Payee question

ranciduk

Hi

i want to transfer money from my bank to another bank I also
 have an account with

I’ve only recently joined the bank I’m transferring money from , so I want to make sure I put the payee name 100% correct to avoid any issues

so with the bank I’m paying into (into my current account) the name on my debit card is set out different from the way my name appears on my current account statements

on my debit card my Christian name is spelled in full ie Mr David Surname,  but on my statements it just says the initial I.e. Mr D Surname

so my question is, when I setup this payee for the first time- should I go with how my name appears on my debit card, or how it appears on my statements ?

i just want to get it right!

thanks

la531983

If its wrong and you are near what it actually is, it will likely just tell you.

End of the day it actually doesnt matter, its the account number and soft code that have to be spot on.

If you are that worried send a penny first.

flaneurs_lobster

What are the to and from banks? It may be that you can use open banking to "pull" the money from the receiving  bank. As well as moving the money it should set up a payee entry in the sending bank.

Otherwise you should use your full FirstName and LastName if setting up the payee entry manually. The entry will be checked against the receiving bank accounts by Confirmation of Payee to make sure an account with the name and account number exists.

EssexExile

I told people to pay money into the account of Mr R EssexExile because that's what it says on my cheque book and statements, then they get told it's wrong and it's in the name of Mr Robert EssexExile. So I wouldn't fuss about it.

wmb194

ranciduk said:

Hi

i want to transfer money from my bank to another bank I also
 have an account with

I’ve only recently joined the bank I’m transferring money from , so I want to make sure I put the payee name 100% correct to avoid any issues

so with the bank I’m paying into (into my current account) the name on my debit card is set out different from the way my name appears on my current account statements

on my debit card my Christian name is spelled in full ie Mr David Surname,  but on my statements it just says the initial I.e. Mr D Surname

so my question is, when I setup this payee for the first time- should I go with how my name appears on my debit card, or how it appears on my statements ?

i just want to get it right!

thanks

The way COP is setup you enter your forename and surname. That should give you a match.

ranciduk

Ok I’ll go with my full name like on my debit card 

thanks guys!

PRAISETHESUN

I'd use the name you have on file for that particular bank. It doesn't m,atter too much in the grand scheme as if it's close enough it should tell you, otherwise you can override the check in most instances. In any case, when you set up the payee, send a £1 test payment and confirm it arrives at the other bank first before you commit to sending any significant amounts.

ranciduk

I heard somewhere that banks sometimes suspect suspicious behaviour when someone transfers just £1

like it’s possibly scammers testing the waters before making a massive transfer!

PRAISETHESUN

ranciduk said:

I heard somewhere that banks sometimes suspect suspicious behaviour when someone transfers just £1

like it’s possibly scammers testing the waters before making a massive transfer!

I've personally never had issues myself doing this. Worst case your account gets frozen either way - either it gets frozen for the £1 test payment, or it gets frozen when you try to send £1000 to a new payee. At least if you get the test transfer details incorrect it's only £1 you've got to track down...

GeoffTF

ranciduk said:

I heard somewhere that banks sometimes suspect suspicious behaviour when someone transfers just £1

like it’s possibly scammers testing the waters before making a massive transfer!

I have always done that and never had problems beyond a snotty email telling me that the minimum deposit was £100. That told me that I had hit the right account anyway, so sending £1 had served my purpose.

Notepad_Phil

ranciduk said:

I heard somewhere that banks sometimes suspect suspicious behaviour when someone transfers just £1

like it’s possibly scammers testing the waters before making a massive transfer!

I've heard of that happening from the occasional post on this and other forums, but it's been in the context of someone sending a £1 transfer followed by a much larger payment and it's the second payment that's tripped the suspicious behaviour flag. However I've always done transfers to new accounts like this and have never had an issue, but that might be because they have historical knowledge of how I operate and so it's not suspicious behaviour for me.