Payment reference information
Businesses use information to connect the payments they receive to their customers' accounts. The payment reference information can normally be found on the payment details of a bill. Each year, UK businesses spend millions of pounds resolving problems caused when their customers make electronic payments without the right payment reference information.
The Payments Council has published two helpful sets of best practice guidelines about payment reference information for organisation:
The best practice guidelines for billers is for billing organisations to remind their customers making payments to them to include accurate reference information. The guidelines include details about:
- educating customers of the importance of including reference information, including why the reference information benefits the customer
- advising the customer how many digits make up the reference, to help them identify any mistakes
- helping customers identify the reference by displaying it clearly and unambiguously at the top of the bill
The best practice guidelines for payers provides example advice for organisations to use to encourage their customers to include accurate reference information when making their electronic payments.