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I don’t think this is necessarily true, since account numbers are bound to people. If I transfer money to Jim, then the most important part is that it arrives with Jim, not that it arrives on account nr xxx.

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What part don't you think is true? The bank only has to match on the account number and sort code by law. It's not required to do name matching (and even the proposed name matching scheme will be voluntary).

It might be important to you that the money goes to Jim, but from the bank's perspective they executed the instructions correctly.

I once took a call in our office, looking for a "mrs x y". I said sorry noone of that name here. The others come back from lunch, turns out "x y" is a legal alias of colleague "v w", and it was the bank calling.

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