Confirmation of Payee is a UK name checking service that helps you check that new payments, like one off payments, bills and standing orders, are sent to the right person or business. It can also help avoid certain types of Authorised Push Payment Scams. It does this by:
Confirmation of Payee will be launched in two stages for Revolut. The first, is outbound payments or more simply when you send or make a payment to a payee. In the future, we’ll be looking to introduce the functionality to have your Revolut account details confirmed to a payer looking to send you a payment. We’ll keep you informed when this functionality becomes available.
Sending a payment
It’s always important to check you have the right details of the person you’re paying. This person is called the “payee”.
You’ll need your payee’s:
When inputting a name, you need to use the full name. For example, “William” and not “Will”, if “Will” is not the legal name. For joint accounts, you only need to use the full name of one of the account holders. For payments to a business account you’ll need to use the full business or organisation name. If you choose to continue to make the payment without updating the payee’s details, and it turns out that your payment is sent to the wrong payee, we may not be able to get your money back.
Receiving a Payment
When you’re expecting a payment, it’s important that the person sending it is given the right details. Remember, that someone may not send a payment if the name they use does not match the one on your account.
It’s important that any payer looking to send you a payment has your:
For payments to a business account you’ll need to use the full business or organisation name.