Barclays included a Confirmation of Payee, defined as "an account name checking service that helps to make sure payments aren’t sent to the wrong bank or building society account", read more about it here.
What does this mean for me, a user trying to initiate a payment?
It means that you will not be able to make a payment higher than £2,000 to a new payee from your Personal Account (or £5,000 for Premier Accounts).
In order to overcome Barclay's daily limit for new payees, you can easily add the payee on Barclays' app following the steps below.
How do I save a payee for Barclays to recognise it as a "known account"?
You can follow Barclays' instructions here or check our step by step guide below:
- Log in to your Barclays app and tap ‘Pay & Transfer’
- Tap ‘Pay a recent or new payee’
- Select the account you want your payment to come from and then tap ‘To’
- Now you’ll see an option to ‘Add new payee’ at the top of your screen.
- Select ‘Enter bank details’
|1. ‘Pay & Transfer’||2. ‘Pay a recent or new payee’||3. Select your account and tap ‘To’||4. ‘Add new payee’||5. ‘Enter bank details’|
6. Select 'Business' and enter name, sort code, and account number. You can retrieve this information from the app. In case of doubt, we recommend you initiate a payment directly from the app, where these will be made visible
7. Barclays will then carry out its name-checking and suggest the registered name, which you will need to confirm or amend
8. If details match, the registered name will appear, accept suggestion (or amend) and continue to save the payee
9. Proceed with a real or test payment to finalise the process and save the payee
6. Enter details
|7. Accept notification if correct||8. Accept suggestions and continue||9. Finalise payment to save payee|
- Some features will only appear on the Barclays app 4 days after it's installed
- See Barclays recommendations for businesses here
- Daily limits to known payees depend on the type of account, in summary, they increase to:
- Interested in UK daily limits? Check "[UK Providers] What are the minimum and maximum payment amounts possible?"