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What is Confirmation of Payee?
Confirmation of Payee is a regulatory requirement for most Banks and Building Societies in the UK. It is regulated by the Payment Systems Regulator and supported by Pay.UK.
Confirmation of Payee is an account name-checking service that ensures the name you provide when setting up a new payee for electronic payments, matches the account holder’s name registered with the receiving bank. This process helps reduce errors and prevent fraud by confirming the intended recipient before the payment is processed.
How does it work?
When you enter the details of your Kent Reliance savings account into your online banking app or website to add a new payee, Confirmation of Payee checks if the name matches the account details. You'll receive one of three outcomes:
Full Match
The name matches the account name, allowing you to proceed with the payment.
Partial Match
The name is similar but not exact. You should verify the details before proceeding.
No Match
The name does not match the account name. It is advised not to proceed without further verification. Failing to verify the details could result in your payment being sent to the wrong account, and in some cases, it may not be possible to recover the funds.
Other responses
In some cases, you may encounter other responses, such as a system issue or the recipient's bank not participating in the Confirmation of Payee scheme. It is advisable to verify the name and account details entered before proceeding with a payment in such instances.
Will Confirmation of Payee work for all payments?
Confirmation of Payee checks only apply when you set up a new payment to your Kent Reliance savings account. For payments out of your Kent Reliance account Confirmation of Payee is not enabled, because these are limited to your nominated account, making Confirmation of Payee unnecessary.
Please be aware that Confirmation of Payee checks will not be available until the day after your account is opened. If you choose to fund your savings account on the same day it is opened, Confirmation of Payee validation will not be available. You can still make the payment as usual, but it will not undergo Confirmation of Payee checks and you may be presented with a message stating that Confirmation of Payee is unavailable.
Why is Confirmation of Payee important?
Confirmation of Payee adds an additional layer of security, helping to prevent payments from being sent to the wrong account, which is particularly crucial in combating fraud and errors.
Can I opt-out of Confirmation of Payee?
Opting out is only possible under exceptional circumstances. For the service to work effectively, it’s crucial that as many people as possible are enrolled.
You can request to opt out of having your details verified when others attempt to pay you, but be aware that this could discourage them from completing the payment, as your account won’t appear for matching.
If you still wish to opt out of Confirmation of Payee, we will consider your request. Please complete and return the Confirmation of Payee opt in-out request form.
40KBYou can also choose to opt back into the service by using the same form.
What if I’m receiving a payment?
To ensure smooth transactions, provide the payer with your name exactly as it appears on your account to avoid any mismatches during the Confirmation of Payee process.
Is my personal data secure?
Yes, Confirmation of Payee checks are carried out securely, and the information shared is used solely to verify account details, ensuring your data remains protected.
How can I find out more information about Confirmation of Payee?
More information about Confirmation of Payee can be found on the Pay.UK website here.
I want to make a complaint about Confirmation of Payee, who can I contact?
If you are unhappy with any of our services, details of how to contact us can be found here.