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Confirmation of Payee
What is Confirmation of Payee?
Confirmation of Payee (CoP) is a new way to check who you’re transferring money to. Sending money using just a sort code and account number can be a stressful experience, especially as many transfers go to the recipient’s account within seconds.
In order to provide more reassurance, we’re launching a new service called Confirmation of Payee (CoP) that will ask you to confirm the recipient’s name as well. Participating banks will match it against the actual name on their account and provide you with a response. This is one of the many ways in which we’re working to keep you safe from fraud.
How does Confirmation of Payee work?
When you’re about to send a transfer using CoP, you’ll:
- Enter the recipient’s full name (or trading name)
- Select whether the account is a personal or business account
- Enter the sort code, account number, and any reference you wish to add
- When you’ve entered these details, you’ll get one of the results below:
| Result | What this means | What you can do | Fraud advice |
|---|---|---|---|
| Yes, it's a match | You’ve got the recipient’s account details exactly right. | Confirm the transfer. | If you have received their account details by letter, email or text message, we recommend you phone the recipient (using a number that you know is genuine) to check that everything is OK before sending any money |
| Close match | The recipient’s name you’ve entered is similar to what their bank’s records say, but doesn’t match exactly. | We will provide the name on the account and recommend you phone the recipient (using a number you know is genuine) to check that everything is OK before sending any money. | Check that any differences are only minor. If they’re more substantial, think twice before confirming the transfer. |
| No match | The details you’ve entered don’t match your recipient’s. | We strongly recommend that you check and confirm the correct details with the recipient before making the transfer.Phone them using a number that you know is genuine, and not by replying to an email or text message. | When this happens, stop immediately. Think about how you received these account details and why you’re sending this money. Don’t send money until you’re comfortable that you’re paying who you expect to. If you choose to proceed, we may not be able to retrieve the money. |
| Unable to check | We haven’t been able to check the recipient’s account details. This could happen, for example, if their bank isn’t using CoP checks yet. | We strongly recommend that you check and confirm the correct details with the recipient before making the transfer. Phone them using a number that you know is genuine, and not by replying to an email or text message. | Although some financial institutions have not signed up to the CoP scheme yet, you should continue to be careful when transferring money. Only send funds to someone you know, and have been able to verbally confirm account details with. |
Which transfer types will use Confirmation of Payee?
New transfers, or an amendment to an existing transfer made to a UK recipient in GBP through any transfer method.
Will all UK banks use Confirmaton of Payee?
Most UK banks have already supported CoP since 2020.
From October 31st 2024, all UK registered financial institutions are required to implement CoP. If you try to send a transfer to someone whose bank is not yet registered for CoP, you may get an alert to tell you.
Will this prevent fraud?
Unfortunately not, but it’s an extra safeguard against it. Kindly remember that the bank, the police, HMRC or any other legitimate organisation will never ask you to transfer money from your account to keep it safe, but a criminal would. Just because the account name matches, this does not mean it’s not a scam.
Can Confirmaton of Payee stop transfers from being made?
No – you can still send transfers even if you’re warned that your recipient’s details don’t match. But please be aware that if you decide to continue with the transfer without checking the recipient’s details, we may not be able to recover the money you sent if it goes to the wrong person. We can stop you from proceeding with transfers if we have a confirmation from the recipient’s bank that the account has been closed or switched to another bank.
Can I opt out of Confirmation of Payee?
Yes – although you’ll be automatically opted in to CoP, you can opt out if there is a legitimate reason for doing so. In order for us to consider your request, please contact our friendly Customer Services Team.
It can take up to 5 calendar days from receipt of the request to complete the review and make a decision. If your application is successful, we will opt you out based on the information provided, however you can opt back in at any stage by following the steps above.
Where can I find more information on Confirmation of Payee?
You can find more information on the Pay.uk website.