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 made available in the MyState Bank mobile banking app and internet banking later in 2025. When this service is available, if 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 MyState Bank 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.
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 share the account name, BSB 807 009 and account number for your bank account (you can find these details in Online Banking or on your bank statement). 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.
How do I share my account details to receive a payment?
Mobile banking app
1. Select your account
2. From Details click Share to copy your details
We’re working on enhancements to make it easier to share your payment details to include ‘account name’ through Online Banking in the future.
Where can I find my account name?
Your account name is the name registered on your MyState Bank account. You may need to provide this when receiving payments, as some banks will check that it matches their records before processing a transfer.
You can find your account name:
In Online Banking – Check your account details or bank statements.
On your bank statement – Available in Online Banking or sent to you if you receive paper statements.
What name do I share for my joint account when people are paying me?
If you have a joint account and you’re wanting to share your account details to receive a payment, you only need to share the first listed account owner name. You can find the first listed account owner by checking the account name on your statement in Online Banking or by calling our Customer Care team on 138 001.
What will happen to my existing saved payees and recurring payments?
No change, unless you make an edit.
Can I opt out of having my name displayed to others?
In some circumstances, 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 138 001, or visit your nearest branch during operating hours.
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 contact us on 138 001.
Are international payments included in this service?
The Confirmation of Payee service only applies to domestic payments.
