Confirmation of Payee

What is Confirmation of Payee?

Confirmation of Payee is a name checking service which helps reduce misdirected payments by checking the name on the payee’s account before funds are transferred. It provides greater assurance that payments are being sent to the intended account holder, whilst also providing an additional layer of protection to help reduce fraud and scams.

How do I make a payment to my Savings or Mortgage account?

You do it in exactly the same way as you have previously, the only difference is that when you fill in your details you will be presented with a 'Match Type' response before confirming your payment.

As a reminder, here are the details you will need to send a payment to your Buckinghamshire Building Society Savings or Mortgage account:

Account Name: Name on account
Sort Code: 20-01-72
Account Number: 20224448
Reference: This is your building society account number. Please use alpha-numerical characters only ALL CAPITALS, no dashes or slashes (-/)
Personal / Business: Please select as appropriate for your own registration (Personal in most cases) 

What is a 'Match Type'?

There are four possible match types as follows; Match, Close Match, No Match, Unavailable

Match - the name on the account matches the details you typed in.
Close Match - the name on the account is not an exact match. It could be an abbreviated name or a slightly different spelling.
No Match - the payee’s name details don’t match the name on the account.
Unable to Check - the system has been unable to check the details. This could be due to a variety of reasons including system fault, invalid account details or the person has opted-out of the Confirmation of Payee scheme.

What about existing Standing Orders & Direct Debits?

If you have an existing standing order set up with your bank, this will continue as normal unless your bank tell you otherwise. Direct Debits are unaffected by the Confirmation of Payee scheme.

Can I Opt-Out?

The Confirmation of Payee scheme has been set up to protect you and your money, which is why we would only consider an opt-out request in exceptional circumstances. If you would like to opt-out, please contact us: info@bucksbs.co.uk or write to Buckinghamshire Building Society, High Street, Chalfont St Giles, Buckinghamshire, HP8 4QB.

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