What’s the difference between my personal name and trading name when using Confirmation of Payee?

Your personal name is your legal name which is registered to your account, such as “John Smith”. This is the name that Confirmation of Payee uses when verifying account details, and so it’s highly recommended that you provide this name to your customers to ensure they pay you without delay. Your trading name is the name of your sole trader business, such as “John’s Bakery”. You can still provide this name to your customers when collecting payments, but Confirmation of Payee doesn’t use this when verifying account details.