Remember - Never set up new or change existing payment details without first verifying the request directly with the person or company you're paying, preferably using existing contact details. They also help tackle some types of fraud like authorised push payment scams and other forms of maliciously misdirected payments. These checks can help you avoid simple mistakes like mis-typing account details when you set up a payment. (Remember that some businesses may have more than one trading name). You'll need to provide the business or trading name exactly as it appears on an invoice or other payment instruction you've been given. If you need to pay a joint account, you’ll need to ask for the name of one of the joint account holders, exactly as appears on their account statement. The funds may go to the wrong account and we might not be able to recover the money. If we can’t check the account details, you’ll be able to use the details you have if you want to, but you should always double-check they’re correct. Not all banks are participating in the scheme straight away so if you’re paying someone whose bank isn’t participating yet we won’t be able to check the name on the account you’re sending money to. If the type of account doesn’t support the checks or there’s a technical issue, we’ll tell you. Make sure that you check the reference details with the person or business that you’re attempting to pay before continuing. If the reference for those account details is incorrect, we’ll let you know. If the name doesn’t match, we'll tell you, and ask you to contact the person or organisation you’re trying to pay.
DRAWEE VS ACCOUNTEE UPDATE
If you’ve got a partial match, you’ll be given the actual name or account type of the account holder, so you can check and update the details, or contact the person or organisation you’re trying to pay. If you use the right name and account type, we’ll let you know that they match the details the beneficiary bank has so you can carry on creating or editing the beneficiary. We’ll check the details you provide against the details on the payee’s account and let you know the results before you make the payment. For some account types, the destination bank requires additional information to identify the underlying account name, make sure you include this information in the reference section. This is to help you identify the beneficiary in online banking and does not form part of the Confirmation of Payee check The account type - personal or business.Heres how: Go to the bill payment section of your online banking service and select. The account name exactly as it appears on their bank account statement or invoice if you’re paying a business In order to pay through your bank account, you must add us as a new payee.If anything changes – for example, your last name if you get married - please let us know.When you create a new saved beneficiary or edit an existing beneficiary, you’ll need the following information: You can avoid payment delays by keeping your details up-to-date. Lines are open 8am - 6pm Monday to Friday, 9am - 5pm Saturday and Sunday. If you want to opt back in to the Confirmation of Payee service, please call us on 03457 212 212
DRAWEE VS ACCOUNTEE HOW TO
How to opt back into the Confirmation of Payee service If your request to opt out is successful, we'll update your accounts, including any joint accounts you hold (but not any accounts held by joint parties in their sole name). If you still want to opt out of the Confirmation of Payee service, please call us on 03457 212 212
we recommend that all our customers make use of this service so their account is protected.
opting out is only for receiving payments into your account, you will still be asked to input account name details when creating a new payment from your account.by opting out of Confirmation of Payee you may encounter problems with people sending money into your account in the future as they won't be able to verify the name on your account.
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