Banca Transilvania facilitates informing customers who fill out a payment order in internet and mobile banking applications regarding the name or designation of the payment beneficiary, by displaying a truncated version of this information.
The name or abbreviated designation is displayed starting from the name or designation of the beneficiary registered in the records of the beneficiary's bank.
For interbank payments initiated (from a BT account to accounts opened at other banks), this facility is offered through the Beneficiary Name Display Service (SANB), a service administered by the Romanian Banking Association (ARB) which aims to inform the initiator of a payment about details regarding the identity of its beneficiary, thus contributing to the reduction of specific online frauds in the case of transfers made via IBAN.
SANB is an optional additional service to the SEPA RON credit transfer schemes and is available only for interbank payments made to accounts opened at another bank that has joined the Beneficiary Name Display Service – Transfond.
Updated list of banks that have joined this service can be found on the website www.transfond.ro, in the section of here.
The SANB database containing the name or truncated designation is managed by TRANSFOND and is created based on the information provided by banks in Romania that offer this service.
For intrabank payments initiated (from a BT account to accounts also opened at BT) in BT's internet and mobile banking applications, a similar facility is offered through a proprietary service developed by Banca Transilvania.
SANB and the BT homologous Service for intrabank payments ensure the automatic display of the first name and the initial of the beneficiary's last name, if the beneficiary is a natural person, while, in the case of a payment to a legal entity, part of the company's name will be displayed to the payer for validation.
