Make payments with confidence
Confirmation of Payee helps keep your business and your money safe
When you make Faster Payments or CHAPS payments, we check the name of the person or business you’re paying to make sure your money gets to the right place.
This is called Confirmation of Payee.
When you pay a person or business, we check these details with their bank:
- The name on the account
- The account number
- The sort code
It helps payments go to the correct account, and protects you against fraud.
How does it work?
When you make a payment for the first time, we’ll check the name you enter against the actual name on the account you are sending the payment to. You’ll see one of three messages:
Match – the name check has been successful. You can make the payment.
Partial match – the name you have entered doesn’t completely match. We’ll tell you the correct name held on that account. If you’re happy with this, you can make the payment, or edit the details.
No match – the name you have entered is not the same as the name held on that account. Please contact the person or business you’re paying to check. If you’re happy that the details are correct you can make the payment but we may not be able to get the money back if it goes to the wrong account.
How does it affect people who are paying me?
It’s important that you give people who are paying you your correct account or trading name, as well the sort code and account number. This is the name shown on your bank statement. If they use a name that doesn’t match, they may have problems when trying to pay you.
What should I do?
Always give people who are paying you your correct account or trading name, as well as your sort code and account number. Check that you’ve put the correct name on invoices you send to your customers, so they don’t experience any problems when paying you. Use the full name of the people or businesses you're paying every time you make a payment to increase the chance of getting a match.
We'll start checking names when you make a payment in March 2020. Most major UK banks will also start checking names then as well. Other banks and building societies will introduce the changes throughout 2020.
Look out for messages in Online for Business and Commercial Banking Online when the changes have been made.
We'll only check names on Faster Payments, including Standing Orders, and CHAPS payments.
In Online for Business payments to people or companies from your saved recipient list aren’t checked. You’ll only see name checks when setting up or making a payment to someone for the first time.
You can read more about the changes on Commercial Banking Online in the Support Centre. Click on the question mark icon in Commercial Banking Online to get there.
You should always contact the person or business you’re trying to pay, to check the details you have are correct. You need the name that’s held on the account to get a successful match.
It’s the name shown on your bank statement. You’ll also see it when you log in to Online for Business or Commercial Banking Online.
It’s important that you check with the person or business you’re sending money to that the account details are correct. If you send the money to the wrong place we may not be able to get it back.
*Occasionally we may need to carry out essential maintenance, resulting in some interruption to service.
Important legal information
Lloyds Bank plc. Registered office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales No. 2065. Lloyds Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278. Telephone: 020 7626 1500
Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS). We are covered by the Financial Ombudsman Service (FOS). Please note that due to FSCS and FOS eligibility criteria not all business customers will be covered.
Calls may be monitored or recorded in case we need to check we have carried out your instructions correctly and to help improve our quality of service.