Instant payment and VOP

Instant payment in EUR – money transfer in 10 seconds, 24/7/365!

Our clients are enabled to send and receive euro payments in only 10 seconds, at any time of day, every day of the year, and at the same rate as for regular payments!

Instant payments can be executed via eLEMENT@ Internet banking, OTP m-business application, at OTP banka branches and through FINA channels, and are available within the Eurozone, that is, for the banks that participate in the SCTInst scheme.

VOP – verification of payee service

Verification of payee (VoP) service will be available for all types of payments in EUR as of 5^th October 2025. When an order is given, the system automatically runs a check of the name and the account number (IBAN) of the payee, and warns about any mismatch, thus decreasing the likelihood of error and increasing the security of payment transactions.

Such checks can result in:

Match – name of the payee fully matches the name of the account (IBAN) holder.
Close match – name of the payee is a close match to name of the account (IBAN) holder. The payer is suggested to correct the name of the payee.
No match – name of the payee does not match the name of the account (IBAN) holder
Verification not possible/not applicable – the service is not available at the moment, or the payment service provider is not listed in the European Payments Council (EPC) Directory Service, which contains technical information on availability of banks within VoP scheme.

Benefits for the clients:

lower risk of frauds
fewer wrong payments and fewer subsequent requests for refund.

A few pieces of advice for safe use:

always enter payee’s data carefully,
pay attention to any system warnings,
if in doubt, contact the payee or the bank to verify the data.

The bank shall not be liable for any losses incurred in situations where the payments were authorised despite the fact that the VoP service result was not a complete match.

Choose OTP banka and enjoy fast and secure payments that are always on hand!