Full name for bank transfer

[davidwalton (Award Winning Hot Coral Analyst)]

This could be it;

Requiring the payee’s exact name for bank transfers

Update, 11 December: The Payments Strategy Forum has outlined plans for a new payments system architecture in the UK. One area that the Forum has been examining is ‘Confirmation of Payee’. Currently, when you make a payment to someone the bank will check that the account number and sort code you provide matches the ones on the account you wish to pay. From here. Obviously I don’t know the stats that show whether this is a good idea or not & Monzo does (or can at least A / B test it) but I’m…