How does Confirmation of Payee actually work?

When you make a payment to a new payee, add a payee for the first time, or update an existing payee’s account details in your online payee list, a Confirmation of Payee check will automatically take place.

This service compares the account details you’ve entered with the information held by the recipient’s bank and informs you whether there’s a ‘match’, ‘close match’, or no match at all. This helps guide your next steps and gives you added confidence that your payment is being sent to the correct account.