Which bank accounts can be checked through Confirmation of Payee?
Confirmation of Payee (CoP) works for all bank accounts. The name of the account owner is the name that will be checked and matched via CoP.
For dedicated accounts, the account owner is the individual or business that the account belongs to.
For pooled accounts, the account owner will be the company that manages the account on behalf of the members. This could be your company name or the name of a businesses that operates on your platform.
For more detail on accounts owners, check out our guide on owners, controllers, and beneficiaries.
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