When making a payment to a new payee, an organisation using Confirmation of Payee will have the ability to check the account holder’s Name, Sort Code, Account Number and Account Type. There are 4 possible outcomes:
Match ✅ - Confirmation that the details match and you can proceed with your payment
Close match 🤏 - The details are very similar but not a direct match. i.e. John Smith and Mr J Smith
Not a match ❌ - The details do not match and need checking
Unavailable ❓ - This occurs when it is not possible to check the details. i.e. Confirmation of Payee is not supported by the recipient’s bank