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Confirmation of Payee
Confirmation of Payee
A new way to verify recipient's account details before a payment is made.
Confirmation of Payee
A new way to verify recipient's account details before a payment is made.
What's it all about
Confirmation of Payee – Improving payment security
At Summerland Bank, we’re always looking for ways to enhance your banking experience. As part of an industry-wide initiative to improve the safety and accuracy of electronic payments, we’re introducing Confirmation of Payee.
Here's the overview
The new payments industry initiative allows every bank customer from all banks, including Summerland Bank, to see the name on the receiving Payee account before funds are sent, simply by using the intended recipient BSB and account number you’ve been provided.
This helps ensure your money goes to the right person or business and reduces the risk of mistaken or misdirected payments.
Minimises the chance of sending money to the wrong account.
This is a great step forward in helping reduce the chances of sending money to the wrong account by mistake. Supporting you with better, simpler banking.
Making payments safer and smarter
We’re making it even easier to bank with confidence – that’s why Summerland Bank is joining the Confirmation of Payee industry initiative.
Updates to our policies
Want to learn more? As part of implementing this initiative, we’ve updated our Terms & Conditions and Privacy Statement – effective from 30 June 2025.
Keeping you informed
As the Confirmation of Payee initiative continues to roll out, we’ll keep this page updated with the latest information and developments, so you’re always in the know and can stay confident when managing your payments.
Don't want to confirm your name back to Payer?
We understand some customers may prefer not to share their account name. If you’d like not to share, you can request this, and we’ll consider all requests based on merit. We refer to this as opt-out.
How to request opt-out
Requests to opt-out will be reviewed upon receipt of the completed form and any required supporting documentation.
You can access the form here, which we will consider upon merit.
How to opt-out
Need to keep your account name private?
We understand that some customers may have valid reasons for choosing not to share their account name. If you’d prefer not to take part in Confirmation of Payee, you’re welcome to submit an opt-out request.
These requests will be reviewed upon receipt of the completed opt-out form and any required supporting documentation.
You can access the form here, which we will consider upon merit.
Confirm who you're paying, before you pay.
Confirmation of Payee is an industry-wide service that matches the bank account details entered by a
payer with the account details held by the recipient’s bank and displays a match outcome to the payer.
How it works.
When you’re sending money to a business or person using their BSB and account number, Confirmation of Payee will check the account details you’ve entered with the account details held by the recipient’s bank and let you know the match outcome. This gives you the chance 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.
Match outcomes.
Match outcomes help you decide what you want to do next – and give you more confidence that the money you’re paying is going to the right account.
Account match
Account match means the details you’ve entered match the bank records of the intended recipient.
Close match
‘Close match’ means the details you’ve entered closely match the bank records of the intended recipient.
No match
‘No match’ means that the details you entered do not match the bank records of the intended recipient.
Error
The service could not confirm the account details you entered match.
Frequently asked questions.
The answers to the questions we hear the most, in easy-to-understand language.
What is Confirmation of Payee?
Confirmation of Payee is an industry-wide initiative that adds an extra layer of security when transferring funds to a BSB and account number. This service verifies the account name, BSB, and account number entered against the records held by the recipient’s financial institution, notifying you whether the details match.
This can help you make informed decisions before processing payments, helping to reduce the risks of scams and mistaken transfers.
This service is provided by Australian Payments Plus, the organisation responsible for trusted payment solutions such as BPAY, Osko, Eftpos, PayID, and PayTo.
How do I activate Confirmation of Payee?
You don’t need to do anything. Confirmation of Payee will already be available in your online banking. When making or editing a payment to a BSB and account number, the match result will be shown before the transaction completes.
How does Confirmation of Payee work?
When making a payment to a BSB and account number, Confirmation of Payee checks the details you enter held by the recipient’s bank and gives you a match outcome. This 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 the bank 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 if it’s a match, a close match or not a match at all. All Confirmation of Payee information is passed securely between financial institutions to ensure your data remains confidential.
I’m receiving money into my account – who can see my information?
For personal accounts, the person who is paying you will be shown the account name only if it’s an exact or close match. If any of these details are incorrect or not a match, the name will not be shown to protect your privacy.
If you’re a business or government account, the name will be shown to the payer, regardless of whether it’s a match or not.
When are payment details verified?
Confirmation of Payee checks are done for all payments scheduled now or in the future to a BSB and account number, as well as when edits are made to an online banking address book. Some financial institutions may perform additional checks.
What do the match outcomes mean?
‘Account Match’ – means the details you’ve entered exactly match the recipient’s bank details.
‘Close Match’ – means the details you’ve entered closely match the bank records for the intended recipient.
‘No Match’ – means that the details you entered do not match the bank records of the intended recipient.
Can I still make the payment regardless of the outcome?
Yes. Confirmation of Payee will never stop you from completing a payment. We encourage you to always take precautionary steps to make sure you know who you are paying, as scams or mistaken payments may be difficult to retrieve.
What information should I share when I want to receive payments?
To help with accurate and timely payments, you should share your full name, BSB and account number for your bank account.
This is especially important if you’re a business with an account name that differs from the name you’re using to take payments; for instance, where the trading name is different from your registered account name.
What should I do if a name includes special characters like ‘, -, or &?
Names containing special characters like – or & will match even if those symbols are removed. For example, “O’Brien” can be entered as “O Brien” or “Obrien,” and “Paper & Pen” as “Paper Pen.”
What if the account name field exceeds the character limit?
If the account name is too long for the input field, let the recipient know and contact us or the relevant financial institution on how best to proceed.
What is considered a mistaken payment?
If you enter the wrong account details, you can end up sending your money to the wrong recipient, which can be difficult and time-consuming to resolve. Which is why it’s important to check the accuracy of the details before proceeding with payment.
Can I opt out of having my name displayed to others?
Eligible customers may request to opt 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 any implications, please discuss it with your financial institutions, including us.
I’ve changed my name. How do I update so the service shows my new name?
To ensure your name is accurate in the Confirmation of Payee service, please contact each of your financial institutions, including us, to ensure your account details are up to date.
Has Summerland Bank completely implemented Confirmation of Payee?
Confirmation of Payee is rolling out at Summerland Bank in two parts.
Part One: Already completed – Making sure all customer payment details are made available to other bank customers to confirm the payments are being sent correctly.
Part Two: To be completed by the end of September 2025 – Summerland Bank customers
will be able to request account names for payments they wish to make, to ensure payments are going to the correct account.
Is there something else we can help you with?
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