Confirmation of payee
2 min read
Confirmation of payee
Keeping your payments secure
What is Confirmation of Payee?
Confirmation of Payee is a name checking service designed for UK based payments to help reduce misdirected payments, whilst providing a greater assurance that payments are being sent and collected from the intended account holder.
How does Confirmation of Payee work?
Confirmation of Payee ensures an account name and details are checked (including both personal and business accounts) before initiating a payment. When you set up a new payment to us, we'll let you know whether the details are a match, partial match, no match or unavailable.
Why do we need a Confirmation of Payee?
Ensuring payments are sent and received to their intended account holder correctly and securely, is paramount when looking after your money. A Confirmation of Payee can help to protect individuals and businesses against certain types of fraud, prevent payments like CHAPS, Faster Payments, and Standing Orders from being sent to the wrong account.
Can I opt out?
All eligible customers have been automatically opted into this service. You can request to opt out by completing a Confirmation of Payee Request Form, available on our website, in branch or by calling us on 0121 557 2551. We will then review your request within one month and let you know the outcome. Please note, we'll only agree to opt out requests in exceptional circumstances.
If I've opted out, how do I opt back in?
Please request a Confirmation of Payee Request Form, available on our website, in branch or calling us on 0121 557 2251. We'll then review your request within one calendar month.
Confirmation of payee form
Our savings customers say
- 7/7
"When I was looking to open a savings account I wanted somewhere local that could keep my money safe and secure, so I could have peace of mind that my savings were being carefully looked after.
"I chose Tipton & Coseley because it is conveniently located for me and was recommended by a friend. When I went in one of the advisers sat down with me and listened to what I wanted for my savings and they then recommended a savings account that was suitable for me. I left feeling happy and at ease that my savings were securely deposited.
"I have been with the Tipton for over 20 years now and always will be, they give me everything I need from a building society and are always happy to help. I've never had any issues, and during my time with them the friendly approach and excellent service has never faltered.
"Their branches are a great place to visit, there is always a friendly member of staff on hand to help and listen to my needs. Whenever I'm there I'm dealt with quickly, on a one to one basis making each visit convenient and ideal.
"I have always recommended Tipton & Coseley to my family and friends and will continue to do so."
Mrs Cooke, Savings Customer - 7/7
"When I first joined Tipton & Coseley I was looking for somewhere safe and secure to save my money. I approached the Tipton as they are local and I’d heard they were a safe, family orientated building society.
"When I first visited them I sat down with one of their employees who listened to my needs. They gave me advice on what account would be best for me and I was given real peace of mind that my savings would be carefully looked after. I know there is always advice available should I need it and the staff at the Tipton are always there to let me know what is best for me.
"I have stayed with the Tipton ever since and I wouldn’t go anywhere else. Everyone who works there is always happy to help. The service you receive is excellent, and as a regular customer you get to know the branch staff so, unlike many other banks and building societies, going into a branch is like going to see family. The staff are really friendly and welcoming and always ask how I am and I feel like I can have a chat with them.
"I have recommended Tipton & Coseley to my family and friends many times and know that many have taken me up on the recommendation."
Mrs Thomson, Savings Customer - 7/7
I was a new customer of The Tipton and was somewhat apprehensive of the service I might receive from an organisation I did not know. I need not have worried.
The bond was opened on the same day they received the application and I received confirmation the next day. There was a nice personal letter from the Society, including a phone number to contact in case of a problem.
However, everything was in order and I am delighted with the service I received. I have dealt with many banks and building societies over the years and yours sets the standard of service.
Ms P, Savings Customer