What is Confirmation of Payee?
UK regulatory requirement (PSR)
Verifies beneficiary name matches bank account
Prevents APP fraud and misdirected payments
How does it work in Spendesk?
Automatic check before confirming UK payments
4 possible results:
Full match: beneficiary name matches account info
Partial match: beneficiary name is close to the real name
No match: beneficiary name does not match bank account info
Unavailable: we could not verify the information
User can accept risk or correct details
What should I do if I see a warning?
Review beneficiary details carefully
Correct the account holder name if wrong
Contact beneficiary to confirm details
Only proceed if you trust the recipient
Can I ignore the warning?
Yes, but at your own risk
Funds sent to wrong account may not be recoverable
Your approval is logged for audit purposes