How does Confirmation of Payee work?

P
Written by Palak
Updated 1 month ago

When setting up a new payment, CoP allows you to verify the recipient’s name, sort code, and account number before making the payment. If relevant, it can also check secondary reference information, like a building society roll number, or the type of account and payment references, ensuring they match the details held for the payee.

Below are the types of messages you could see while using Confirmation of Payee checks:

Account name does not match

Why did I receive a message saying the account name doesn't match?

The account name you entered doesn't align with the registered name of the account. This discrepancy can be a red flag for fraudulent activity and it may mean that your payment may not be going to your intended recipient. It’s important to verify the recipient’s details before you proceed with the payment.

What should I do if the account name doesn’t match?

Double-check the account name with the recipient. Remember that emails may be intercepted and bank details changed. Confirm that the details are accurate in person or over the phone before proceeding.

Account number not found

Why did I receive a message saying the account number could not be found?

We couldn't locate an account with the details you provided, at the intended recipients bank. This could be human error in providing the details, or you may have intentionally been given the wrong information as part of a scam. It’s important that you verify the recipient’s details before you proceed with the payment.

What should I do if the account number can't be found?

You will need to verify the information with the recipient. Remember that emails may be intercepted and bank details changed. Confirm the details are accurate in person or over the phone.

Account switched

What does it mean if the account has been switched?

The recipient's account may have been moved to another bank, and we couldn't verify the new details. This could be human error and not providing you with updated details, but it can sometimes also be a red flag for fraud.

What should I do if I receive this message?

Reconfirm the recipient's details with them directly (in person or over the phone) and be cautious of any inconsistencies before continuing with the payment. Remember that emails may be intercepted and bank details changed.

Account not verified

Why couldn't the account details be verified?

We were unable to verify the recipient's account with their bank. This could be a warning sign of fraud as fraudsters may intentionally use accounts that can’t be verified to trick victims into sending a payment. It’s important to proceed with caution.  

How can I proceed if the account isn't verified?

Reconfirm the recipient's details with them directly (in person or over the phone) and be cautious of any inconsistencies before continuing with the payment. Remember that emails may be intercepted and bank details changed.

Not a business account

What does it mean if the account is not a business account?

The account details you've entered are for a personal account, not a business one. If you were expecting to send funds to a business this mismatch may suggest a potential scam.

What should I do if I receive this alert?

Reconfirm the recipient's details with them directly (in person or over the phone) and be cautious of any inconsistencies before continuing with the payment. Remember that emails may be intercepted and bank details changed.

Business account

What does it mean if the account is a business account?

The account entered is a business account, not a personal one. This could be a red flag if you’re not paying for a business service.

How should I respond to this message?

Reconfirm the recipient's details with them directly (in person or over the phone) and be cautious of any inconsistencies before continuing with the payment. Remember that emails may be intercepted and bank details changed.

Name not an exact match

Why is the account name not an exact match?

The name you've entered doesn't exactly match the name registered with the account. Even slight discrepancies can be a red flag for potential fraud as fraudsters may set up an account with a similar name to a legitimate account to trick people into making payments.

What should I do if the name doesn't match exactly?

Double-check the recipient’s name and account details and verify this information with them verbally, either over the phone or in person. Ensure everything matches before continuing with the payment. Remember that emails may be intercepted and bank details changed.

Payment reference required

What does it mean if a payment reference is required?

Some accounts require a payment reference for the transaction. However, fraudsters can use this to complicate the payment process as it means that it is not clear who, or where, a payment is actually being sent to. 

How should I handle a payment that requires a reference?

Verify with the recipient if the reference is necessary and verify all details verbally, either in person or over the phone, before proceeding with the payment. Remember that emails may be intercepted and bank details changed.

Did this answer your question?