Confirmation of Payee (CoP) Validation

<b>Confirmation of Payee (CoP)</b> is a fraud prevention tool used to verify the name of the account holder upon creating a new UK beneficiary or modifying the details of an existing beneficiary entry. <br> <br> CoP offers more transparency during UK bank transfers and ensures that each Faster Payments/Chaps payment is sent to the intended recipient, reducing the risk of misdirected payments due to mistakes or fraud. <br> <br> Prior to registering or updating a UK beneficiary, the CoP system can check if the name entered matches the name on the recipient's account and will eventually return one of four responses: <br> <br> <b>Exact Match:</b> The name matches the intended recipient's account. <br> <b>Close Match:</b> The name is similar but not an exact match, and the payer can proceed with caution or correct the details. <br> <b>No Match:</b> The name doesn't match the account, and the payer is advised to check the details with the beneficiary before proceeding. <br> <b>Unavailable:</b> The account does not support CoP/the beneficiary has opted out of CoP. <br> <br> A complete list of status codes, along with their descriptions, can be found on the <a target="_self" href="/reference/confirmation-of-payee-status-codes">CoP Status Codes</a> page. <br> <br> Note: Even though CoP adds an extra layer of security, it is considered as an optional feature. Despite the response provided by the CoP system, the creation of a beneficiary can still proceed. The final decision lies with the OpenPayd customer, who can either take corrective action based on the CoP response or proceed further with the payment.