Responding to Name Check Requests

For accounts held on our platform, we will automatically respond to name check requests from other institutions and will compare the name provided by the payer to the Modulr account name.

Requests are processed in accordance with the rules specified by Pay.UK and we regularly review and optimise the service to ensurance accuracy and compliance. We are unable to change the matching logic to suit individual customer requirements.

Receiving payments

To avoid problems when receiving payments, it’s important that the person sending the payment (payer) knows:

  1. The type of account that the payment is being sent to, either a Personal or Business account.
  2. The full account name as registered on our platform (otherwise we may not be able to match it).

For personal accounts, an individual’s full first and last name must be used - not nicknames or shortened versions.

For business payments, payers must be provided with the name registered on the account, even if the business trades under a different name. For example, if the account name is “XYZ Limited” but the trade name is “ABC” then the name that should appear to Payers on invoices is “XYZ Limited”.

Customers are encouraged to keep their account details updated.

Partner Implementations

To maintain the integrity of Confirmation of Payee (CoP) and ensure a consistent user experience across the industry, there are a few requirements that Modulr partners must be aware of and are responsible for.

1. Customer Education

It is important that your customers are educated on the CoP service, how it works (when making and receiving payments) and the benefits it provides. Our product guide provides relevant information that should be incorporated into customer facing materials and more information can be found on the UK finance website.

Note that Modulr is the participant in and provider of the service and at no point, including in customer-facing education materials, can it be implied otherwise.

2. Staff Training

Individuals interacting with customers and end users must be familiar with the service and be able to answer queries accurately. If there are particular questions that you are unable to answer, please contact us.

3. PR & Publicity

No announcements can be made regarding CoP without the prior written consent of Modulr.

4. Opt Out

In very exceptional circumstances it is possible to be opted out of Confirmation of Payee. In doing so, account details will not be confirmed with a person or business attempting to make a payment to the account.

Confirmation of Payee is an industry wide initiative designed to reduce fraud so we strongly recommend that account holders remain opted in to the service, however, you must provide customers with a mechanism to discuss opting out. You must send requests from your customers to opt-out of the service to us for consideration.

Note that opting out of Confirmation of Payee does not prevent use of the service when making outbound payments and an account holder can opt back in at any time.

5. Customer Complaints

Your complaints process must be reviewed and updated to include Confirmation of Payee .

6. Data Privacy Notice (For Modulr PCM customers only)

Consent is not required by account holders for their data to be used as part of a CoP response.

Payment Clearing Model (PCM) customers are responsible for their own Data Privacy Notice and we recommend that it is reviewed to ensure it adequately covers the service.

In particular:

  1. The purposes for processing personal data (e.g. references to fraud prevention and similar).
  2. Who such data can be passed to (e.g. third parties/partners engaged for fraud prevention purposes and similar).