Confirmation of Payee

Frequently asked questions

• 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. Confirmation of Payee will be available in Internet Banking and the Bank First App.

  When you make a payment to a BSB and account number, 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 Bank First 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're 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.

• When does Confirmation of Payee check payment details?

  Confirmation of Payee will check account details for all or future dated set 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. Additional checks may be made depending on the financial institution.

• What do the match outcomes mean?

  • 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.

   

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

  Yes. Confirmation of Payee will never stop you from completing a payment.

  You are responsible for ensuring that payments are made to the correct account to reduce the risk of a scam or mistaken payment. You will be liable for losses arising from a mistaken payment or misdirected payment you or your signatory makes to a third party, and it is not possible for us to recover those funds from the unintended recipient.

• What information should I share when I want to receive payments?

  Sharing your name, BSB and account number of your bank account may avoid confusion or potential delays when a payer wishes to make a payment to you.

  This is especially important if you're a business with an account name that differs from the name you're using to take a payment; for instance, if you have a different trading name for a particular part of your business.

• What should I do when a name has special characters, such as ', -, or &?

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

• The name field won't accept the full name, what do I do?

  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 1300 654 822.

• What’s a mistaken payment?

  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.

• Can I opt out of having my name displayed to others?

  Eligible customers 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 1300 654 822.

• Can I opt back in to Confirmation of Payee service?

  Yes, if you'd like to opt back in to Confirmation of Payee service, fill out this form.

• 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 complete our Change of Name form and return to us via the following methods:

  • Email: info@bankfirst.com.au

  • Mail: Bank First Reply Paid 338 Camberwell VIC 3124