tag:blogger.com,1999:blog-3993498847203183398.post1323681678955895993..comments2024-03-28T09:19:27.451+00:00Comments on RevK<sup>®</sup>'s ramblings: Confirmation of PayeeRevKhttp://www.blogger.com/profile/12369263214193333422noreply@blogger.comBlogger9125tag:blogger.com,1999:blog-3993498847203183398.post-40924628732368955322020-09-29T13:03:42.605+01:002020-09-29T13:03:42.605+01:00Hope you guys don't mind, but I have just post...Hope you guys don't mind, but I have just posted the URL for this thread to my LinkedIn account. Any objections, just give me a shout and I'll withdraw it but I haven't seen a better anecdotal description of the sort of issues that arise.Anthony Evanshttp://www.confirmationofpayee.net/index.phpnoreply@blogger.comtag:blogger.com,1999:blog-3993498847203183398.post-88866652145330264982020-09-29T11:59:18.039+01:002020-09-29T11:59:18.039+01:00Hi,
This is all fantastic information, just the so...Hi,<br />This is all fantastic information, just the sort of anecdotal evidence I'm interested in! I am voluntarily setting up an independent group of individuals and participants dedicated to Confirmation of Payee because I can see this is going to be a big issue over the next year or so. The website I've built is www.confirmationofpayee.net/index.php<br /><br />You can find out more about me as well on my LinkedIn profile https://www.linkedin.com/in/anthony-evans-nf-testing/<br /><br />Please contact me!<br /><br />Regards<br />AnthonyAnthony Evanshttp://www.confirmationofpayee.net/index.phpnoreply@blogger.comtag:blogger.com,1999:blog-3993498847203183398.post-52174427566927616152020-08-03T13:21:07.686+01:002020-08-03T13:21:07.686+01:00I had a problem the other day trying to transfer m...I had a problem the other day trying to transfer money between my first direct account and a joint account at Lloyds (both mine). Even when I entered the exact joint account name as printed on the cheque book it came back with "No match" - not even a near miss.<br /><br />I went into the branch to ask them what exactly was the name of the account but they couldn't tell me!Johnhttps://www.blogger.com/profile/17555396036856701009noreply@blogger.comtag:blogger.com,1999:blog-3993498847203183398.post-92016214368583072102020-06-15T14:30:24.524+01:002020-06-15T14:30:24.524+01:00Already hit this issue with Barclays.
Making a pa...Already hit this issue with Barclays.<br /><br />Making a payment to The Scout and Guide Shop which is what's shown on their invoice and website. Barclays online give no match.<br /><br />Finally after searching their website found that the charity running the shop is Sheffield Scout Resources and putting that in the field got a match.<br /><br />The actual account name i later found out was Sheffield Scout Resources Charity T/A The Scout and Guide Shop so how come Barclays couldn't match The Scout and Guide Shop?<br /><br />I can give sort code/account no. if others want to tryDavehttps://www.blogger.com/profile/14946403289918917808noreply@blogger.comtag:blogger.com,1999:blog-3993498847203183398.post-36290755223234457372020-06-14T14:59:32.730+01:002020-06-14T14:59:32.730+01:00It's crazier than that.. always worth reading ...It's crazier than that.. always worth reading 'falsehoods programmers believe about names'.<br /><br />This system has basically zero chance of working well.Tony Hoylehttps://www.blogger.com/profile/06485210895681350152noreply@blogger.comtag:blogger.com,1999:blog-3993498847203183398.post-7644263031141358352020-06-14T01:56:12.786+01:002020-06-14T01:56:12.786+01:00And I've got payees set up with e.g. "Ma...And I've got payees set up with e.g. "Mat Monzo" / "Mat NatWest" because they have accounts with each and I need to know which I'm sending to..Robhttps://www.blogger.com/profile/15492761714688454925noreply@blogger.comtag:blogger.com,1999:blog-3993498847203183398.post-51173603582394167372020-06-12T18:40:36.228+01:002020-06-12T18:40:36.228+01:00There will also be false positives or vice versa w...There will also be false positives or vice versa with names that can "work both ways". I am thinking of John Hannah. Or Hannah John. Two different people. Hannah and John can each be both forenames and surnames. Or Steven Hayley vs Hayley Steven. Confirmation of Payee system could potentially decide that they are the same person and say "go ahead and make this payment, all is good". When actually it is not.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3993498847203183398.post-32361164140331934482020-06-12T10:31:36.864+01:002020-06-12T10:31:36.864+01:00Already run into problems with this - trying to pa...Already run into problems with this - trying to pay insurance through HSBC. Entered the payee as XXXXXX (where XXXXXX is the name on all of their paperwork). HSBC said "No match" and "You can click pay if you want to, but on your own head be it". Turns out that the account is in the name "XXXXXX Ltd" - why on earth didn't that match?<br />The way I see it is that this is an attempt to solve the problem whilst letting foolish people remain foolish. As you say, the only people this will adversely effect are the genuine businesses - scammers will make damn sure it works for them.<br />Surely the money spent on implementing this idiotic system would have been better spent on education or, God forbid, better account setup and management security.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3993498847203183398.post-69614412850694565822020-06-11T20:24:32.375+01:002020-06-11T20:24:32.375+01:00This has so many potential pitfalls. Just some of...This has so many potential pitfalls. Just some of the ones I can think of:<br /><br />1) For one single bank account all of the following can possibly be different:<br /><br />name on bank's system<br />name shown on debit card<br />name shown on cheque book<br />name shown on bank statements<br />name shown to recipient when sending money out of the account<br />account holder's name versus true beneficial owner of the money (Trusts and Power of Attorney scenarios)<br /><br />2) Paying sole traders who may be set up as John Smith t/a Smiths Plumbing. Or they may be using just their own personal current account with no mention of Smiths Plumbing.<br /><br />3) On (2) the slash symbol often doesn't work on banking systems. It's shown as "t/a" on our Metro Bank cheque book but as "TA" on the account itself at the bank.<br /><br />4) "Ltd" versus "Limited" versus "Ltd." versus the more old fashioned "LD".<br /><br />5) Is the system really going to cope with all these variations of the same name?<br /><br />Mr John Robert Smith<br />Mr John Smith<br />John Smith<br />J Smith<br />J. R. Smith<br />J.R Smith<br />J.R. Smith<br />Mr J R Smith<br />JR Smith<br />John R. Smith<br />Smith, Mr John<br />SMITH JOHN R<br />SMITHJOHN<br />and on, and on, and on. Some accounts that have existed for years still use "Esq.".<br />Anonymousnoreply@blogger.com