From
9 October, Rietumu Banka introduces automatic payee verification for all
outgoing payments in euro within Europe.
This
innovation will be implemented according to the EU regulation, and it will
prevent errors under payment processing as well as improve protection from fraud.
From then on, the banking
system will verify whether the payee you stated in the payment order is the
same as the actual holder of the account to which payment is made.
You will be notified on
matching in the internet bank or mobile app every time before the payment
confirmation. The notification will inform whether the details are correct
(match), incorrect (no match) or have minor inconsistencies (close match).
Payments can be confirmed
and passed for processing even in case of no match. However, to preclude the
risk of fraud, we recommend finding out why the name of the account holder is
different from the one you stated. You can make amendments if necessary. In
case of doubt, we strongly recommend abstaining from the payment and contacting
the bank immediately.
Please be reminded about
the standard limit or your chosen limit set on your payments for security
reasons. You can see the limits and adjust those as necessary in the internet
bank section “Limits”.
Please
address all your questions to your personal service manager or contact the
bank’s Customer Service (tel. +371 67025555, e-mail: info@rietumu.lv).