We’re introducing a name checking service called Confirmation of Payee (CoP). It aims to protect against Authorised Push Payment (APP) scams and reduce the number of payments which are made by mistake.
When you make a one-off payment, set up a new regular payment or amend an existing payment, it lets you check you’re paying the right person or business. Letting you see if the name matches who they say they are.
CoP also allows a person or business sending you a payment to check your name matches your account.
How will name checking affect payments I'm sending?
What happens with payments I'm expecting?
If they get a match
If they get a close match
If they don't get a match
If the payment sender’s bank is not registered for Confirmation of Payee, or is not quite ready to send requests to us, then they won’t see any change to their payment process and will be able to pay you as they do today. Where the Confirmation of Payee name check isn’t available, an onscreen message will confirm that to the other person.
What should I do to help anyone paying me?
Is your account for personal use or for your business?
Is the name they're inputting correct?
What is an Authorised Push Payment?
How do APP scams work?
An APP scam is when a fraudster tricks victims into sending money to someone it’s not intended for. Sometimes they send money to someone for what they thought was a genuine purpose, but was actually fraudulent.
Payments related to APP scams can be made over the phone, online or in person and most are completed instantly.
We’re working closely with other industry partners to introduce the new CoP service to help protect you from scams like this.
Benefits of name checking
The Confirmation of Payee service gives you greater security when you’re making online payments.
With name checking, you can make sure the name of the person or business you’re paying matches the name held on the account.
Here are some other warning signs which may mean you’re being targeted by fraudsters:
- payment requests from someone you don’t know
- being put under pressure to make a payment
- changes being made to the details on account you’re paying
- being asked to continue with a payment even though the details don’t match
There are a number of organisations who can provide help and give advice about Confirmation of Payee.
- UK Finance - https://www.ukfinance.org.uk/confirmation-of-payee