Confirmation of Payee Service

What is Confirmation of Payee (CoP)?

We’ve recently introduced Confirmation of Payee service (CoP). CoP is a name-checking service to make sure UK based payments aren't sent to the wrong account and helps protect you from fraud. It helps keep your money and accounts safe by checking the name on the payee’s (person who’s being paid) account before funds are sent to us.

How do I make a payment?

When you’re setting up a new payment or amending an existing payment, the Payee details are checked. So, when you send money electronically to your savings or mortgage account here with us, it's important that you include your full name (or business name), as it appears on your account. You’ll also need the following account details:

Sort code 20-17-55
Account number 40338346
Your reference: This is your account number with us. It usually begins with a CB0 (number zero, not the letter O)

What will I see?

CoP is an additional step in the payment process to ensure you’ve checked the Payee details. When you’re ready to send your payment to your account with us you will see one of the following responses;

Match - the name on the account matches and you can continue with the payment if you’re happy to do so

Close match - the name on the account is not an exact match. It could be an abbreviated name or perhaps a spelling mistake. If you recognise the closely matched name, you can choose to continue or double check the payee details before continuing with the payment

No match - the payee’s name details don’t match the name on the account. It’s very important that you double check the payee’s details to make sure you’re sending funds to the right place. You can still make the payment, but if you are in any doubt, don’t continue.

Why is the Barclays Name or Logo displayed?

When receiving a name match response, you may see within the payment confirmation screen that Barclays Bank PLC (or their logo) is displayed, along with the correct sort code 20-17-55, account number 40338346 and your name, rather than detailing The Cambridge Building Society (or our logo). This is because all money transfers are processed through our Head Office Collection Account with Barclays Bank.

What if I’m paying into a joint account?

You’ll only need to enter the full name of one of the account holders.

Paying into a new account with us?

A name match may not be possible if you’re sending funds to an account that you’ve recently opened with us, as it can take up to 48 hours for the new account details with us to appear within the CoP name checking system. So please try again later.

Can I opt out of CoP?

The purpose of the CoP service is to protect you and your money from fraudsters and scammers. It’s also there to ensure your payment goes to the correct person. That’s why there are very limited circumstances where we would consider a request from a customer to opt out of the service (checking and confirming your account name matches).

If you feel you need to opt out, please contact us so that we can understand your circumstances and consider your request.

Help protect yourself against fraud.

Please only make payments if you are satisfied it is going to the correct account and genuine payee. Do not feel pressured into making a payment, especially if there is a “No Match” payee.

Also, please get in touch with us straight away and let us know about any concerns if you think you may have been targeted as part of a scam. Please also contact Action Fraud on 0300 123 2040 or visit www.actionfraud.police.uk/.

We want our members to feel comfortable and confident about accessing their savings accounts and mortgages online. Here's how you can stay safe online and the steps we've taken to keep you secure. Read the guide here.