE NAMES/ALIASES:

In addition to their company name, corporate customers can also enter well-known trade names. These are also taken into account during the verification of payee.

Immediate notification on the status of the real-time transfer

QUICK STATUS INFORMATION:

Parties ordering a real-time transfer are informed of the success or failure of the transfer within a very short time.

FREE NOTIFICATION:

Notification is provided free of charge where the order was placed – for example via the real-time transfer alarm clock in online banking or the status report in the EBICS procedure.

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More payment security with verification of payee

Verification of payee is being introduced for transfers, real-time transfers, collective and standing orders and scheduled transfers. In future, outgoing transfer orders will be checked to ensure that the IBAN and the payee’s name match – thus protecting against incorrect orders and cases of fraud.


The following notifications are possible:

Match:

The IBAN entered and the name match completely.

Close match:

The IBAN entered and the name almost match. The name of the payee at the payee bank is displayed.

No match:

The IBAN entered and the name almost match.

Verification check not possible:

The verification could not be carried out for various reasons.

Examples of results from verification of payee:

Scenario
Request
Notification
Notification
Correct name

Max Mustermann

Max Mustermann
Match
Multiple first names

Max Mustermann

Max Maximilian Mustermann
Match
Community persons

Max Mustermann

Max Mustermann und Maxima Mustermann
Match
Correct name, small typos

Max Mustterman

Max Mustermann
Close match
Initials

M. Mustermann

Max Mustermann
Close match
No first name

Mustermann

Max Musterman
Close match
Incorrect name

Maria Mustermann

Max Mustermann
No match
Trade name different from the name of the account holder

Pizzeria Don Franesco

Max Mustermann
No match
No answer received

Max Mustermann

Max Mustermann
No verification possible
Bank does not participate in verification of payee

Max Mustermann

Max Mustermann
No verification possible

For individual transfers and individual real-time transfers, a verification of payee is always carried out due to legal requirements. This also applies to collective orders that only contain one transaction. The verification is usually carried out promptly. After taking note of the verification result, you can either authorise the transfer order or cancel and correct it. A transfer can also be executed if there is a discrepancy with the payee’s name.

Due to a publication by BaFin (https://www.bafin.de/ref/19976730), corporate customers may, until further notice, submit batch transfers with only one transaction via EBICS even without beneficiary verification (opt-out). For this purpose, you may continue to use the previously utilized order types until further notice.

Verification of payee process for individual transfers:

Payment submission:

Submission of the individual transfer in online banking or via EBICS.

Verification of payee:

Automatic check whether the payee name matches the account holder.

Result communicated to party ordering transfer:

The result of the verification is reported back promptly.

Payment authorisation:

Decision on authorisation or rejection of the payment based on the verification result, in online banking additionally the option to accept correction suggestions from close match.

Possible results:

- Individual transfer was authorised
- Individual transfer was rejected.

As a corporate customer, however, you can decide whether the verification of payee is carried out (opt-in) or whether you waive the verification (opt-out) for collective transfers and collective real-time transfers with more than one transaction. In the EBICS procedure, a collective order can only be fully authorised or rejected after the name has been verified. It is not possible to authorise individual payments (partial authorisation) within a collective order.

As the party ordering a transfer or real-time transfer, it is therefore important that you review your internal processes:

  • A verification of payee must always be carried out for individual transfers.
  • For collective transfers, you can specify whether you want to use the verification of payee (opt-in) or whether you want to do without it (opt-out).
  • Define rules for payment authorisation if only a close match or no match of the payee name is reported back.
  • Check whether all processes in your company can take verification of payee into account – especially for automated processes.
  • Correct existing payee data in your systems (e.g., ERP applications). Check that they are up to date and that they are spelled correctly.
  • When creating new master data, make sure that it is stored correctly.

How does the verification of payee work?

Incoming transfer orders

The introduction of the verification of payee also has consequences for you if you are the payee of a transfer order. It is important that your payers enter in the transfer order the name under which you hold the account with SaarLB.

As the payee of a transfer and real-time transfer, it is therefore important that you inform all business partners in good time:

  • Check your invoices and business letters to ensure that the correct payee name is stated everywhere.
  • Include additional trade names (alias names) with SaarLB if you need to be reachable under several names.
  • Inform your business partners and payers of the name to be used for transfer orders. This is usually the name according to the public register – e.g., commercial register or comparable trade register – or the trade name that you can have given to SaarLB.
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Verification of payee (VoP) in the EBICS procedure

The implementation of the verification of payee also entails technical adjustments to the EBICS procedure. New EBICS business transactions will be created for the submission of SEPA transfers and real-time transfers with verification of payee.
If you would like to use the verification of payee or if you have to do so due to legal requirements (e.g., for individual transfers), please use the new business transactions in future. These will be available to you automatically as of 5 October 2025.

Business transaction
BTF parameters (EBICS version 3.0)
EBICS order type (EBICS version 2.5)

SEPA transfer with verification of payee

SCT//VOI/pain.001/

CTV

SEPA real-time transfer with verification of payee

SCI//VOI/pain.001/

CIV

Verification of payee status report (pain.002)

REP/DE/VOP/pain.002/ZIP

VPZ

If you do not wish to carry out a verification of payee, you can use the existing EBICS business transactions:

Business transaction
BTF parameters (EBICS version 3.0)
EBICS order type (EBICS version 2.5)

SEPA collective transfer without verification of payee

SCT//VOO/pain.001/ oder SCT///pain.001

CCT

SEPA real-time collective transfer without verification of payee

SCI//VOO/pain.001/ oder SCT///pain.001

CIP

With EBICS, the payment order will be submitted as follows in future:

Example 1 – SEPA collective transfer with 15 transfer orders

The order can be executed either as a SEPA transfer order with verification of payee (EBICS order type CTV) or SEPA transfer without verification of payee (EBICS order type CCT):


With verification of payee:

  • After despatch, the order is forwarded to SaarLB for verification of payee, i.e. the first two signatures will only serve as transport signatures in future.
  • The status report for the verification of payee is made available for retrieval on the EBICS bank computer (EBICS order type VPZ). This contains an overview of all individual transactions and their status, for example “Match” or “Close Match”. For salary payments, we recommend submitting the order type XCT to avoid transaction details being displayed. The file is only available for retrieval in the Distributed Electronic Signature (VEU) once the VOP check has been completed and the VOP status report has been finalised.
  • After note is taken of the verification result and the legal information, the order can only be fully authorised or cancelled. Only then will the Distributed Electronic Signature (VEU) be retrieved by the authorised signatories (signature class A, B or E).
  • Once all authorised signatories have signed the order, the order is forwarded for execution.

Without verification of payee:

  • The order is authorised with an electronic signature.
  • Once all authorised signatories have signed the order, the order is forwarded for execution.

Example 2 – Submission of a single real-time transfer

The order must be executed as a real-time transfer with verification of payee (EBICS order type CIV): 

  • After despatch, the order is forwarded to SaarLB for verification of payee. Any attached electronic signatures will be discarded.
  • The status report for the verification of payee is made available for retrieval on the EBICS bank computer (EBICS order type VPZ). This contains an overview of all individual transactions and their status, for example “Match” or “Close Match”. The file is only available for retrieval in the Distributed Electronic Signature (VEU) once the VOP check has been completed and the VOP status report has been finalised.
  • After taking note of the verification result and the legal information, the order can be authorised with an electronic signature. Only then will the Distributed Electronic Signature (VEU) be retrieved by the authorised signatories (signature class A, B or E).
  • Once all authorised signatories have signed the order, the order is forwarded for execution.

NOTE: If the order is instead submitted without verification of payee (EBICS order type CIP), it will be rejected on the EBICS bank computer, as a verification of payee must always be carried out for individual real-time transfers.

Example 3 – Submission of a SEPA collective transfer with a single transaction

The order must be executed as a SEPA transfer with verification of payee (EBICS order type CTV). SEPA collective transfers with only one single transaction will be executed as a single transfer in future, i.e. the verification of payee is mandatory.

If the order is instead submitted without verification of payee (EBICS order type CCT), it will be rejected on the EBICS bank computer, as a verification of payee must always be carried out for individual transfers.

Further detailed information can be found on the website of the German Banking Industry: https://www.ebics.de/de/ebics-standard/hinweise-hersteller-kunden

The Distributed Electronic Signature (Verteilte Elektronische Unterschrift, VEU)

In future, the use of the Distributed Electronic Signature will be mandatory in order to be able to authorise or cancel payment orders with verification of payee. The Instant Payments Regulation stipulates that all signatories must first take note of the VOP result. The submitted and VOP-checked file is therefore authorised or cancelled via the Distributed Electronic Signature (VEU). For this purpose, the Distributed Electronic Signature procedure is expanded to include the VOP verification result and additional information.
If you do not yet use the Distributed Electronic Signature, find out now how it works in the banking software or app you use.

How does the Distributed Electronic Signature work?

1. The accountant submits a transfer order without electronic signature and sends it to SaarLB.
2. Manager A retrieves the information on the transfer order from the EBICS bank computer and checks it.
3. After verification, she adds her electronic signature using banking software.
4. Manager B retrieves the information on the not yet fully signed transfer order from the EBICS bank computer and checks it.
5. After the check, she adds her electronic signature using the EBICS app.
6. The fully signed order is processed.

Notes for users of banking applications

With the implementation of the new regulations, new functionalities such as the standing order real-time transfer and verification of payee will be introduced. These new functions also require customisation in the applications you use.

Please find out in good time whether the producer of your application will make the necessary adjustments so that you can use all the new functions.

SaarLB will provide the payment transaction applications offered, such as SFirm and the online banking portal, with all necessary updates in good time.

If you are using an application from another manufacturer, please contact them directly.

At www.ebics.de/de/ebics-standard/implementation-guide you will find an implementation guide from the German Banking Industry for implementing the Instant Payment regulation in the EBICS procedure.

Please plan appropriate updates for the application you use, which may only be available shortly before the regulatory requirements come into force.

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Questions and answers

1. I do not want to use the verification of payee. What can I do?

For individual transfers or collective orders with only one transaction, verification of payee is mandatory and cannot be switched off. Corporate customers can optionally use verification of payee for collective transfers with more than one transaction.

2. I don't know if my banking application supports verification of payee. What can I do?

Applications provided by SaarLB, such as online banking or SFirm, will support verification of payee in good time.

3. How can I stay informed about the status of my real-time transfers?

In online banking, you can find out about the status of your real-time transfer via your revenue display or the account alarm clock. In the EBICS procedure, you can track the status using your transaction information, earmarked items or the status report.

4. What happens if the transfer is not executed within ten seconds?

If a real-time transfer cannot be completed within ten seconds, the transferred amount is automatically credited back to your account. If, in exceptional cases, the execution status is still unclear after the deadline has expired, you will receive a corresponding notification together with the chargeback. In this case, please do not make a new transfer until SaarLB has finally checked the payment status.

5. Does the verification of payee also apply to express transfers and international payments?

No, euro express transfers and foreign payments are not subject to the verification of payee requirements and can be submitted as before.

6. Does the verification of payee also apply to payments to my own current accounts?

Irrespective of whether payments are made to one’s own payment accounts at SaarLB or at another credit institution, these are subject to the obligation to verify the payee. This does not apply to non-payment accounts, such as fixed-term deposits and savings accounts.

Contact us

Xenia Léonard

Business Payment Services
Fon. +49 681 383-1317
xenia.leonard@saarlb.de

Christine Bieg

Business Payment Services
Fon. +49 681 383-1848
christine.bieg@saarlb.de
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Communication & Media
Phone: +49 681 383-1264
philipp.werthmueller@saarlb.de
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