What does your bank do in this situation

eskbanker

Section62 said:

eskbanker said:

Section62 said:

The risk which does exist is making an error when setting a new payee up, and the possibility of entering the wrong details.  By deleting payees after 13 months Nationwide expose me to the risk that I pay money to the wrong account when having to set up the payee again.  I don't see their actions as any form of protection.

Recreating payees now does subject (most of) them to the Confirmation of Payee validation, which may not have been the case when they were originally created, so that mitigates the chances of errors when recreating.

...unless you have lots of accounts with the banks and building societies that haven't got CoP working yet, or do the account number in the reference field so you get confirmation you are setting up a payment to ACME Building Society, but not confirmation it will go to your own account.

The main point was that Nationwide aren't doing this to protect us, in the way born_again was suggesting.

Yes, my reference to most payees (on average) being validated by CoP was recognising that it's not universal yet, but if you're sending payments to lots of non-CoP payees after gaps of more than a year then I'd suggest that you're very much an edge case.

And I was agreeing with your last point about motivation for implementing dormancy in an earlier post!