{"id":116572,"date":"2026-11-02T14:07:49","date_gmt":"2026-11-02T14:07:49","guid":{"rendered":"https:\/\/staging2.zycus.com\/glossary\/?p=116572"},"modified":"2026-11-02T14:07:49","modified_gmt":"2026-11-02T14:07:49","slug":"confirmation-of-payee-uk","status":"publish","type":"post","link":"https:\/\/www.zycus.com\/glossary\/confirmation-of-payee-uk","title":{"rendered":"Confirmation of Payee (UK)"},"content":{"rendered":"

WHAT IS CONFIRMATION OF PAYEE?<\/span><\/b>\u00a0<\/span><\/h2>\n

Confirmation of Payee (CoP)<\/span><\/b> is a UK name-checking service that compares the payee name a payer enters with the name on the receiving bank account before a payment is sent. It returns a match, close match or no match result, and helps banks reduce misdirected payments and fraud.<\/span>\u00a0<\/span><\/p>\n

WHY IT MATTERS IN PROCUREMENT<\/span><\/b>\u00a0<\/span><\/h2>\n

Before CoP, a UK payer could not see whether a name agreed with the sort code and account number. The payment went wherever the numbers pointed. Supplier payments are exposed to this because bank details change by email and invoices are paid in volume.<\/span>\u00a0<\/span><\/p>\n

CoP is led by regulation. The Payment Systems Regulator (PSR) directed a defined set of payment providers to offer it, and Pay.UK sets the rules and standards. The check usually runs inside the bank’s channel, so procurement’s role is to give AP and treasury the exact account name and to <\/span>support payment fraud controls<\/span><\/a>. Scope and dates have changed more than once, so confirm the current position with your bank.<\/span>\u00a0<\/span><\/p>\n

THE CORE PROCESS \/ LIFECYCLE<\/span><\/b>\u00a0<\/span><\/h2>\n