Confirmation of Payee

From ACT Wiki
Revision as of 13:59, 23 December 2019 by Doug Williamson (Talk | contribs) (Create page. Sources: The Treasurer, December 2019 p29 and PSR webpage https://www.psr.org.uk/sites/default/files/media/PDF/PSR-CP-19-4-CoP-specific-direction-consultation-May-2019.pdf)

(diff) ← Older revision | Latest revision (diff) | Newer revision → (diff)
Jump to: navigation, search

1. UK financial regulation - Payment Services Regulator (PSR).

(CoP).

Confirmation of Payee is a name-checking service that has been identified by the PSR and payments industry as an important tool to help prevent APP fraud and accidentally misdirected payments.

The service checks whether the name of the account that a payer is sending money to matches the name they have entered.


2.

Similar services in other jurisdictions.


See also