Griffin accounts can now be checked through Confirmation of Payee

What’s changed?

Confirmation of Payee (CoP) is a name checking service that helps reduce misdirected payments and provides greater assurances that payments are being sent to the intended account holder.

In this first release when a payee with a Griffin bank account is set up from a bank or payments institution that supports CoP, we will confirm the name provided matches the name on the account.

Once the name on the account has been checked, one of below results will be shown in your banking app:

• Yes, the name matches the name on the account

• The name provided is a close match to the name on the account

• No, the name provided doesn’t match the name on the account

• Unavailable, it has not been possible to check the name on the account

The name that CoP will match will always be the account owner name. For dedicated accounts, this will be you or your customer.

For pooled accounts, the account owner name will be the company that manages the pooled account on behalf of the members, for example your company name.

CoP checks on payees set up on the Griffin platform is coming soon. For more information on CoP, take a look at our FAQs.

Why have we done it?

Confirmation of Payee provides greater assurance that the correct account is being paid and helps to reduce fraud.

How does it affect your existing integration?

This won’t affect your existing integration.

Thanks for reading! You'll be hearing from us again soon.

In the meantime, you can start testing our products right away when you sign up for our sandbox.

If you need support, feel free to reach out through our in-app chat or send a message to product@griffin.com.

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