When you send money
When you set up a new payee (the person or business you are paying money to), or update their existing details, CoP compares the details you’ve entered to those that their bank holds for them. This is to help you decide if the account belongs to the person or business you intend to pay. This happens before you send the payment.
You enter their:
- Account number
- Sort code
- Account name
Their bank then checks these and gives you one of four outcomes:
A match
The account name you’ve entered matches the payee's name. You can be confident about making the payment to them.
No match
The account name you’ve entered doesn't match the payee's name so it’s possible that the payment request is fraudulent. You won’t be able to see the actual name on the non-matched account, so you should carefully double-check the details, otherwise your money could be sent to the wrong person.
A close match
The account name you’ve entered is close to the payee's name, which you’ll get to see. If you’re comfortable you’ve got the right person, double-check the details before sending any payment.
Always stop and think before ignoring a Confirmation of Payee response.
Unable to check the account
Sometimes the name on the account you're sending money to can't be checked. This may be temporary or it could be that the payee has opted out of the Confirmation of Payee service. Before you continue with the payment, check the account name and details are correct, particularly if you’ve been asked to pay an amended or new account.
When someone sends you money
When you’re the payee, we provide your details to the payer’s bank. It’s important that whoever is paying you has the correct account number, sort code and name.
For sole Individual accounts, this will be your full name (first name and surname); for joint accounts this is the full name of any or all account holders, and for Corporate accounts, you'll need the full name of the business.
Although you can include titles, it's not a requirement, and it can also result in a ‘negative match’.
You can opt out of CoP by asking your branch, but we'll only agree to this in exceptional circumstances. If you do opt out, you can opt back in at any time.
Sort codes
Individual banking customers should use 60-95-34
Corporate banking customers should use 40-51-62