Confirmation of Payee (CoP) is a payee checking service that helps prevent UK domestic payments from being sent to the wrong account. It does this by making sure the payee account details provided match the details held by their provider.
A payee stores the details of someone you want to send money to - this could be an individual, joint account holders, or a business. Similar to saving a contact, once you've saved someone as a payee, you can easily make future payments to them without re-entering their information.
This guide will walk you through making a payment to a UK bank account. Payment processing is a multi-step process which requires interacting with several resource types. Learn about payments, transactions, submissions and admissions here
Payees provide a way to store a payee name (account-holder) against UK payment details - an account number (account-number) and a sort code (bank-id) - and to easily reference these when making a payment.
Making a payment is a multistep process. There are several resources that you will need to interact with throughout its processing lifecycle which are described below.
This guide will walk you through receiving a payment to one of your accounts. Payment processing is a multi-step process which requires interacting with several resource types. Learn about payments, transactions, submissions and admissions here
Typically Faster Payments are sent immediately after they have been submitted, and received in the creditor's account shortly after that. Withdrawal schedules introduce a delay between payment submission and the payment being sent.