Confirmation of Payee

Confirmation of Payee (CoP)

Confirmation of Payee (CoP) is a security measure introduced in the UK banking system to help prevent fraud and reduce the risk of payments being sent to the wrong account. It was implemented by major UK banks as a response to the increasing incidents of Authorised Push Payment (APP) fraud, where individuals or businesses are tricked into sending money to fraudsters.

How Confirmation of Payee works:

When you make a payment using online or mobile banking, CoP checks whether the name of the person or business you intend to pay matches the name associated with the account number and sort code you have entered. There are typically three possible outcomes:

1. Match: If the name you provide matches the account holder’s name, you can proceed with the payment, knowing the details are correct.
2. No match: If the name you provide doesn’t match the account holder’s name, the system will alert you. This is a signal that something might be wrong, and you should double-check the payment details or contact the intended recipient.
3. Close match: If the name is close but not an exact match, the system will give you the option to proceed but will advise caution.

Benefits of Confirmation of Payee:

• Fraud prevention: It reduces the risk of fraud by ensuring that the money is sent to the correct account.
• Error reduction: It helps to avoid mistakes when entering account details, which can lead to payments being sent to the wrong person.
• Increased confidence: It provides customers with greater confidence when making payments, knowing that the details are verified.

Can I opt out?

All customers are automatically opted-in to Confirmation of Payee. If you want to opt out, please download and complete Confirmation of Payee Request form.

Please note, opting out could result in payments being made to the wrong account and you may be at an increased risk of fraud.