The Confirmation of Payee scheme has been introduced across the UK banking industry in an attempt to reduce payments fraud and make bank transfers safer. The scheme verifies whether the account name entered in a payment instruction matches the account name of the recipient. 

When you set up a new payee in app (or amend an existing one) you will see an extra check that determines whether the name is a “match”, a ‘close match” or there is “no match” to the name held by the receiving bank. If the details don't match for whatever reason, we'll let you know before you make the payment so you can decide whether you would like to go ahead with the payment.