Overseas

Confirmation of Payee

Confirmation of Payee (CoP) – FAQ


When you set up a new CHAPs, Faster Payment or standing order in Sterling (GBP) , we use CoP to check that the account details and name match. If you have a current or savings account with us, we will do this automatically.


CoP is one of the many ways banks and regulators are addressing payment fraud and helps prevent payments from going to the wrong account. Stay safe and protect yourself against payment fraud by:

• Taking a moment to stop and think before parting with your money or information could keep you safe.
   
• Don't make payments out of pressure. Challenge payment requests from people you don't know. Could it be fake? It's ok to reject, refuse or ignore any requests.
   
• Check to make sure the details you've entered match the account you're trying to pay. Contact your bank immediately if you're worried about payment fraud and report it to Action Fraud.
   

The Bank will also confirm your account details to other banks when they request for confirmation of your details.


Your data security

When you set up a new payment, banks share information with each other to confirm the payee's details match. To use CoP, they need to pass rigorous security checks and are regulated by the Financial Conduct Authority (FCA).


How CoP works


When you set up a new payment, we'll let you know whether the details are a match, partial match or no match to our information.


Here's what the different responses mean:


Match – the details you entered match the person or business you're trying to pay

All the details you entered are correct, and the account matches the name.


Partial match – the account is registered to someone with a similar name

If you enter a similar name, we'll show you the correct name linked to the account. You can update the details and try again or check them with the person or company you're trying to pay.

If you continue without updating the details, you're accepting the risk that if the payment goes to the wrong account, we might not be able to get it back.


No match – the name or reference you've entered doesn't match the account, and isn't similar

You need to contact the person or company you are trying to pay to check their details.

If you continue with your payment, you're accepting the risk that if the payment goes to the wrong account, we may not be able to get the money back.


Other responses

You might see other responses, such as a system problem or the account holder's bank doesn't use the CoP scheme. Please double check the payment details with the person or business you're paying if this happens.


Opting out or bank in to CoP