{"id":14764,"date":"2024-09-13T13:56:55","date_gmt":"2024-09-13T11:56:55","guid":{"rendered":"https:\/\/trustpair.com\/blog\/confirmation-of-payee-regulation\/"},"modified":"2026-06-01T12:18:31","modified_gmt":"2026-06-01T10:18:31","slug":"confirmation-of-payee-regulation","status":"publish","type":"post","link":"https:\/\/trustpair.com\/gb\/blog\/confirmation-of-payee-regulation\/","title":{"rendered":"Confirmation of Payee (CoP) regulation: all you need to know"},"content":{"rendered":"<div class=\"s-whitespace-pre-wrap s-break-words s-font-normal first:s-pt-0 last:s-pb-0 s-py-1 @md:s-pt-2 @md:s-pb-[10px] @md:s-leading-relaxed s-text-base s-leading-relaxed s-text-foreground dark:s-text-foreground-night\">The Confirmation of Payee (CoP) was launched in 2020 to reduce payment fraud and errors in the UK. Today, CoP covers <strong class=\"s-font-semibold s-text-foreground dark:s-text-foreground-night\">over 99% of Faster Payments and CHAPS transactions<\/strong>, with more than <strong class=\"s-font-semibold s-text-foreground dark:s-text-foreground-night\">70 million checks completed every month<\/strong> as of mid-2025. The EU has now introduced its own equivalent, the Verification of Payee (VoP), which became mandatory for euro area member states in October 2025.<\/div>\n<div class=\"s-whitespace-pre-wrap s-break-words s-font-normal first:s-pt-0 last:s-pb-0 s-py-1 @md:s-pt-2 @md:s-pb-[10px] @md:s-leading-relaxed s-text-base s-leading-relaxed s-text-foreground dark:s-text-foreground-night\">Trustpair is an anti-fraud solution that goes beyond the CoP. Our platform protects your company from third-party fraud, including international suppliers, thanks to <a class=\"s-break-all s-font-semibold s-transition-all s-duration-200 s-ease-in-out hover:s-underline s-text-highlight dark:s-text-highlight-night hover:s-text-highlight-400 dark:hover:s-text-highlight-400-night active:s-text-highlight-dark dark:active:s-text-highlight-dark-night\" title=\"https:\/\/trustpair.com\/gb\/confirmation-of-payee\/\" href=\"https:\/\/trustpair.com\/gb\/confirmation-of-payee\/\" target=\"_blank\" rel=\"noopener noreferrer\">Confirmation of Payee and automated account validation.<\/a><\/div>\n<p><strong>Key Takeaways:<\/strong><\/p>\n<ul>\n<li>The CoP is a UK-based regulation that prevents push payment fraud and payment misdirections.<\/li>\n<li>It\u2019s enforced by PSR and managed by PayUK.<\/li>\n<li>Most PSPs in the country use CoP nowadays.<\/li>\n<li>While useful, this regulation isn\u2019t enough to efficiently protect your business against third-party fraud.<\/li>\n<li>Use Trustpair to ensure you send money to the right recipients, not criminals.<\/li>\n<\/ul>\n<p><!--HubSpot Call-to-Action Code --><\/p>\n<p><span id=\"hs-cta-wrapper-da811cb8-a05b-4781-a174-88c951500f10\" class=\"hs-cta-wrapper\"><span id=\"hs-cta-da811cb8-a05b-4781-a174-88c951500f10\" class=\"hs-cta-node hs-cta-da811cb8-a05b-4781-a174-88c951500f10\"><!-- [if lte IE 8]>\n\n\n\n\n\n\n\n<div id=\"hs-cta-ie-element\"><\/div>\n\n\n\n\n\n\n\n<![endif]--><a href=\"https:\/\/cta-redirect.hubspot.com\/cta\/redirect\/5278241\/da811cb8-a05b-4781-a174-88c951500f10\"><img decoding=\"async\" id=\"hs-cta-img-da811cb8-a05b-4781-a174-88c951500f10\" class=\"hs-cta-img\" style=\"border-width: 0px;\" src=\"https:\/\/no-cache.hubspot.com\/cta\/default\/5278241\/da811cb8-a05b-4781-a174-88c951500f10.png\" alt=\"New call-to-action\" \/><\/a><\/span><script charset=\"utf-8\" src=\"https:\/\/js.hscta.net\/cta\/current.js\"><\/script><script type=\"text\/javascript\"> hbspt.cta.load(5278241, 'da811cb8-a05b-4781-a174-88c951500f10', {\"useNewLoader\":\"true\",\"region\":\"na1\"}); <\/script><\/span><\/p>\n<p><!-- end HubSpot Call-to-Action Code --><\/p>\n<h2 id=\"what-is-confirmation-of-payee\">What is confirmation of payee?<\/h2>\n<p><a href=\"https:\/\/trustpair.com\/gb\/confirmation-of-payee\/\">Confirmation of Payee (CoP)<\/a> is a <strong>verification system that checks if the name on the bank account matches the name of the intended recipient<\/strong>. CoP is used in the UK for digital payments for both personal and business accounts. To ensure the information is correct, users have to go through it when they:<\/p>\n<ul>\n<li>Send a transfer to a new payee,<\/li>\n<li>Establish a new standing order or <a href=\"https:\/\/trustpair.com\/gb\/blog\/direct-debit-rules-for-companies\/\">direct debit<\/a>,<\/li>\n<li>Update payee sort code account number to other credentials.<\/li>\n<\/ul>\n<p>The goal of the confirmation of payee regulation? To lower transfers sent to the wrong account, either through:<\/p>\n<ol>\n<li>Typing mistakes when entering the bank account details (sort code, bank account numbers, and name).<\/li>\n<li>Scams luring victims into sending money, like with <a href=\"https:\/\/trustpair.com\/gb\/blog\/authorized-push-payment-fraud-understanding-and-preventing-the-growing-threat\/\">Authorized Push Payment (APP) fraud.<\/a><\/li>\n<\/ol>\n<h2 id=\"how-does-cop-work\">How does CoP work?<\/h2>\n<div class=\"s-whitespace-pre-wrap s-break-words s-font-normal first:s-pt-0 last:s-pb-0 s-py-1 @md:s-pt-2 @md:s-pb-[10px] @md:s-leading-relaxed s-text-base s-leading-relaxed s-text-foreground dark:s-text-foreground-night\">When entering a new recipient&#8217;s bank details, the payer must provide the recipient&#8217;s name. The CoP service automatically and instantaneously checks whether that name matches the account records at the receiving bank.<\/div>\n<div class=\"s-whitespace-pre-wrap s-break-words s-font-normal first:s-pt-0 last:s-pb-0 s-py-1 @md:s-pt-2 @md:s-pb-[10px] @md:s-leading-relaxed s-text-base s-leading-relaxed s-text-foreground dark:s-text-foreground-night\">There are four possible responses:<\/div>\n<ol class=\"s-list-decimal s-pb-2 s-pl-6 s-flex s-flex-col s-gap-1 s-text-foreground dark:s-text-foreground-night s-text-base s-leading-relaxed\">\n<li class=\"s-break-words s-text-foreground dark:s-text-foreground-night s-text-base s-leading-relaxed\"><strong class=\"s-font-semibold s-text-foreground dark:s-text-foreground-night\">YES<\/strong>\u00a0\u2013 All details match (sort code, account number, and name).<\/li>\n<li class=\"s-break-words s-text-foreground dark:s-text-foreground-night s-text-base s-leading-relaxed\"><strong class=\"s-font-semibold s-text-foreground dark:s-text-foreground-night\">NO, BUT CLOSE<\/strong>\u00a0\u2013 The name is a near-match, likely due to a typo (e.g. &#8220;John Smithh&#8221; instead of &#8220;John Smith&#8221;).<\/li>\n<li class=\"s-break-words s-text-foreground dark:s-text-foreground-night s-text-base s-leading-relaxed\"><strong class=\"s-font-semibold s-text-foreground dark:s-text-foreground-night\">NO<\/strong>\u00a0\u2013 The account name does not match records.<\/li>\n<li class=\"s-break-words s-text-foreground dark:s-text-foreground-night s-text-base s-leading-relaxed\"><strong class=\"s-font-semibold s-text-foreground dark:s-text-foreground-night\">DATA UNAVAILABLE<\/strong>\u00a0\u2013 There was a system error, or the account is not valid.<\/li>\n<\/ol>\n<div class=\"s-whitespace-pre-wrap s-break-words s-font-normal first:s-pt-0 last:s-pb-0 s-py-1 @md:s-pt-2 @md:s-pb-[10px] @md:s-leading-relaxed s-text-base s-leading-relaxed s-text-foreground dark:s-text-foreground-night\">If the details do not match, the payer is asked whether they wish to proceed. <strong class=\"s-font-semibold s-text-foreground dark:s-text-foreground-night\">While the payment sender always has the final say, CoP places the responsibility on the payer to double-check details<\/strong> in the event of any inconsistency (responses 2, 3, or 4).<\/div>\n<div class=\"s-whitespace-pre-wrap s-break-words s-font-normal first:s-pt-0 last:s-pb-0 s-py-1 @md:s-pt-2 @md:s-pb-[10px] @md:s-leading-relaxed s-text-base s-leading-relaxed s-text-foreground dark:s-text-foreground-night\">To be effective, CoP must take place before the payment is initiated. It operates as a peer-to-peer service via API, with no centralised infrastructure.<\/div>\n<h2 id=\"what-is-the-cop-calendar\">What is the CoP calendar?<\/h2>\n<div class=\"s-whitespace-pre-wrap s-break-words s-font-normal first:s-pt-0 last:s-pb-0 s-py-1 @md:s-pt-2 @md:s-pb-[10px] @md:s-leading-relaxed s-text-base s-leading-relaxed s-text-foreground dark:s-text-foreground-night\">CoP was <strong class=\"s-font-semibold s-text-foreground dark:s-text-foreground-night\">introduced in the UK in June 2020<\/strong>, initially mandatory for the six largest banks as directed by the <a class=\"s-break-all s-font-semibold s-transition-all s-duration-200 s-ease-in-out hover:s-underline s-text-highlight dark:s-text-highlight-night hover:s-text-highlight-400 dark:hover:s-text-highlight-400-night active:s-text-highlight-dark dark:active:s-text-highlight-dark-night\" title=\"https:\/\/trustpair.com\/gb\/blog\/payment-services-regulation-2024\/\" href=\"https:\/\/trustpair.com\/gb\/blog\/payment-services-regulation-2024\/\" target=\"_blank\" rel=\"noopener noreferrer\">Payment Systems Regulator (PSR)<\/a>.<\/div>\n<div class=\"s-whitespace-pre-wrap s-break-words s-font-normal first:s-pt-0 last:s-pb-0 s-py-1 @md:s-pt-2 @md:s-pb-[10px] @md:s-leading-relaxed s-text-base s-leading-relaxed s-text-foreground dark:s-text-foreground-night\">The regulation has since been extended in stages:<\/div>\n<ul class=\"s-list-disc s-pb-2 s-pl-6 s-flex s-flex-col s-gap-1 s-text-foreground dark:s-text-foreground-night s-text-base s-leading-relaxed\">\n<li class=\"s-break-words s-text-foreground dark:s-text-foreground-night s-text-base s-leading-relaxed\"><strong class=\"s-font-semibold s-text-foreground dark:s-text-foreground-night\">June 2020<\/strong>: Group 1 (the six largest banks) required to implement CoP.<\/li>\n<li class=\"s-break-words s-text-foreground dark:s-text-foreground-night s-text-base s-leading-relaxed\"><strong class=\"s-font-semibold s-text-foreground dark:s-text-foreground-night\">October 2023<\/strong>: Expanded Group 1 PSPs required to comply.<\/li>\n<li class=\"s-break-words s-text-foreground dark:s-text-foreground-night s-text-base s-leading-relaxed\"><strong class=\"s-font-semibold s-text-foreground dark:s-text-foreground-night\">October 2024<\/strong>: All remaining PSPs handling Faster Payments and CHAPS (Group 2) brought into scope, covering\u00a0<strong class=\"s-font-semibold s-text-foreground dark:s-text-foreground-night\">99% of all relevant transactions<\/strong>.\u00a0\n<div>\n<div class=\"group flex flex-row items-center justify-center space-x-1 rounded-lg bg-muted-background p-1 text-xs font-medium text-muted-foreground dark:bg-muted-background-night dark:text-muted-foreground-night\">\u00a0<\/div>\n<\/div>\n<\/li>\n<\/ul>\n<div class=\"s-whitespace-pre-wrap s-break-words s-font-normal first:s-pt-0 last:s-pb-0 s-py-1 @md:s-pt-2 @md:s-pb-[10px] @md:s-leading-relaxed s-text-base s-leading-relaxed s-text-foreground dark:s-text-foreground-night\">By July 2025, the volume of CoP checks had grown from 14,000 per month at launch to over <strong class=\"s-font-semibold s-text-foreground dark:s-text-foreground-night\">70 million per month<\/strong> \u2014 a clear sign of how embedded CoP has become in the UK payments landscape.\n<div>\n<div class=\"group flex flex-row items-center justify-center space-x-1 rounded-lg bg-muted-background p-1 text-xs font-medium text-muted-foreground dark:bg-muted-background-night dark:text-muted-foreground-night\">\n<div class=\"flex h-3 w-3 items-center justify-center\">\n<div class=\"s-relative s-flex s-items-center s-justify-center s-w-3 s-h-3\">\u00a0<\/div>\n<\/div>\n<\/div>\n<\/div>\nThe system is now widely recognised as a foundational anti-fraud tool.<\/div>\n<div class=\"s-whitespace-pre-wrap s-break-words s-font-normal first:s-pt-0 last:s-pb-0 s-py-1 @md:s-pt-2 @md:s-pb-[10px] @md:s-leading-relaxed s-text-base s-leading-relaxed s-text-foreground dark:s-text-foreground-night\">The EU has since introduced its equivalent: the <strong class=\"s-font-semibold s-text-foreground dark:s-text-foreground-night\">Verification of Payee (VoP)<\/strong>, which became mandatory for all euro area payment service providers on <strong class=\"s-font-semibold s-text-foreground dark:s-text-foreground-night\">9 October 2025<\/strong> under the EU Instant Payments Regulation.\n<div>\n<div class=\"group flex flex-row items-center justify-center space-x-1 rounded-lg bg-muted-background p-1 text-xs font-medium text-muted-foreground dark:bg-muted-background-night dark:text-muted-foreground-night\">\n<div class=\"flex h-3 w-3 items-center justify-center\">\n<div class=\"s-relative s-flex s-items-center s-justify-center s-w-3 s-h-3\">\u00a0<\/div>\n<\/div>\n<\/div>\n<\/div>\nNon-euro EU member states have until July 2027 to comply. Learn more in our dedicated article: <a class=\"s-break-all s-font-semibold s-transition-all s-duration-200 s-ease-in-out hover:s-underline s-text-highlight dark:s-text-highlight-night hover:s-text-highlight-400 dark:hover:s-text-highlight-400-night active:s-text-highlight-dark dark:active:s-text-highlight-dark-night\" title=\"https:\/\/trustpair.com\/gb\/blog\/verification-of-payee\/\" href=\"https:\/\/trustpair.com\/gb\/blog\/verification-of-payee\/\" target=\"_blank\" rel=\"noopener noreferrer\">Verification of Payee (VoP): is it enough to fight fraud?<\/a><\/div>\n<p>Learn more about VoP in our latest Fraud Flash series!<\/p>\n<p><iframe title=\"Verification of Payee Explained: How it Works &amp; Its Limitations to Prevent Fraud\" width=\"800\" height=\"450\" src=\"https:\/\/www.youtube.com\/embed\/WaY7ZSHyXAA?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<p><!--HubSpot Call-to-Action Code --><\/p>\n<p><!-- end HubSpot Call-to-Action Code --><\/p>\n<h2 id=\"which-banks-are-part-of-the-confirmation-of-payee-regulation\">Which banks are part of the confirmation of payee regulation?<\/h2>\n<div class=\"s-whitespace-pre-wrap s-break-words s-font-normal first:s-pt-0 last:s-pb-0 s-py-1 @md:s-pt-2 @md:s-pb-[10px] @md:s-leading-relaxed s-text-base s-leading-relaxed s-text-foreground dark:s-text-foreground-night\">CoP was <strong class=\"s-font-semibold s-text-foreground dark:s-text-foreground-night\">established by the Payment Systems Regulator (PSR)<\/strong> and is managed by Pay.UK, which connects payment service providers, businesses, and customers through the CoP framework.<\/div>\n<div>\u00a0<\/div>\n<div class=\"s-whitespace-pre-wrap s-break-words s-font-normal first:s-pt-0 last:s-pb-0 s-py-1 @md:s-pt-2 @md:s-pb-[10px] @md:s-leading-relaxed s-text-base s-leading-relaxed s-text-foreground dark:s-text-foreground-night\">While the major high street banks (Barclays, Halifax, HSBC, Nationwide, and others) were among the first required to join, adoption has since spread broadly. PSPs that are not directly mandated can also voluntarily join via aggregators such as SurePay, Bottomline, and Banfico, which connect third-party providers to the Pay.UK CoP system.<\/div>\n<div>\u00a0<\/div>\n<div class=\"s-whitespace-pre-wrap s-break-words s-font-normal first:s-pt-0 last:s-pb-0 s-py-1 @md:s-pt-2 @md:s-pb-[10px] @md:s-leading-relaxed s-text-base s-leading-relaxed s-text-foreground dark:s-text-foreground-night\">In the EU, the arrival of <a class=\"s-break-all s-font-semibold s-transition-all s-duration-200 s-ease-in-out hover:s-underline s-text-highlight dark:s-text-highlight-night hover:s-text-highlight-400 dark:hover:s-text-highlight-400-night active:s-text-highlight-dark dark:active:s-text-highlight-dark-night\" title=\"https:\/\/trustpair.com\/gb\/blog\/psd3-the-main-changes-to-come-for-your-business\/\" href=\"https:\/\/trustpair.com\/gb\/blog\/psd3-the-main-changes-to-come-for-your-business\/\" target=\"_blank\" rel=\"noopener noreferrer\">PSD3<\/a> will further reshape the regulatory landscape, with VoP applying to all SEPA credit transfers.<\/div>\n<h2 id=\"why-is-the-confirmation-of-payee-regulation-not-enough-to-stop-fraud\">Why is the confirmation of payee regulation not enough to stop fraud?<\/h2>\n<h3 id=\"an-incomplete-protection\">An incomplete protection<\/h3>\n<p>While the Confirmation of Payee regulation was much needed to prevent push payment APP fraud, it <strong>isn\u2019t enough to protect businesses against fraud<\/strong>. CoP only checks if the name on a recipient\u2019s account matches with the intended beneficiary. That\u2019s not nearly enough protection against common types of B2B payment fraud, where scammers come up with elaborate payment schemes.<\/p>\n<p>For example in <a href=\"https:\/\/trustpair.com\/gb\/vendor-fraud-prevention\/\">vendor fraud<\/a>, criminals can create a fake company and ask you to pay for invoices for services or goods never delivered. The CoP would come back clear because the information matches, but it doesn\u2019t help to check if the transaction is legal or legitimate.<\/p>\n<p>Moreover, the CoP regulation only covers transfers sent to the UK. For companies with international suppliers, this creates a massive security gap. Scammers often have bank accounts located abroad, meaning the CoP doesn\u2019t actually protect you against cybercriminal activity. Lastly, CoP still requires manual validation of payments \u2014 a task that\u2019s both inefficient and error-prone.<\/p>\n<h3 class=\"s-pb-2 s-pt-4 s-heading-lg s-text-foreground dark:s-text-foreground-night\" class=\"s-pb-2 s-pt-4 s-heading-lg s-text-foreground dark:s-text-foreground-night\" id=\"using-trustpair-for-complete-fraud-protection\">Using Trustpair for Complete Fraud Protection<\/h3>\n<p>Fortunately, there is a solution that covers all the failings of the CoP and provides complete protection: Trustpair. Trustpair is an <strong>anti-fraud software that secures your payment chain from end to end. <\/strong><\/p>\n<p>Our solution automatically checks your suppliers\u2019 bank account information to ensure your recipients are who they say they are.<\/p>\n<p>Our software uses three-way matching to establish:<\/p>\n<ul>\n<li>The bank account exists and is valid,<\/li>\n<li>The name is correct,<\/li>\n<li>Both sets of information match.<\/li>\n<\/ul>\n<p>Where CoP only does a name match, we go in-depth to ensure the validity and legitimacy of the bank account you\u2019re about to send funds to. We go further than CoP as we check account credentials against international databases \u2014 making working with vendors abroad 100% safe.<\/p>\n<p>The automated account validation is done in real-time, in the background, so you always know who you\u2019re paying. We use AI to identify suspicious activity and stop any fraudulent-looking transfer from being sent. Using Trustpair is safer and quicker than using manual validation method such as the CoP validation.\u00a0<\/p>\n<div class=\"s-whitespace-pre-wrap s-break-words s-font-normal first:s-pt-0 last:s-pb-0 s-py-1 @md:s-pt-2 @md:s-pb-[10px] @md:s-leading-relaxed s-text-base s-leading-relaxed s-text-foreground dark:s-text-foreground-night\"><a class=\"s-break-all s-font-semibold s-transition-all s-duration-200 s-ease-in-out hover:s-underline s-text-highlight dark:s-text-highlight-night hover:s-text-highlight-400 dark:hover:s-text-highlight-400-night active:s-text-highlight-dark dark:active:s-text-highlight-dark-night\" title=\"https:\/\/trustpair.com\/gb\/confirmation-of-payee\/\" href=\"https:\/\/trustpair.com\/gb\/confirmation-of-payee\/\" target=\"_blank\" rel=\"noopener noreferrer\">Discover how Trustpair&#8217;s Confirmation of Payee solution works.<\/a><\/div>\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Confirmation of Payee (CoP) was launched in 2020 to reduce payment fraud and errors in the UK. Today, CoP covers over 99% of Faster Payments and CHAPS transactions, with more than 70 million checks completed every month as of mid-2025. The EU has now introduced its own equivalent, the Verification of Payee (VoP), which [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":14765,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[114],"tags":[],"class_list":["post-14764","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-compliance-finance-gb"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Confirmation of payee regulation: all you need to know - Trustpair<\/title>\n<meta name=\"description\" content=\"CoP is a regulation in place in the UK to increase payment safety. 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