Metro Bank has come under fire for not introducing a new fraud prevention scheme, despite last year signing up to a code which said banks 'should' bring it in. Yes you can, simply complete the following steps: To add a new person, or company, to your list of payees, you will need to: Choose "Pay someone new" Search by company name, or enter the beneficiary account details Verify the details of the beneficiary Confirm your debit card details Barclays Wealth - How do I set up a payment to a new payee? Its for U.K. starting accounts only, so no currency accounts would be included or anything outside of the U.K. Electronic payments only, single payments, online channels, and the payment types are FPS, faster payments and CHAPS. 2. Log into your Barclays online banking on your web browser 2. With a lot of work with Barclays to to prevent that, and in 2016 onward, weve seen a shift from criminals trying to attack our systems and actually going straight to our to our clients and our colleagues and providing them with some kind of payments direction whether it be via e-mail or a phone or SMS or an invoice, you know, basically, a payment instruction provided to the genuine user to convince to try to convince them instruction is genuine, and, therefore, make that payment using a payment system. But there must be enough money in your account for it to clear and the payment to go through. The scheme, which will cover 90 per cent of bank transfers, will notify those sending a payment to a new payee, if the recipient's name does not match their bank details. Register for the Internet Bank today. Next question: 2. Andrew Hagger, the founder of personal finance site Moneycomms, said: 'The new fraud protection measures including Confirmation of Payee need to be introduced by all banks as a priority as soon as possible. Just when you thought old-style cameras were on the scrapheap: 'I'vesnappedup 200m in sales,' says MPB's Matt MG unveils its Cyberster electric two-seat sports car in China, VW's new ID.7 electric car offers up to 435 miles on a full charge, Steve McQueen's classic Ferrari sets auction record in 2014, Robot escorts children and the elderly crossing the road, Ford launches new hands-free driving feature, '7' number plate breaks world record selling for 12MILLION, A tour of the most expensive home in the North East, A look inside the 5-bed house on the ocean's edge in Sandbanks, Video shows the South East's most expensive home, Ford Transit Courier loved by firms will go electric next year, Warning of scam that damages car by clipping wing mirror, GMA T.33 is Britain's new 2million supercar that can top 200mph. This page is operated by Barclays outside of the United States. George Nixon For Thisismoney.co.uk, System designed to stop people losing millions to bank transfer scams WILL be ready by March 2020, regulators say, Google rakes in 50,000 a month from the City watchdog to carry warnings above adverts for high-risk investments and suspected scams, Fraud fund used to pay back blameless scam victims extended AGAIN as squabbling banks can't decide on a long-term solution. It is best that you use the Activation Code . You can change or cancel a future-dated payment up to 10pm on the working day before its due to leave your account. By Please tell us why you found it useful using the form below. This means corrections can be made before the money is sent. PLEASE NOTE: Do not include any personal or account details: we cannot answer specific questions about your account. Whether you're making it in branch, on our Banking app, in the Internet Bank or through Open Banking. Bacs payments, which are often used by employers to pay staff, will be added later in the year. The news comes just a day before new fraud figures for the whole of last year are released by trade body UK Finance, which will include how much customers have been reimbursed under the new fraud code. We will use this information to improve our service. (Shameet Shah): Thanks, Katherine. Six major banks, including Barclays and HSBC, have introduced new security checks for all customers who transfer cash to friends, family, businesses and other payees. As you input the account details, the check is made in real-time before the payment is formally requested. When you set up a new payee, youll be asked to enter a payment reference. You'll then get one of the following responses: If you're doing a phone payment, you'll be told whether it's a match or not during the call. You can change an existing payment reference through our Internet Bank or by visiting your local branch. To help prevent fraud, when you make a payment in the UK, the name of the account holder will now be checked against what you have entered. As always you can unsubscribe at any time. Katherine Moore: Thanks, David. If you cant see those, they are Barclays, Bank of England, HSBC, Lloyds NatWest, Nationwide, RBS, Santander, Ulster Bank, Monzo and Starling. Can I add a new payee using the Barclays app? 122702) and the Prudential Regulation Authority. But from June 30, you'll be able to ask your bank to carry out a name check before sending out any money. So, in scope are the participating banks that we have mentioned. Though Metro Bank's stance was backed up by the trade body, UK Finance described Confirmation of Payee as 'another important tool in the fight against fraud'. George Nixon For Thisismoney.co.uk Online bank transfers are a safe and secure way to send money. 1026167) with its registered office at 1 Churchill Place, London E14 5HP. If, in the event of a close match, a new match or an unavailable response, well go into that in a little bit of detail in a minute, but that is a key change as part of this and part of this initiative. This revolutionary new payment option is a great way to simplify the process of paying your bills and make it easier for those who may not have access to traditional payment methods. It said in a statement: 'While not currently mandatory under the code, Confirmation of Payee is a major technical change to digital payments and another important tool in the fight against fraud. Think about how your payment are made, whether theyre single payments or whether bulk payments, what channels do you use, if any. Have the full name of the person or business you want to pay. CoP is one of the many ways the finance industry is tackling fraud. Likewise, if someone tries to make a payment to you and receives a partial match, they will be given the name of your account. Forum Member. Other customers found these links helpful. Can I make a payment if the account names do not match? Choose whether you expect to pay a personal or business account well tell you if your categorisation is incorrect. Our Scam Checker Service means you can talk to us whenever you're not sure about a payment you're about to make from your Nationwide current account. You can update the details and try again, or check the details with the person or company you are trying to pay. Theyre trying to help both colleagues, clients and trying to prevent fraud. A message 'Error 321800' came on screen while I was submitting a payment online. A number of reasons are available under that unavailable brackets. You will then see some important information, which you should carefully read, to help protect you against Fraud and Scams, Once you have carefully read and are happy with the information provided, you can select to confirm you're happy to make the payment, Scroll down and carefully check the details, Some customers are still charged to make CHAPS payments, although for the majority of personal customers there is no charge, Follow the next step using your Barclays app, or your PINsentry reader, Enter the 8 digit code that appears on your PINsentry reader, Your same day domestic payment has been sent, You can then download or print your receipt by clicking the relevant button in the top right of your screen - then go back to the 'Home' page or exit.