Join UsKeeping Your Money Safe
We’ve got your back when it comes to keeping your hard-earned cash safe! From 9th October 2025, we’re rolling out a new security feature called Verification of Payee (VoP). Think of it as a quick “name-check” that makes sure your money is really going to who you think it’s going to.
What is Verification of Payee?
No More ‘Oops, Wrong Account’ Moments! When you set up a payment, VoP checks that the name you enter matches the bank account details of the person or business you’re paying.
- If it matches ✅ – all good, send away.
- If it’s close ⚠️ – we’ll give you a nudge to double-check.
- If it doesn’t match ❌ – we’ll wave a big red flag before you send a cent.
Why does this matter?
Fraudsters are getting sneakier. One of the most common scams is when someone sends you a fake invoice with their bank details on it (called invoice redirection fraud). Without VoP, you might not notice until it’s too late.
Example 1:
You’re paying for a new kitchen renovation. The builder sends you an invoice. But a scammer hacks their email and slips in their bank details instead. Without VoP, your money could disappear. With VoP, the system warns you that the name on the account doesn’t match your builder.
Example 2:
You’re helping your son pay his college fees. You type the IBAN in a bit too fast and get one number wrong. Instead of going to “John Murphy”, it’s heading for a stranger’s account. VoP catches the mismatch before the money goes walkies.
When is it happening?
From 9th October 2025, all payments (online, app, or in branch) will go through this smart name-check. It only takes seconds, but it could save you thousands.
What’s in it for you?
- Peace of mind knowing your money is going where it should.
- Fewer mistakes from typos or mix-ups.
- More protection against scams that are becoming all too common.
It’s another way Croí Laighean Credit Union is looking out for you — because we’d much rather see your money in your community, not in a scammer’s pocket.