Banca Transilvania makes it easier for customers who fill in a payment order in internet and mobile banking applications by displaying the payment beneficiary’s name in truncated form.
The truncated name is displayed starting from the name of the beneficiary registered in the beneficiary's bank records.
For initiated interbank payments (from BT account to accounts opened with other banks), this facility is offered through the Beneficiary Name Display Service (BNDS), a service administered by the Romanian Association of Banks (ARB), which aims to provide the payer with details regarding the beneficiary’s identity, thus contributing to reducing online fraud specific to IBAN-based transfers.
SANB is an optional additional service to the SEPA RON Credit Transfer Schemes and is available only for interbank payments made to accounts opened with another bank that has joined the Transfond - Transfond - Beneficiary Name Display Service.
The updated list of banks that have joined this service can be found on the website www.transfond.ro, in the section here.
The BNDS database containing truncated names is managed by TRANSFOND and is created based on the information submitted by the Romanian banks providing this service.
For intrabank payments initiated (from BT account to accounts opened with BT) in BT internet and mobile banking applications, a similar facility is offered through a proprietary service developed by Banca Transilvania.
BNDS and the correspondent BT service for intrabank payments automatically display the first name and initial of the beneficiary’s surname (if the beneficiary is an individual) or part of the company’s name (if the beneficiary is a company) to be validated by the payer.
