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Confirmation of Payee


Greater Assurance When Sending Money

Provide peace of mind that payments are going to the correct beneficiary

Confirmation of Payee (CoP) is a new industry-wide response and one of the many ways the finance industry is tackling Authorised Push Payments (APP) fraud in the UK.

In a nutshell, it gives customers (both personal and business) greater assurance that they are sending payments to the intended recipient, helping to avoid making accidental, misdirected payments to the wrong account holder.

Typically, when a customer or business sets up a new payee or amends an existing payee’s details, Confirmation of Payee will enable them to confirm whether the details they have entered match the account of the person or organisation they are paying.

Remember, Criminals, are experts at impersonating people, businesses and the police. They spend hours researching your business for their scams, hoping you will let your guard down for just a moment.

Always follow the advice of the Take Five to Stop Fraud campaign:

Stop -  If you receive a request to make an urgent payment, change supplier bank details or provide financial information, take a moment to stop and think.
Challenge - Could it be fake? Verify all payments and supplier details directly with the company on a known phone number or in-person first.
Protect - Contact your business’s bank immediately if you think you’ve been scammed and report it to Action Fraud.

The Benefits of Confirmation of Payee


So... How Does CoP Work?


Payment transactions rely on the sort code and account number are to reference an account held by another financial institution and Confirmation of Payee adds an additional layer of protection before a payment is actually made.

When a customer sets up a new payee or amends an existing payee’s details, they will be able to verify that the account belongs to the person or business they intend to pay before making the payment. This is because the bank will be able to check if the name supplied matches the one it holds for that account.

There are four main possible outcomes to the Confirmation of Payee check when a customer is making a payment:

Yes - Match

No - Close Match

No Match - Check Before Proceeding Further

Confirmation of Payee Unavailable

Confirmation of Payee


Inbound & Outbound

If you are Bank and want to comply with the Confirmation of Payee Legislation. You will need to ensure that you can both send the Confirmation of Payee request to another Bank and also be ready to respond to any Confirmation of Payee Requests that you receive from another Bank.

allpay has developed a Confirmation of Payee Solutions for ASPSPs that:

Allow you to receive and respond to requests (CoP In)

Send requests when making a payment (CoP Out)

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