Confirmation of Payee is an industry-wide service designed to help protect you from scams or mistakenly sending money to the wrong account. This built-in check has now been rolled out at Summerland Bank in line with all banking institutions across Australia.

Confirmation of Payee helps safeguard people and businesses from fraud, scams, and mistaken payments. It provides confidence that the details you enter match the details held by the recipient’s bank.

This service also gives banks and financial institutions another vital tool to combat fraud and scams, further building trust when making payments using a BSB and account number in Australia.

Stop, Check and Protect.

This new layer of protection supports everyday banking and reminds customers to:

• Stop. Take a moment. Scammers often create a sense of urgency to trick you into acting quickly.
• Check. Always verify who you’re dealing with. Look up contact details independently and double-check unusual requests.
• Protect. If something feels off, trust your instincts. Report it, contact your bank, and take action to protect your personal and financial information.

How it works:

When you’re sending money to a 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. You’ll then see a match outcome, giving you greater confidence that your money is going where you intend. For more information, visit: Confirmation of Payee