Name matching coming into effect on bank accounts?

[tmastermind]

So I just got a notification from Barclays which I always use with no issues but looks like they are going to be verifying much more closely the name of the account or payee for incoming and out going payments. Could be an issue for those who have matched an account in stealth with eBay/AMZ

Not sure if other banks are doing this but one to look out for just in case....

Can’t add a screenshot sadly as using mobile... has one else seen a notification to this extent recently?

[SaiJin]

What does the notification say exactly?

[Pandoras_box]

This had been discussed on some other thread on this forum but I can't seem to find it.
I think someone said you can opt out.

[tmastermind]

Originally Posted by SaiJin

What does the notification say exactly?

Types it out word for word from the screen shot below:

Some banks are now matching names to accounts when making new UK payments.

We will do this from March, so please enter the full name of the person or business your paying. You will also need to give these details to anyone making payments to you.

For more info search Barclays - confirmation of payee

[tmastermind]

Originally Posted by Pandoras_box

This had been discussed on some other thread on this forum but I can't seem to find it.
I think someone said you can opt out.

I don’t get that impression from the notification. It looks mandatory and more of this is what we’re doing as a bank from now on. Although it does lean more heavily on payee, it does mention incoming payments will also meet the criteria. It’s not a big problem as business name would be the way forward but I know many stealthers use personal or basic bank accounts which would be open in the stealthers name and potentially this is where the issue could be...

[Andy2020]

is this not related to this....

https://www.theguardian.com/money/20...-beat-transfer

[agent006140]

before internet banking,if you want to deposit a check which is not made out to you,dont you have to endorse it?or the payee have to endorse it/
We cant just deposit any check which is not made out to us?