Sort code, account number AND name required in the future

I can’t be the only one who has the fear that they’ve sent money to a random stranger when making a bank transfer to someone new, so I gladly welcome this.


I just never understand why names aren’t checked already, it’s daft. And we’re told to send ‘a small amount’ and confirm it’s been received before sending a larger amount but I’ve heard reports that it is then flagged for fraud/security. Crazy.

It would be better if once you input the sort code and account number, the account name was then displayed. The sender would then either recognise it or walk away.


About time.

Does mean Monzo need to get their skates on and sort out the payments screen as we need a better way of storing payees than by name… luckily that’s on the priority list :smiley:

(I should say I rarely use the proper payee name, else I’d never know what account I was paying. If I’m moving money to a saving account, mortgage account or other bank account it would all have the same payee name!)


I’m really opposed to this. It’s going to hurt transgender people badly who haven’t yet changed name for whatever reason. And remember the middle name drama on here? Now will we have to tell everyone our middle names if we want them to pay us?

Just… A bad idea with good intentions.



I hope you’re right… I haven’t seen many details but my guess is it’ll have to be an exact passport match. In an ideal world it would be just initial and last name. If at all. But my suspicion is it’ll be far more strict.

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I hope not. I have 4 current accounts, none of which have my middle name.

I would hope that an agreed alias would be possible

I would hope so too, but I’m pretty sure the entire point is to prevent that? At least it’s easy to change name in the UK!

Yes and no. The purpose is so that people can be certain they are sending money to the right account, i.e. that it’s not being intercepted and going to a place you weren’t intending to send it. But, within reason, you should be able to determine exactly how that looks to other people. It’s definitely something that I expect traditional banks will struggle with, but I would expect that Monzo and others like it will factor this sort of thing into the end result.

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I’m going to need to read the exact specification here I think. The last I read on this, it was only going to be advisory. :eyes:


How Confirmation of Payee will work

When setting up a new payment, or amending an existing one, banks will be able to check the name on the account of the person or organisation you are paying. There are three possible outcomes:


If you used the correct account name, you will receive confirmation that the details match, and can proceed with the payment.

No, please check

If you used a similar name to the account holder, you will be provided with the actual name of the account holder to check. You can update the details and try again, or contact the intended recipient to check the details.

No, the name is wrong

If you have entered the wrong name for the account holder you will be told the details do not match and advised to contact the person or organisation you are trying to pay.

The matching decision is made by the intended recipient’s bank, as they have the best knowledge about the name of the person or business that is being checked. No matter what the outcome of the name check, the decision on whether to proceed with a payment will always rest with the sending customer – with the risks made clear if they choose to go ahead after receiving a non-match.

The wording of the study does suggest that at least initially this will be optional for the banks to implement


Thanks @Rika !!!

So no more names like Rent Payment and My Monzo or my most recent one is Marcus-not that one from next year.


Good stuff. Seems like a common sense check.

I’m the type who always sends a quid and checks it’s gone through before sending the whole amount.

Can’t even imagine how that couple who lost £100K feel.


Yes reading it closer it does sound like it. Fingers crossed…

It it was implemented I’d hope there might be a ‘nickname’ field that we could use that way we could call it ‘joint account’ or ‘saving sccount’ rather than just having 3 accounts all saying my name and me forgetting which is which!


I see no reason why middle name would be required, and even so a last name match should trigger the logic to display the full name for your confirmation and not outright reject.

It seems a shame to completely ignore this feature for the edge cases which I’m sure the bank can fix in the implementation. Monzo already have a legal name and preferred name, surely both can be accepted?

Need for consistency is one of the big things highlighted in the report. Things like middle names have still be to be agreed upon - some people use their middle name over their first so how should that be handled. Should Toby and tony be a complete mismatch or a close match? How should maiden names be handled etc

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Slightly off topic, but when using PayM (with my old legacy bank), once you select the contact the next screen will display their name which is registered with the PayM system.
So even if the contact is ‘Jon :dolphin:’ on my phone, ‘Jonathon Doe’ appears on the next screen to verify whom you are sending money to.

I think it’s pretty neat, and I’m sure its possible with faster payments. (I spoke to a friend who works for BACS about this, and he said it would fairly simple to implement, as long as banks were compliant with the standards - which they rarely are at the best of times)