Scams fight name check
BANK customers will be warned if the name of someone they are trying to pay does not match account details.
It is the latest step to stop scams tricking people into sending funds electronically to a fraudster.
Paul Horlock, chief executive of payments body Pay.UK, said: “Confirmation of payee will let you check you have the correct name for the person or business you’re paying, giving protection against certain types of fraud.”