Confirmation of Payee (CoP) is a messaging service introduced to help prevent fraud and payments being sent to the wrong account, keeping your money safe and secure.

What payments and account types will CoP apply to?

CoP covers all payments made from and to GBP accounts in the UK that have a sort code and account number. CoP focuses on Faster Payments, BACS, CHAPS and standing orders.

How will it affect me?

CoP is being added to your account in two stages; the first for payments arriving into your account, and the second for payments leaving your account.

At present, CoP will only assist with the first stage.

To support this, the person or business sending you the money must ensure they have the correct account details for you. This includes:

• Your full name or your registered business name, exactly as it appears in your account.
• Your sort code and account number.

It’s important to let us know as soon as possible if your personal details change at all.

We will be adding the functionality that allows you to verify outgoing payments to UK accounts in the near future.