What causes account name mismatch errors on payments in Calmony?

Payment failures related to account names are usually caused by the account name in Calmony not matching exactly what is registered with the bank - common causes include missing suffixes, incorrect company abbreviations, spelling differences, and building society reference requirements.

If a standing order or payment is being rejected or failing, an account name mismatch is one of the most common causes. Banks use Confirmation of Payee checks, which verify that the account name in the payment instruction matches the name registered against the bank account. Even minor differences can cause a payment to fail.

Common account name issues to check

• Client account suffix - For standing orders, the account name must include 'CA' or 'Client Account' as a suffix (e.g., "Smith Properties Client Account" or "Smith Properties CA"). If this suffix is missing, standing orders may fail.
• Limited company abbreviation - For limited companies, use 'Ltd' rather than 'Limited'. The bank account is likely to be registered with the abbreviated form.
• Exact spelling - Check that the spelling in Calmony matches the bank account name precisely, including punctuation and spacing.
• Building society accounts - Building society accounts may require a specific reference format, such as a roll number, in addition to the account name. Contact the payee or their building society directly to confirm the correct reference before setting up the payment.