Confirmation of Payee is coming

Confirmation of Payee is an industry-wide service designed to help protect you from scams or mistakenly sending money to the wrong account.

When paying a person or business via BSB and account number, the account name, BSB, and account number you’ve entered will be matched against the account details held by the recipient’s bank, and you’ll see a match outcome.

This can help you feel more confident that your money is going where you intend it to.

 

 

 

Benefits for you and your money

 

Avoid mistakes

Confirmation of Payee matches the bank account details you’ve entered with the account details held by the recipient’s bank and displays a match outcome, helping you avoid mistaken payments

Protection

Confirmation of Payee can help protect you from scams and mistaken payments by matching the account details you’ve entered with the account details held by the recipient’s bank.

Confidence

Feel more confident that your money is going where you intend it to, with Confirmation of Payee.

Want to know more?

To find out more about the Confirmation of Payee service, please visit the Australian Payments Plus website at https://www.auspayplus.com.au/confirmation-payee

 

 

Learn more about match outcomes

Match outcomes give you important information to decide what to do next. If you think you’ve entered the account details incorrectly, you can confirm them with the intended recipient before making the payment. Or if something doesn’t seem right, you can choose to cancel the payment.

 

 

 

  • The account details you entered match the details held by the business or individual’s financial institution.
  • Continue your payment with more confidence.

  • The details you entered closely match the details held by the payee’s financial institution.
  • Recheck the details and if unsure contact the payee.
  • If something doesn’t seem right, you can decide not to proceed.
  • If you continue, it may be difficult, challenging and time-consuming to recover funds from an incorrect payment, and there is a limited likelihood of success.

  • The account details you entered do not match the details held by the payee’s financial institution.
  • You should recheck the details or contact the payee.
  • If you receive a no match message, we strongly encourage you to confirm the details with the intended recipient before progressing and finalising the payment. It may be difficult, challenging and time-consuming to recover funds from an incorrect payment, with a limited likelihood of success.
  • If something doesn’t seem right, you can decide not to proceed.

  • The service could not confirm the account details you entered.

Depending on the error received, you can try one of the following options:

  • Decide not to proceed with the payment.
  • If you receive an error message, we strongly encourage you to confirm the details with the intended recipient before progressing and finalising the payment. It may be difficult, challenging and time-consuming to recover funds from an incorrect payment, with a limited likelihood of success

 

 

 

 

 

 

Frequently Asked

Questions

 

 

 

Confirmation of Payee is an industry-wide service that adds a layer of protection for payments to a BSB and account number. It checks the account name, BSB and account number you’ve entered against the details held by the recipient’s bank and lets you know whether it’s a match. This can help you make informed decisions before you make a payment, reducing the risk of scams and mistaken payments.

*Confirmation of Payee is an initiative of Australian Payments Plus, the same organisation that also provides trusted payment services like BPAY®, Osko®, eftpos®, PayID® and PayTo®.

Confirmation of Payee checks the account name, BSB and account number you’ve entered against the details held by the recipient’s bank to let you know whether it’s a match or a close match – or if the details don’t match at all. All Confirmation of Payee information is passed securely between financial institutions to ensure your data remains safe.

If you are receiving money into a personal account, the person who’s paying you will be shown the account name only if the name they have entered is a match or a close match. If any of these details are incorrect, the name will not be shown to protect your privacy. If you are receiving money into a non-personal account, the name of your account will be shown to the payer, regardless of whether it’s a match or not.

Confirmation of Payee will check account details for all first-time payments or future dated first time payments set up to a BSB and account number and when you make amendments to your online banking address book. An additional check will be made to a saved payee when a payment has not been made to the saved payee in the last 6 months.

Account match means the details you’ve entered match the bank records of the intended recipient.

‘Close match’ means the details you’ve entered closely match the bank records of the intended recipient.

‘No match’ means that the details you entered do not match the bank records of the intended recipient.

‘Error’ means that the service could not confirm the account details you entered.

Yes. Confirmation of Payee will never stop you from completing a payment. We encourage you to be scam-aware and always take steps to make sure you know who you are paying, as scams or mistaken payments may be difficult, challenging and time-consuming to recover funds from, and there is a limited likelihood of success.

Names with special characters, like apostrophes (‘), will still match without being entered. For example, enter O’Connor as O Connor or OConnor. Or an account name with an ampersand (&) such as Paper & Pen can be entered as Paper Pen.

If the name you’re trying to enter exceeds a character limit in your online banking, let the recipient know and consider how best to proceed by contacting us on 1800 353 041 or send a secure mail message from your online banking session.

If you enter the wrong account details, you can end up sending your money to the wrong recipient. This can be difficult and time-consuming to resolve, which is why it’s important to check the accuracy of the details you enter before you send your money.

Eligible members may request to be opted out of the Confirmation of Payee service. This means your account name and match outcome will not be displayed to payers and could impact the likelihood of the payer proceeding with the payment. To understand the opt out process and the implications, please contact us on 1800 353 041 or send a secure mail message from your online banking session.

To ensure your name is accurate in the Confirmation of Payee service, please contact us on 1800 353 041 or send a secure mail message from your online banking session.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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*BPAY and Osko are registered trade marks of BPAY Pty Ltd ABN 69 079 137 518​ | eftpos is a registered trade mark of eftpos ABN 37 136 180 366 ​| PayID and PayTo are registered trade marks of NPP Australia Ltd ABN 68 601 428 737​
General Advice Warning: In providing you with this information, you should consider the appropriateness of this product or service with regard to your particular financial situation and needs. We advise that you carefully read our Product Disclosure Statement and associated Disclosure Documents before acquiring a product.