Recital 21

(21) Some attributes of the name of the payee to whose account the payer wishes to make a credit transfer, such as the presence of diacritics or different possible transliterations of names in different alphabets, differences between habitually used names and names indicated on formal documents, might result in a situation where the name of the payee provided by the payer and the name associated with the payment account identifier, specified in point (1)(a) of the Annex to Regulation (EU) No 260/2012 (payment account identifier), which was provided by the payer, do not match exactly but nevertheless almost match. In such cases, to avoid undue friction in the processing of credit transfers in euro and facilitate the payer’s decision whether to proceed with the intended transaction, the PSP should indicate to the payer the name of the payee associated with the payment account identifier provided by the payer in a manner which ensures compliance with Regulation (EU) 2016/679 of the European Parliament and of the Council (8).

← Recital 20 · All articles · Recital 22 →

Source: EUR-Lex CELLAR · retrieved 2026-08-27 · Text as adopted (Official Journal); later amendments are not incorporated in this text.