Confirmation of Payee (CoP)

Ensuring your payments reach the right account

With the rise of online banking and digital transactions, the risk of misdirected payments and fraud has also increased. That’s why we’ve introduced Confirmation of Payee (CoP) to give you peace of mind by verifying the account details of the person or business you are paying.

When you set up a new beneficiary, CoP checks the provided account details against the registered details of the recipient. This verification process helps to confirm that the account details match the intended recipient, reducing the risk of errors and fraud. Whether you are making a one-time payment or setting up a recurring transaction, CoP ensures that your money goes to the right place.

Confirmation of Payee helps to:

• Reduce fraud: By verifying that payments are sent to the correct account, minimising the risk of fraudulent transactions.
• Increase accuracy: Ensuring that the account details match the intended recipient, CoP reduces the likelihood of errors.
• Give you peace of mind: With CoP in place, you can always be sure that your payments are going to the right place, providing you with confidence and security.

Our CoP service is easy to use and integrates seamlessly with your existing payment processes. Whether you are a business making regular payments to suppliers or an individual sending money to family and friends, CoP helps to safeguard your transactions.

How CoP works

When you add a new UK/GBP beneficiary, CoP checks the provided account details and responds with one of the following:

• Match: The account details are correct, and the beneficiary can be created.
• Partial Match: The details are similar but not an exact match. You can choose to update the details or accept the risk and continue.
• No Match: The details do not match. You will need to check the account details with the person you’re paying and correct the information before proceeding. 

Additional responses

• Cannot Verify: The account cannot be verified due to various reasons such as the beneficiary opting out of CoP checks, or the account being switched to another institution.
• CoP Not Available: If there is an issue with the CoP system, you will be prompted to try again later.
• Account Reference Required: Some accounts need an additional reference for verification. Ensure you provide this to proceed.