Good Morning. We have a buisness acount with Tide, and due to the current situation with Covid, decided to set up a new income, … But today we come accoss a major problem… If a new customer is trying to pay into this bank account, their being refused based on the bank cannot be verified… Consequently we have lost custom. Its only just been highlighted. Is there a reason the bank is not able to be verified by customer… and how can we overcome the problem so new customers can pay into this account. New customers will not trust sending a payment to an account that indicates it cant be verified. Any ideas???
Thanks for reaching out to us.
Could you please provide us with your Company name so we can look into this for you?
Thank you in advance.
Thanks for getting back to me… Ive receiced a reply from Tide which ive added below. This explanation does explains the problem, and a email to the customer beforehand MAY solve there worries. But as you know, with so many scams within the online world, a notice that pops up just before your going to pay that mentions the word ‘unverified’ creates distrust in the customers eyes. And consequently most think twice and some dont pay altogether…
NOTICE FROM TIDE
The individual who is attempting to send you this payment may be experiencing confusion due to a new, recently introduced service called Confirmation of Payee that is being rolled out across the industry over the coming 12 months. Confirmation of Payee aims to provide greater assurance to people that are sending payments by matching the name and account details they have entered for the payee to a centralised database of account names and numbers.
Because Tide’s payment partners have not yet implemented this new service, your account details cannot be matched and a notice is presented to this effect. It is important to note that this is just a notice, if the sender is experiencing this issue please advise them that the payment can still be made without any issues
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