Moss supports the following schemes to verify the account details and account holder names of suppliers and employees required for invoice and reimbursement payments:
🇬🇧 Confirmation of Payee (CoP)
A security check used in the UK when you make a GBP bank transfer to a beneficiary in the UK via Faster Payments. It helps make sure your payment goes to the right account by confirming the account details are valid and that the account holder name on record at the beneficiary's bank matches what you've entered.
🇪🇺 Verification of Payee (VoP)
EU-wide security check for EUR bank transfers via the SEPA network, introduced under the Instant Payments Regulation. It works similarly to the UK’s Confirmation of Payee, but applies across all EU SEPA member states only, by verifying that the account details are valid and that the account holder name on record at the beneficiary's bank matches what you've entered.
Both systems are designed to prevent fraud and accidental mis-payments, giving you greater peace of mind when paying someone new.
CoP and VoP end-to-end
Invoices workflow
During invoice review the CoP or VoP will be visible when overing over "View payment details". If there's a warning it will be clear and the payment details can be updated directly.
When approving an invoice, the result of the CoP or VoP check will be visible under Payment details. Green checkmark indicates there is a match, or else an error or warning will be visible.
Reimbursements workflow
When users add or edit their bank details, a CoP or VoP check is made to ensure the account is correct. This is only available when editing user settings. If you're using an HRIS sync these checks will only be made throughout the reimbursement review and approval workflow, and lastly the payment.
For example, when reviewing the following reimbursement below, we get a warning that the account details are not valid as they do not match the records at the recipient's bank. In this case the user who submitted the reimbursement needs to be asked to review their bank details and and ensure they are correct
Payment preparation and release
CoP and VoP is available when managing payments from Moss, and fully integrated when preparing and releasing payments with Pay with Moss.
When preparing and / or releasing payments, the VoP and CoP checks will always be made and visible on the payment drawer. In the case below, a green checkmark indicates that there is a successful check with the beneficiary's bank and the payment can proceed as usual.
If there is a name mismatch, this will be highlighted under the account holder name, and when continuing with the payment the following warning will pop-up. At this point, continuing with the payment despite the account holder name mismatch is at your own risk.
When receiving this warning it is recommended to always check the payment details with the beneficiary to prevent the payment from being sent to the wrong account.
The payment details can be edited from the payment drawer directly by following "Update payment details". The CoP or VoP check will provide instant feedback and allow you to go back to prepare or release the payment with the confirmed and verified details.
CoP and VoP check result types
Response type and message | Overview and recommended action |
Match ✅
| When the recipient name and the account details you entered match the records of the recipient bank.
Applies to
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Close match ⚠️
| If you have entered a recipient name similar to the account holder, you will get a "close match" warning and we may display the name the account holder if it is provided by the recipient's bank.
It is recommended to update the account details and try again, or, confirm the account details with the beneficiary before making the payment.
Applies to
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No match ❌
| If the recipient name you entered does not match the records of the recipient bank, or the account details (account number and sort code in UK or IBAN in EU) are invalid, you'll be warned that there is no match found on the bank records.
In this case, we recommend confirming the account details with the beneficiary before making the payment.
Applies to
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Account type does not match ❌
| For UK customers paying to local accounts, if the account type entered is different from what the beneficiary's bank has on record, this warning will be shown for the "Bank account type" under "Payment details" for both suppliers and employee bank account details.
Applies to
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Unavailable 🚫
| When the CoP or VoP services are temporarily unavailable, or else the beneficiary has opted out from the CoP checks (only possible in the UK).
Applies to
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