How does Confirmation of Payee work?

Confirmation of Payee (CoP) is a security feature that helps protect you from misdirected payments and fraud by checking that the account details you enter match the intended recipient. It’s automatically triggered when you:
    

       - Pay someone for the first time thereby establishing and setting up a new payee.

Here’s how it works:

1. You enter the payee’s name, BSB, and account number.
2. We securely send this information to the payee’s bank.
3. Their bank checks if the name you entered matches the name on the account.
4. You receive a match result — it could be an exact match, close match, or no match.
5. You decide how to proceed: continue with the payment, double-check the details with the payee, or cancel the transaction.

This quick check helps you make informed decisions and gives you greater confidence that your payment is going to the correct account.

Important Reminders:

•  Always confirm payment requests directly with the payee, using a known or publicly listed phone number, to ensure the request is legitimate.
• While CoP adds a valuable layer of protection, it's still your responsibility to 
enter the correct BSB and account number. If you enter the wrong details, the payment could go to the wrong account — and in some cases, it may not be possible to recover the money.