About Confirmation of Payee
When banking online with us, you might have received a message or notification about the Confirmation of Payee Scheme, which has been set up to help keep you safe and secure online.
Here’s all the information you need to know about the scheme, and what it means for you while banking with us.
What is Confirmation of Payee?
Confirmation of Payee is a scheme for electronic payments that the biggest banking groups have introduced. It helps to keep you safe and secure online by double checking name and account details – preventing money going to scams and fraudsters, or ending up with the wrong person.
Is Chester Royal part of the scheme?
Not yet. We’re planning to join the scheme as soon as we can, because we know that safety and security while banking online is a top priority for our customers. We’re working hard to offer you as much reassurance as possible, and joining the scheme is a big part of that.
Why is it important for me?
Until we join the Confirmation of Payee scheme, if your current account provider is part of it, you might get a warning when you try to transfer your money to us. It means that your bank hasn’t been able to check the name of the account holder for the payment you’re trying to send – and that’s because we’re not part of the scheme yet.
For now, as long as you enter the sort code and account number we’ve given you, your money will still safely reach us. Remember to always double check any details before sending money anywhere online, including payments to us.
If you do receive a warning and you’d like to check your details, please give us a call and we’ll be more than happy to check and reassure you.