Question 2 of 12 about Confirmation of Payee

Why is Confirmation of Payee being introduced?

Confirmation of Payee (CoP) has been introduced to help prevent fraud and payments being sent to the wrong account, keeping your money and accounts safe.

CoP lets you check you have the correct name for the person or business you’re paying, which can help to protect against certain types of fraud (and helps to prevent payments going to the wrong account, too).