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UK banks get March deadline for confirmation of payee requests

( August 1, 2019, 13:42 GMT | Official Statement) -- MLex Summary: Banks must be fully capable of receiving and responding to confirmation-of-payee requests from other payment providers by March 31, 2020, the UK Payment Systems Regulator has said. Confirmation-of-payee is a process that ensures the recipient’s name is checked before a payment is sent. The PSR confirmed the due date today, following a period of consultation.Statement follows. The document is attached....

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