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Faster Payment - is your account number shown to the recipient?

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  • pqrdef
    pqrdef Posts: 4,552 Forumite
    chris1 wrote: »
    Yes, I was hoping that sending a faster payment would NOT reveal the sending bank, sort code and account number, like a cheque would show!
    The sending bank makes up an internal transaction ID in a format of its own choice. If the receiving bank is Lloyds/HBOS, these strings of generally useless gibberish are displayed to customers.

    You can tell the sending bank from the format of the string, but I don't see anything that looks like a sort code or account number in there when the sending bank is FD, Nationwide, Santander, Tesco, or Co-op as such. No info on Barclays, RBS or Smile.
    "It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis
  • madgagoo wrote: »
    Not true, Smile send your sort code and account number along with any reference you choose. It shows as part of a long number, with other digits in as well, but it is there if you know where to look. I assume Co-Op bank are the same, as they use the same systems.

    Not too much of a worry anyway, limited amount of damage someone can do with just your account number. Remember it's on every cheque you've ever written as well...


    I don't see any reference to my Smile account when sending FPs to, say, LTSB. They just appear as MY NAME 000000000021055133 FPI. Those numbers are different on each occasion and bear no resemblance whatsoever to my Smile sort code and/or account number.
    Please tell me where to look!:)
  • Milarky
    Milarky Posts: 6,356 Forumite
    Part of the Furniture 1,000 Posts Photogenic
    IME (because I generally include the sending sort code + account number as 'reference') both Barclays and Nationwide will not display 'reference' fields - although they both do send them.

    However

    Santander sends & displays
    Lloyds/Halifax send & display
    Natewest/RBS send & display

    Of course you don't need to send your complete account details to be able to identify at a glance which account is which - but it certainly helps of you do. I even now make up the 'Payee' to have a sort code + account number format (so that the destination account is obvious on your bank statement)
    .....under construction.... COVID is a [discontinued] scam
  • EU payment services regulation requires them to supply this information.
    Information for the payee on individual payment transactions

    46.—(1) As soon as reasonably practicable after the execution of an individual payment transaction under a framework contract, the payee’s payment service provider must provide to the payee the information specified in paragraph (2).

    (2) The information referred to in paragraph (1) is-

    (a)a reference enabling the payee to identify the payment transaction and, where appropriate, the payer, and any information transferred with the payment transaction;
    (b)the amount of the payment transaction in the currency in which the payee’s payment account is credited;
    (c)the amount of any charges for the payment transaction and, where applicable, a breakdown of the amounts of such charges, or the interest payable by the payee;
    (d)where applicable, the exchange rate used in the payment transaction by the payee’s payment service provider, and the amount of the payment transaction before that currency conversion; and
    (e)the credit value date.
    (3) A framework contract may include a condition that the information specified in paragraph (2) is to be provided or made available periodically at least once a month and in an agreed manner which enables the payee to store and reproduce the information unchanged.

    http://www.legislation.gov.uk/uksi/2009/209/regulation/46/made
  • Gentoo365 wrote: »
    EU payment services regulation requires them to supply this information.



    http://www.legislation.gov.uk/uksi/2009/209/regulation/46/made


    I note that the phrase "where appropriate" is used. In some cases a bank might not feel it appropriate to release the details of the payee's account (e.g. fraud-related reasons).
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