Confirmation of payee

What is Confirmation of Payee?

A new feature coming soon, Confirmation of Payee adds a layer of protection when you’re sending money to a BSB and account number. It can help reduce your risk of being scammed or sending your money to the wrong account.

The service matches the account name and bank account details you enter with the account details held by the recipient’s bank and displays the outcome, which could be a match, a close match or a no match.

Using this information, you can choose whether you want to go ahead and make the payment, pause and check the details again – or stop the payment altogether.

Protecting your money

Built-in Check

Built-in to your online banking, Confirmation of Payee automatically checks the account name, BSB and account number details you’ve entered with the account details held by the recipient’s bank.

Built-in Check
More Protection

Confirmation of Payee adds a layer of protection before a payment is completed to help minimise frauds, errors and enhance payment accuracy.

More Protection
Confidence

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

Confidence
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.

Avoid Mistakes

Payee Match

The account details you entered match the bank records of the intended recipient, and the recipient’s name will be displayed.

To get a ‘Match’ when making a payment via online banking with Confirmation of Payee, you’ll need to ensure that the account name, BSB, and account number you enter align with the details held by the recipient’s bank.

 

 

Payee – Close Match, No Match or Error

Close Match – The account details you entered closely match the bank records of the intended recipient, and the recipient’s name will be displayed.

No Match – The account details you entered do not match the bank records of the intended recipient. The recipient’s name will not be displayed unless it is a business or government organisation.

Error – The service could not confirm the account details you entered match.

Payee – Next Steps

If you see a ‘Close Match’, ‘No Match’ or ‘Error’, take a moment to double-check the account name and number you’ve entered -sometimes, a small typo can make all the difference.

Still not matching? It’s always a good idea to reach out to the person you’re paying and confirm their details before proceeding.

You’re in control – whether you choose to go ahead with the payment, update the details, or cancel it, we’re here to help you bank with confidence.

  • The Little Details

    Products issued by Southern Cross Credit Union Ltd. Any advice given is of a general nature only and is not based on any consideration of your objectives, financial situation and needs. To decide if a product is right for you, please refer to the Summary of Accounts, Access Facilities and Transaction Limits. Eligibility criteria, fees and charges, terms and conditions apply. To help you better asses if these products are right for you please reach out to our team or read through our Target Market Determinations (TMD), designed to help you make an informed decision that is consistent with your objectives, financial situations and needs.

    Southern Cross Credit Union Ltd. ABN 82 087 650 682 AFSL 241000.

Confirmation of Payee FAQs

  • What is Confirmation of Payee?

    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.

  • How do I activate Confirmation of Payee?

    You don’t need to do anything. Once this feature is live, Confirmation of Payee will be available in your NetBanking and Mobile App. When you make a payment to a BSB and account number, create a new stored payee or edit a stored payee with BSB and account details or create or edit a payee’s BSB and account number, you will be given the match result before you make a payment.

  • How does Confirmation of Payee work?

    When you make a payment to a BSB and account number, Confirmation of Payee checks the details you enter against the name, BSB and account number held by the recipient’s bank and gives you a match outcome. That helps you decide what you want to do next – and gives you more confidence that the money you’re paying is going to the right account.

  • How does SCCU check my details?

    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.

  • I’m receiving money into my account – who can see my information?

    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 hold a business or government organisation account that’s receiving a payment, the name of your account will be shown to the payer, regardless of whether it’s a match or not.

  • Can I still make the payment whatever the match outcome?

    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 to retrieve.