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Re: Uk banks are now matching names for withdrawl
 

So could I change the name on my PayPal to my real name.? Would this solve the problem? And can I be done?

Re: Uk banks are now matching names for withdrawl
 

In order for an organisation to check names on an account (CoP) they must be registered with open banking, last time I checked paypal were not. Also, paypal are a Payment Initiation Sevice Provider, therefore they will not be able to enroll in Confirmation of Payee therefore wont have access to check the name

Re: Uk banks are now matching names for withdrawl
 

Are you sure?

https://developer.paypal.com/docs/psd2-compliance/

Re: Uk banks are now matching names for withdrawl
 

I am even more sure now reading that, that link clearly states they are a PISP. Name checking is not available to a PISP. And you have to be a bank enrolled in open banking to have CoP.

https://www.wearepay.uk/confirmation-of-payee/

The link you provided is more about being able to view balances/transactions from your bank account on the PP site, just like you can view barclays accounts through a HSBC app for instance. But that side of open banking is just a choice, you are not opted in automatically.

Re: Uk banks are now matching names for withdrawl
 

https://www.openbanking.org.uk/custo...iders/page/11/


PayPal (Europe) Sarl et Cie SCA

they are registered with open banking ^

Re: Uk banks are now matching names for withdrawl
 

So is no one freaking out about this??. From tomorrow we may not be able to withdraw from our stealth PayPal to our bank. Am I getting this right????

Re: Uk banks are now matching names for withdrawl
 

its the end of march


there will obviously be a way around this

Re: Uk banks are now matching names for withdrawl
 

Obviously - out of necessity

Re: Uk banks are now matching names for withdrawl
 

surely you can just make a stealth account with ⊗⊗⊗⊗ info in your name

unless its matching address

Re: Uk banks are now matching names for withdrawl
 

Yes moving forward but some of us have long term accounts, but I am yet to ascertain if this will affect existing setups or not. I suspect the former sadly.

Re: Uk banks are now matching names for withdrawl
 

What about Natwest current accounts?

I just read on their website

''The service focuses on UK sterling payments made through single Faster Payments or single CHAPS. Faster Payments are used for the majority of customer initiated payments. ''

would this apply to PP?

Re: Uk banks are now matching names for withdrawl
 

https://www.which.co.uk/news/2019/08...ou-from-scams/

This is a link to a list of banks that have NOT signed up yet and to banks that HAVE signed up.

Re: Uk banks are now matching names for withdrawl
 

All accounts. All banks pretty much. The Which document is over eight months old...its worth contacting your bank and asking them if they have 'signed up' to get accurate up to date info.

Re: Uk banks are now matching names for withdrawl
 

So the deadline for making checks is 31st march but surely it could happen at anytime? People seem to think march 30 is fine march 31st maybe wont be.
Dont think it will be that black and white ,Banks could start making checks at anytime once the system is in place and might already be doing so?

Re: Uk banks are now matching names for withdrawl
 

Yup, if it hasnt already, anytime in March up until 31st.

A poster has said elsewhere on this forum he has been having mismatched name troubles already, so its likely it has begun.

Im just hoping existing accounts with the withdrawal system setup wont be affected, suffice to say any new accounts need to be in the name of the bank account holder thats for sure. It should also work for Ayden as the same thing is going to happen there, but its easier to change to a name on an Ebay account than it is on a PP account.

Re: Uk banks are now matching names for withdrawl
 

Smaller providers to be exempt
Another significant change in the proposals is that only the major banking groups will be mandated to comply. These are: Bank of Scotland, Barclays, Cater Allen Limited, Coutts and Company, HSBC, Lloyds, Nationwide, NatWest, Royal Bank of Scotland, Santander and Ulster Bank Limited.
https://www.choose.co.uk/news/2019/b...payee-delayed/

Re: Uk banks are now matching names for withdrawl
 

I contacted the Co-op, they told me they have no information about confirmation of payee at this time.

Re: Uk banks are now matching names for withdrawl
 

Do remember, like eBay, these are just customer service reps,especially when using the call centres, who may or may not know what you are talking about as its very new 'news'/policies etc. Pinch of salt en all that.

Re: Uk banks are now matching names for withdrawl
 

I have a co-op account, so been thinking of changing banks in PP to the co-op to buy some time. But im worried that will flag my account. Or do we just wait and see if current PP accounts will be effected at all before making any changes.

Re: Uk banks are now matching names for withdrawl
 

I use co-op and tesco bank and i haven't had any issue's.In what i have read it's only mandatory for big six the smaller banks may or may not follow suit only time will tell.