Confirmation of payee

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UK banks have implemented a system whereby a check will be performed on bank account you are paying to ensure that you are paying the correct person.

This is great in principle, and ensures that you have not made a mistake in the account details and you are paying you you think you should be paying.

Where this fails

The problem is that this system only really works for payments between the big six major banks in the UK.

Other banks and payment institutions can look into implementing this service as well. However, it's a complicated process, with these smaller institutions having to join the Open Banking system, which requires further regulation, and then implementing things from a technical perspective.

Many brokers on Bittylicious use these smaller banks and, as such, you may see errors from your bank saying that the payee cannot be verified. You should double check to ensure you have entered the correct sort code and account number, and if this is the case, your payment is safe. We recommend reading these numbers, both forwards and backwards, to make it more likely you have entered them correctly.