Confirmation of Payee already applies to any payments you receive, so remember, when sending invoices or requesting a payment:
- Provide the payment sender the full name or trading name we hold on your account
- Tell them it’s a business account
This will help to prevent potential delays due to the payment sender receiving a message saying the name they entered doesn't match the details we hold for your account when submitting a payment.
Confirmation of Payee also applies to payments you send, so when paying someone for the first time or making changes to an existing payee/beneficiary you’ll need to:
- Enter the sort code, account number and the full name for the account you are sending money to
- State whether the account you’re paying is a Business or Personal Account
Note: Certain accounts also require a reference to apply the payment to the underlying payee (such as a roll number for some building society accounts). This is called ‘Secondary Reference Data’ (SRD). When required, Confirmation of Payee can also allow customers to check the account name matches the secondary reference details.
We’ll then check this with the recipient bank and confirm to you if the account name and account type match the details you have given to us.