Bank of Melbourne Verify with Confirmation of Payee
Adding a new payee using a BSB and account number? Learn how our extra layer of scam defence could help you pay the right person.
What is it?
Bank of Melbourne Verify with Confirmation of Payee (CoP) helps you to make informed decisions by adding an extra layer of protection every time you add a new payee. This helps reduce the risk of making a payment to the wrong account, and protect you from scams such as Payment Redirection or Business Email Compromise scams.
How it works
We complete our check automatically by reviewing account details, in real time, through two ways:
Confirmation of Payee
We'll check if the account details entered by a payer (account name, BSB, and account number) matches the details held by the recipient's bank, and;
Bank of Melbourne Verify
We'll check our previous payment data to see if the details (account name, BSB, and account number) have been commonly used by other Bank of Melbourne customers.
We'll share the match outcome with you (where available) before you make the payment so that you don't pay the wrong person.
How it helps protect my money
What to expect
- We'll explain the match outcome and provide next steps. If we alert you to a mismatch, consider performing our recommended steps.
- To stay safe, it’s best to call the payee directly to check their bank account details.
- If you send money to the wrong account, we may not be able to recover your funds.
What might I see
Everything checks out
The details you’ve entered match the account details held by the receiving financial institution, and/or the details have been commonly used by other Bank of Melbourne customers.
Details don't match
The details you've entered don't match the account details held by the receiving financial institution. We also haven’t seen this account name used by other Bank of Melbourne customers before to pay this BSB and account number. Call the payee to confirm the details or check you've not entered account details incorrectly.
Worth a second look
The details you’ve entered match the account details held by the receiving financial institution, but we haven’t seen many payments made by other Bank of Melbourne customers to this account.
Try again later
We’re unable to check the account details right now. Try adding the payee later, or verbally check with the payee to be scam aware and to avoid mistaken payments.
Scams can happen anywhere anytime
Scammers constantly evolve their approach, using different tactics to make you pay, or gain access to your personal or financial information. Remember, a scam can happen to anyone.
Frequently asked questions
Bank of Melbourne Verify will check the account name used for other payments we've seen made to the BSB and account number entered. We’ll let you know if the account name you've entered is not commonly used.
Commonly shortened names, e.g., Chris or Ben, will be taken into consideration when providing you an outcome.
Verify with Confirmation of Payee:
- checks if the account details entered by a payer (account name, BSB and account number) matches the details held by the recipient's bank, and
- checks our previous payment data to see if the account details (account name, BSB, and account number) have been commonly used by other Bank of Melbourne customers.
Where available, we’ll let you know if the account details you've entered (account name, BSB, and account number) matches the details held by the recipient's financial institution or matches the details commonly used by other Bank of Melbourne customers in previous payments data. We'll also let you know if we experience issues checking the bank records.
The Detail
Bank of Melbourne Verify with Confirmation of Payee screening is based on the payment information available at the time you add or edit your payee details. It may be affected by such things as system outages or limitations, scheduled maintenance or other factors beyond our control, and may not be available at all times.
Bank of Melbourne Verify with Confirmation of Payee is only available in Bank of Melbourne Internet and Mobile Banking. Verify with Confirmation of Payee Terms & Conditions (PDF 96KB) apply.
If Confirmation of Payee service is unavailable, we are unable to validate the account details with the recipient bank.