1. Initiating a Payment: When you initiate a payment to a new payee, we will query the payee's account provider to confirm the account name.
2. Name Verification: The payee's account provider compares the account name you've provided with the details on their records.
3. Result Notification: You will see a CoP Response on your screen indicating one of the following:
o Match: The names match perfectly.
o Close Match: The names are similar but not identical. You may need to verify the details
with the recipient.
o No Match: The names don't match.
o No Data: The account provider does not participate in the Confirmation of Payee service.
4. Payer’s decision: Based on the response, you can decide whether to proceed with payment, change payment details, or cancel the payment.