What is Confirmation of Payee and how can I use it?
Confirmation of Payee (CoP) 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.
How does Confirmation of Payee work?
Confirmation of Payee checks the account name, account number, and BSB you’ve entered against the information registered with the receiver bank.
Confirmation of Payee is checked when you create a new beneficiary or update an existing beneficiary's details.
What are the possible match results?
Confirmation of Payee will return details for Individual, Joint accounts, and Business accounts. You may need to re-check the details used or contact the recipient, depending on the result. Possible match results include:
- Match: the name entered matches the account
- Close Match: the name entered is a close match to the account
- No Match: the name entered does not match the account
- Error: we could not confirm the account name match. Please double check the details
- Account doesn’t exist: no account found. Please check with the intended recipient
- Account is closed: this account is no longer active. Please check with the intended recipient
What should I do if it's not a match?
This means the details you entered do not match the bank records of the intended recipient.
- Make sure details are correct: sending money to the wrong account means you may not be able to get it back
- This could be a sign of a scam: don't continue if you have been contacted unexpectedly and asked to make a transfer.