At Hanley Economic Building Society, we’re committed to ensuring that your financial transactions are as safe as possible. As part of this ongoing commitment to protecting your money, we’re excited to announce that from the 21st of October, we’ll be joining the Confirmation of Payee (CoP) scheme.

Here’s what you need to know and how this will impact you if you are setting up a new electronic payment.

What is the Confirmation of Payee Scheme?

The Confirmation of Payee scheme is a name-checking service for UK-based payments. It ensures that the name of the account holder matches the account details provided. This extra layer of security gives you more confidence when sending payments, helping prevent accidental payments to the wrong account or fraudulent transactions.

How Will This Affect You?

From the 21st of October, a small change will be required when setting up new electronic payments into your Hanley account.

What’s Changing?

• New Payee Name: Instead of using "Hanley Economic Building Society" as the payee name, you will need to use your own full name (first name and surname).
• Reference: Your account number will be used as the payment reference.
• Other Details: All other information, such as the account number and sort code, will remain the same.

Paying Money into Your Account from 21st October

If you already have a regular payment set up to transfer funds to your Hanley account, you don’t need to take any action. However, for new electronic payments after the 21st of October, please use the following details:

• Payee Name: Your full name (first name and surname)
• Hanley Economic Account Number: 09995102
• Sort Code: 30-01-20
• Payment Reference: Your Hanley account number

Important Information

As we join the Confirmation of Payee Scheme, other banks and building societies who also participate in the scheme will have 7 days to register with us.

Whilst we wait for other banks and building societies to register, you may get a message about your details not matching.

If this is the case, this means your provider hasn’t yet registered with us and and you’ll need to use the previous funding information in the interim (using Hanely Economic building society as the beneficiary).

Need Assistance?

If you have any questions or concerns, our friendly customer service team is here to help. Feel free to give us a call on 01782 255000.

Customer Service Opening Hours:

• Monday to Friday: 8 am – 6 pm
• Saturday: 9 am – 12 pm.