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Not all banks are using confirmation of payee yet, but you'll be given an on-screen response which advises 'We can't check...
If your account name is still your official name, you just need to advise payers of this before they make a payment to you....
Payment timescales will remain unchanged, regardless of whether confirmation of payee is used.
Confirmation of payee works by checking against the name held on the account at the receiving bank.
For example,...
For example,...
Secondary reference data is where there is more than the sort code and account number needed to identify the account, such...
We will confirm each payee the first time you make a payment to someone new.
- Full name (if it's a joint account, one name is fine)
- The sort code and account number
- SRD (if appropriate)
- Confirmation
As you will have provided your name and account details to the payer, the only other details available to them is whether...
Confirmation of payee is a name matching scheme which gives you confidence you are sending your payment to the correct person/company....
Confirmation of Payee is an account name-checking service designed to help reduce fraud through misdirected payments. It...
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