On the payment service provider’s remote channels (e.g. home banking or apps), after the standard or instant credit transfer originator enters the IBAN of the payee’s account, the originator receives the name of the first holder of the destination account within a few seconds. 

In the case of a standard or instant credit transfer initiated over the counter, after the originator indicates the IBAN of the payee’s account — or another payee identifier such as a mobile phone number, TIN or LPIN — the payment service provider indicates the name of the first holder of the destination account within a few seconds. 

On the basis of the information obtained, the originator decides whether or not to proceed with the transfer, along the usual lines.