Product

Confirmation of Payee

Verify UK bank account ownership in real-time with Confirmation of Payee. Prevent APP fraud and misdirected payments.
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Product Overview

Confirmation of Payee (CoP) by Equifax is a real-time UK bank account validation service. It offers a direct link to the UK’s regulated bank network, verifying the name, sort code, and account number before a payment is initiated. By confirming if details are a full, close, or no match, CoP prevents misdirected payments, APP fraud, and supplier impersonation. It supports personal and business accounts, including joint accounts and trading names.

How It’s Used

KYC/KYB
Check customers and confirm account ownership at the point of onboarding to guarantee accurate payments.
Real-Time Status Result
Equifax passes a real-time match status (Full, Close, No Match, or Unable to Verify) back to you instantaneously.
Direct Debit Mandates
Validate customer account ownership before establishing Direct Debit mandates to reduce payment failures and reduce administrative costs.
Seamless API Integration
Integrate Confirmation of Payee within your existing workflows and journeys, enabling actionable data journeys through our existing API gateway.
Ongoing Payee Validation
Protect your payment cycles by regularly validating established payees to ensure that account details remain accurate, active and secure.
Batch Processing
Utilise our automated batch service to periodically validate legacy databases, ensuring your records remain aligned with live bank account data and preventing failed payments.

Key Stats

£459.7 Million
The total amount lost to Authorised Push Payment (APP) fraud in the UK
99%
The CoP network currently covers over 99% of UK bank accounts
99.5%
target availability SLA ensuring 24/7/365 payment protection

Real-Time Name Matching for Payment Security

Organisations face risks of sending funds to the wrong account due to fraud or mistypes details. Confirmation of Payee provides direct, real-time link to the UK's regulated bank network to verify ownership before initiating payments.

Frequently Asked Questions

Yes, it provides comprehensive coverage for both personal and business accounts, including joint accounts and trading names.

Flexible matching rules account for common contractions, single spelling mistakes, or transposed names for high match rates.

We support both. You can use our real-time API to instantly validate details during live customer onboarding, or use our automated batch service to validate thousands of existing records at once.

Yes, the solution includes secondary reference support to easily handle building society roll numbers and credit union details.

It easily integrates via our API for real-time automated checks or through our Equip dashboard for batch processing.

Related Resources

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Confirmation of Payee
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