What is Confirmation of Payee?

Confirmation of Payee is an account name checking service that helps to make sure payments aren't sent to the wrong bank or building society account.
It helps you, other customers and businesses make payments safely by checking the name on an account before a new Faster Payment (known as a Bank Transfer in Pingit) is set up.Just so you know we do not do a Confirmation of Payee check when you pay someone using a mobile number.

We'll start using Confirmation of Payee by 1 April 2020. Some other banks might use it before then, so if someone tries to pay you, we may need to confirm the name they're using is correct.

Confirmation of Payee is one of the many ways the finance industry is tackling fraud. To help keep your money safe, it's important to make sure your information is up to date and you have the full name of the person or business you want to pay. You should also watch out for:
  • The name of the person or business you're paying not matching the name held on the account
  • Pressure to make a payment
  • Changes to account details
  • Payment requests from people you don't know
  • Anyone asking you to continue with a payment when the details don't match

How does Confirmation of Payee work?

When you set up a new Bank Transfer in Pingit, you can check the name on the account of the person or business you're paying.

Once they've been checked, the main responses you'll get are a match, partial match or no match. Here's an overview of each.

Match – the name on the account matches

If you used the correct account name (it's important that you have the full name of anyone you want to pay) we'll let you know that the details match, and you can continue with the payment.

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

If you used a similar name to the account holder, we'll show you the actual name of the account holder to check. You can update the details and try again, or check the details with the person or company you're trying to pay. This option won't appear if the account holder is under the age of 13 and the account name won't be shared.

No match – the name doesn't match the name on the account

If you've entered the wrong name for the account holder, we'll let you know that the details don't match, so you can contact the person or company you're trying to pay. When the name is wrong, it could be a fraudulent transaction.

You may also see 'technical' responses, such as a system problem or the account holder's bank not supporting the Confirmation of Payee scheme.

What does Confirmation of Payee mean for me?

Confirmation of Payee is a new step when you make a Bank Transfer, so there are a few things you'll need to consider.

If you're paying someone using their sort code and account number, you'll need to
  • Have the full name of the person or business you want to pay. For joint accounts, you only need the first and last name of any of the account holders
  • Choose whether you expect to pay a personal or business account – we'll tell you if your categorisation is incorrect
  • Make sure you're confident you're paying the correct person or business. If you get a partial match, or no match, when you input the details and choose to continue, we may not be able to get the money back if it goes to the wrong account
  • Make sure you give your full name (first name and surname) to anyone who is paying you

Tap here for more info.
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