Use the official name when paying Elo’s invoices
/ News
The EU’s new instant payment regulation (effective from 9 October 2025) requires banks to check that the recipient’s name and account number match when making a payment.
When you make a new payment in online banking, you will receive a notification indicating whether the recipient’s name and account number match fully, partially, or not at all. When paying Elo’s invoices, make sure to use the official name: Keskinäinen Työeläkevakuutusyhtiö Elo.
If you are paying to an account at Danske Bank or OP, you may also use the Swedish name Ömsesidiga Arbetspensionsförsäkringsbolaget Elo or the English name Elo Mutual Pension Insurance Company as the recipient.
If you are paying to an account at Nordea or S-Bank, only the Finnish name Keskinäinen Työeläkevakuutusyhtiö Elo is accepted as the recipient. If you use any other version of the name, you will receive a notification that the name does not match the account holder’s name.
Please note that the way the notification is displayed depends on the bank.
The notification does not prevent the payment: Despite the notification, you can proceed with the payment as long as you ensure that the account number you use definitely belongs to Elo. Your payment will be directed to the correct recipient based on the account number. However, the responsibility for the payment always lies with the payer.
When you make a new payment in online banking, you will receive a notification indicating whether the recipient’s name and account number match fully, partially, or not at all. When paying Elo’s invoices, make sure to use the official name: Keskinäinen Työeläkevakuutusyhtiö Elo.
How to ensure smooth payment processing
When you make an online bank payment to Elo, it is recommended to enter Elo’s official Finnish name as the recipient: Keskinäinen Työeläkevakuutusyhtiö Elo. If you use another version of the name, you may receive a notification that the name only partially matches or does not match at all.If you are paying to an account at Danske Bank or OP, you may also use the Swedish name Ömsesidiga Arbetspensionsförsäkringsbolaget Elo or the English name Elo Mutual Pension Insurance Company as the recipient.
If you are paying to an account at Nordea or S-Bank, only the Finnish name Keskinäinen Työeläkevakuutusyhtiö Elo is accepted as the recipient. If you use any other version of the name, you will receive a notification that the name does not match the account holder’s name.
Please note that the way the notification is displayed depends on the bank.
The notification does not prevent the payment: Despite the notification, you can proceed with the payment as long as you ensure that the account number you use definitely belongs to Elo. Your payment will be directed to the correct recipient based on the account number. However, the responsibility for the payment always lies with the payer.