We are making some changes to the way you send money for UK based payments. 'Confirmation of Payee' is a name checking service that allows you to check the name (including personal/business account indicator) you are entering on your new payment instruction is the same as the account name held by the beneficiary’s bank. It will be used when you set up new payees or one-off payments or standing orders through Faster Payments or CHAPS payments. It aims to ensure that you are transferring your money to the right person or business.
How does it work?
Confirmation of Payee is a name checking service that will allow you to check the name and account details you wish to transfer your money to and will be available to you through the following channels:
Online Banking
Mobile Banking
Telephone Banking
To help you decide whether to proceed with making a payment, it will provide responses based on one of these results:
Match
The account details match the intended recipient.
No Match
The account details do not match the intended recipient.
Close Match
The account details are similar to those of the intended recipient.
Unavailable
This means it is not possible to check the account details. This may be due to the bank that you are sending money to doesn’t have the Confirmation of Payee service, or the type of account you are trying to send money does not exist, or may be the result of a technical issue. If presented with a response where it has not been possible to check the account details, please follow the advice presented in the message, do not proceed with the payment, and contact the beneficiary to check the details provided are correct.
When paying someone for the first time, always ensure you have the full and correct name of the person as it is registered on the account, even if it is a family member. Names such as ‘Mum’ or ‘Dad’ will not provide a match.
When paying to an account that is a joint account, only the first and last name of any of the account holders is needed.
You will also be required to select whether the intended recipient of your payment holds a personal or business account. When making the payment, we will let you know if your selection is correct.
If the response you receive is a 'Close Match' or a 'No Match', please check and verify the account details with the person or business you are making the payment to, prior to making the payment. This will help prevent misdirected payments and potential scams.
How does it benefit you?
Confirmation of Payee will help you to be more confident when making payments. It will also help reduce misdirection and fraud, with the intention of keeping your money safe, plus help to combat Authorised Push Payment (APP) Scams. Giving you peace of mind that your money is being sent to the right place.
How to stay and keep others safe?
Confirmation of Payee is an additional control in place to help you stay safe from fraud and scams. Even with the Confirmation of Payee service available, you must still stay vigilant:
Use the
full name of the person you are making the payment to
Check and verify with the person that they are the true and genuine account
holder
Provide your full name to anyone
who intends to make a payment to you
How can you protect yourself from scams?
An APP Scam occurs when a fraudster uses techniques called social engineering to persuade you to send money to another account. Fraudsters will trick you into trusting them before they manipulate you to send money.
They will pressure you into making a decision and more importantly, making a payment. If you feel like you are being pressured into making a payment and if the account details do not match, stop what you are doing immediately and contact CitiPhone. Click here to contact us and view our operating hours.
To find out more about the different types of scams and how to further protect yourself, please click here for more details.
Do I need to do anything different if someone is paying me?
When providing your bank details to a third party so that they can make a payment to your account, we recommend you include your full name as it appears on your Citi account.
Can I opt out of Confirmation of Payee?
You will have the option to opt out of Confirmation of Payee when other people try to pay you. This means that your details won’t be checked when other people are trying to send you money. The person who trying to send you money will receive a message that your details are unable to be checked.
You cannot opt out of Confirmation of Payee when you are the one making a payment to someone else. This service is designed to improve the security of your money and to reduce fraud and scams. You can, however, request to opt out of your details being checked when other people try to pay you.
To opt out of the Confirmation of Payee service, you will need to contact us. Click here to view CitiPhone number and operating hours.
If your application to opt out of Confirmation of Payee is successful, we will inform you of the decision and ensure that your accounts, including any joint accounts in your name are included. Any joint accounts held by a joint party with the account solely in their name will not be included.
Can I opt back in to Confirmation of Payee?
You can opt back into Confirmation of Payee by calling us. Click here to view CitiPhone number and operating hours.
How to get assistance in using Confirmation of Payee
To get assistance in using Confirmation of Payee, please contact us. Click here to view CitiPhone number and operating hours.
How to raise a query or complaint relating to Confirmation of Payee
If you wish to raise a query or complaint relating to Confirmation of Payee, please visit our complaints page.
FAQs
1. What happens if I receive a 'No Match'?
If you receive a result of ‘No Match’, it means the name on the account is incorrect. You should proceed with caution, review the details, and contact the intended payee directly to clarify the details.
If you decide to continue with the payment without confirming the payee details, you are taking the risk that the payment may be sent to the incorrect account, and we may not be able to retrieve the funds.
2. What happens if I receive a 'Close Match'?
If you receive a result of 'Close Match', it means that the account details are similar to those of the account holder. You will be displayed the correct name on the account, and you can proceed with accepting the name and proceeding with the payment.
If you decide to continue without updating the payee details, you are taking the risk that the payment may be sent to the incorrect account, and we may not be able to retrieve the funds.
3. What happens if I receive a result of 'Unavailable'?
If you receive a result of 'Unavailable', this means we cannot check the account details. This may be due to the bank you are sending money to doesn’t have the Confirmation of Payee service or the type of account you are trying to send money to does not support Confirmation of Payee.
It may also mean there is a technical issue.
