I recently became the bursar of my sports club. My most frequent duty is to make payments. I get a bill, usually on a piece of paper, log in into our bank's online banking interface, and make a SEPA transfer.
Handling these amounts of money makes me somewhat nervous, especially because I'm frequently typing long IBANs into a field. I concentrate as best as I can and triple-check, but I'm not infallible. So I wondered: is there some safeguard against making the transfer to the wrong account? I know that a credit card number contains a kind of error correction, such that a digit must match some mathematical transformation of the other digits. Is this the case for an IBAN? Or is there a chance that I send last winter's swimming pool usage money to somebody else and not the municipality?
If it is possible to mistype a number, is there some system which reduces the chance of human error?