Is it necessary to update the names of your beneficiaries to achieve optimal results?
Yes, to optimize results and avoid 'Not an exact match ' or 'No match ' statuses, the name associated with the IBAN must match one of the following pieces of information:
- the name of one of the bank account holders
- the account denomination
- the company's legal name
- an official abbreviation of the company name (if available)
- the company's trading name.