Confirmation of Payee FAQs

What is Confirmation of Payee (CoP)?

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.

What does this mean for me?

Confirmation of Payee is a feature available in the Heritage Bank app and Heritage Online.

Your account number, BSB and account name will be used by customers of other banks when they attempt to send money to your Heritage Bank account to provide Confirmation of Payee results.

All CoP data is securely passed between banks to keep your information safe.

Note: If you have a personal account then your full account name will not be displayed to the payer if the match result is a ‘No-Match’.

If you have a business account, then the full account name associated with the account will be displayed to the payer even if the account name match result is a ‘No-Match’.

 

How do I activate Confirmation of Payee?

You don’t need to do anything. Confirmation of Payee is already active in Heritage Online and the Heritage App. When you make a payment to a new payee using a BSB and account number, or edit a saved 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 account 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 where you intend it to.

How does Heritage 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 account 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 at the following times: 

  • When you make a payment for the first time to a new payee  
  • When you add a new payee to your address book 
  • When you update an existing payee in your address book 

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.  
    • 'Error' means that the service could not confirm that the account details match.
    • 'Account closed' means the account is no longer active and you will not be able to continue with the payment.
    • 'Account not found' means the account cannot be found and matched by the service. 

Can I still make the payment whatever the match outcome?

Yes. Confirmation of Payee will never stop you from completing a payment except if the match outcome comes back as account closed. We encourage you to be scam aware and always take steps to make sure you know who you are paying, as money lost to scams or mistaken payments may not be recoverable. 

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

If you want to get paid without any confusion or potential delays, you should provide the account name, BSB, and account number exactly as recorded on your account. This includes using the correct spelling and any middle names that form part of your account name. If you’re uncertain, it’s best to check these details with us. This is also relevant for businesses whose account name may differ from their trading name, such as when a specific part of the business operates under a different name.  

You can find your account name on your bank statement, within the App or when logged into Online Banking.

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

Names with special characters, like apostrophes (‘), will still match without the special character 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 13 14 22.

The account number field won’t accept the full account number, what do I do?

If the account number you're entering exceeds the character limit in your online banking and the account number you are entering starts with zeros, you can remove the zeros and check those account details match. If you're still unsure, let the recipient know and contact us on 13 14 22.

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 13 14 22.

I’ve changed my name, how do I update so the service shows my new name?

To ensure your account name is accurate in the Confirmation of Payee service, please contact us on 13 14 22.

What if I receive an email or text message from Confirmation of Payee?

Confirmation of Payee is a service managed by Heritage Bank to help keep your payments secure. If you receive any message or phone call claiming to be from Confirmation of Payee asking you to send or receive money, it is a scam. 

If you believe you have been scammed, please contact us on 13 14 22.
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