Starting in October 2025, clients of Slovak banks will see an important change. This is an important update. Now, to make bank transfers, just the account number (IBAN) will not be enough. You will also need to provide the recipient's name.
The changes will take effect in a few weeks. They are meant to increase the security of money transfers and reduce the number of scams and mistakes that happen when typing long bank details.
From now on, when you make a payment order, you will need to provide:
the recipient's account number;
their first and last name, or company name.
The bank will automatically check if the name you provide matches the data held by the recipient's bank. The check will be instant – it will take less than a second. However, if the name and account number do not match, the transfer may be blocked or delayed.
The system will not require a 100% match. If there is a partial match, the system will mark it as "Close match", and the bank will decide on the transfer itself.
The system for checking name and account matching is planned to be activated at the beginning of October 2025. Banks advise clients to check in advance under what name the accounts of their relatives, partners, or companies, to whom they regularly send money, are registered.
