An extra weapon against banking scams - but customers still need to play their part
An extra weapon against banking scams - but customers still need to play their part
10 October 2024
A Confirmation of Payee system's rolling out banks from next month - to be fully in place next Easter.
It notifies a customer whether the name and account they're paying to, match up - or don't.
But Banking Association chief executive, Roger Beaumont, is reminding there's no silver bullet against scams.
He says customers need to remain vigilant whenever paying money out of their account - and be confident of who they're paying and the account number.
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