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12 Aug 2021

We’ve committed to extend Confirmation of Payee’s capability

In response to a recent call for views from the Payment Systems Regulator (PSR), the SD10 firms (a group of the major banks: Lloyds Banking , Bank of Scotland, Barclays, HSBC, NatWest, Nationwide, Royal Bank of Scotland, Santander and Ulster Bank who were initially directed by the regulator to introduce Confirmation of Payee) have written to the PSR to provide a public commitment to deliver the necessary Confirmation of Payee role profile by the end of this year.

The letter can be viewed in full, at the link below. The PSR has acknowledged this and the response to the banks can be also viewed at link below.

SD10 letter – Confirmation on Payee extended capability

PSR response – Confirmation of Payee extended capability

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