Households and businesses are being urged to prepare for an extra layer of protection in making payments from their bank, credit union or An Post current accounts from Sunday.

Those making standard and instant payments under the Single Europe Payments Area (Sepa) system willnot only need the right international bank account number (Iban) of the recipient, but also the correct account name of the person or company receiving the money for a new payment or a standing order to run smoothly.

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