I see a foreign IBAN as beneficiary when approving the payment

Modified on Wed, 30 Aug, 2023 at 10:03 AM

In some cases, your payment is handled by a Payment Service Provider (PSP) that acts as intermediary on behalf of the merchant. 

In these cases, you will see the name of the PSP and their own IBAN (it might be a foreign one) on your bank statement, instead of the name of the merchant.

The payment is transferred from your bank account to the bank account (IBAN) of the PSP acting as intermediary. Then the PSP transfers the amounts to the IBAN of the merchant.

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