How Confirmation of Payee works
When you set up a new payment, CoP checks whether the name you’ve entered matches the name on the receiving account. If there’s a mismatch, you should receive a warning before the payment goes through.
This is one of the most effective fraud prevention tools available. A mismatch between the name you expect to pay and the actual account holder is a strong indicator that something is wrong.
Which banks are required to use CoP
The PSR has directed the UK’s largest payment service providers to implement CoP. Most major banks now offer it, though some smaller providers may not yet be fully compliant.
If your bank was required to implement CoP and failed to apply it to your payment, this is a clear regulatory breach that supports your claim.
Why CoP failures strengthen your claim
If your bank processed a payment without CoP checks — or applied CoP and received a mismatch but didn’t adequately warn you — they have failed in a specific, documented duty.
This is one of the strongest arguments in fraud claims, particularly for invoice fraud and purchase fraud where the payee name is likely to be different from the account holder.