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Confirmation of Payee

Confirmation of Payee is a service for NZ based payments which provides a check to see if account holder names and account numbers match before making a payment. This reduces the risk of making a mistake and paying the wrong person, and can help to avoid scams. It's important to remember that the Confirmation of Payment service is a pre-payment check. After the account holder name has been verified, you will still need to initiate the payment as the final step. 

What is Confirmation of Payee?

It is a service for NZ based payments which provides a check to see if account holder names and account numbers match before making a payment. This reduces the risk of making a mistake and paying the wrong person, and can help to avoid scams.

What is a payee?

A payee is the term used to describe the person or business that you are paying money to.

How does it work?

The Confirmation of Payee check is done using secure software. It compares the account information entered by the payer in their online or mobile banking app with the details held by the recipient's bank. The software checks if the entered account holder's name matches the bank's records for that account number. All account information used in the check is fully encrypted and is not stored after the process is complete.

Is my data safe?

Yes. To perform the Confirmation of Payee check, only account holder names and bank account numbers are collected and processed to perform the matching service. The service uses data encryption to perform the match and provide match notifications, without storing any personal information. The service is built to comply with the Privacy Act 2020 and adheres to high security standards.

When are the Confirmation of Payee checks done?

The checks are only done when you:

  • Save a new payee
  • Edit an existing payee
  • Make a one-off payment to an unsaved payee

 

The checks are not done when:

  • You make a payment to an overseas bank account
  • You pay an 'Approved Payee' such as a business, council or utility company, as these organisations will have already been checked and verified by the bank
  • An existing automatic payment is made (unless you change the details)
  • You make a credit, debit or EFTPOS card payment
  • You make a payment to an IRD payee


Is this service available through all banks?

The new service is being launched in a phased delivery in New Zealand from the end of November 2024. Each bank is implementing the service in different stages with enhancements made over time. During this initial period, Members might find it is available from some banks and not others, alternatively it might be available on online banking platforms but not mobile banking apps, as different services become available.

What type of payments are included in the Confirmation of Payee service?

From the end of November 2024, the Confirmation of Payee check on payments can be made from personal online and mobile banking apps to New Zealand based accounts.

Why is it important I get the payee details correct?

It’s important that you don’t send money to the wrong place as we may not be able to get it back. Make sure you know and trust the recipient and check with the person or business that the account details you have are correct.

Joint accounts
If you need to make a payment to a joint account, you will need to ask at least one of the names of one of the account holders exactly as it appears on their account statement. Alternatively, you can use all the names of the account holders too for a Confirmation of Payee check.

Business accounts
You'll need to provide the business exactly as it appears on an invoice or other payment instruction you've been given.

What does a 'Match' notification mean?

If you have used the correct account holder name, you will receive confirmation that the details match. This does not ensure a safe transaction. Always take the time to question the purpose of the transaction and the trustworthiness of the recipient before making a payment.

What does a 'Partial Match' notification mean?

If you have used a similar but not exact name to the account holder you will get a 'Partial Match' notification. You may have used a shortened name or made a small typo. You should update the details using the full account holder name to get an exact match or continue if you know and trust this payee.

What does a 'Not a Match' notification mean?

If you have entered the wrong name for the account holder, you will be told that the details do not match and advised to contact the person or organisation you are trying to pay.

If you decide to continue, you could send money to the wrong account holder and this payment may not be recoverable. Before continuing it’s a good idea to:

  • Verify the identity of the person or business you are paying
  • Check you have used the correct account holder name
  • Double-check the account number you’ve entered
  • Pause and consider whether you trust this payee
  • Always be wary if you're told to ignore a ‘not a match’ response


What does 'Account Type Can't be Checked' mean?

This is when we’ve tried to run the check and been unable to verify the account details. This might be because the account is closed or it’s a type of account that can’t accept payments. You will not be given the option to proceed with the payment if you receive this notification so you will need to check the information you have.

What does 'Can't Check Payee Details' mean?

This indicates that there may be a temporary technical issue preventing us from completing the check, or the payee's bank does not offer a matching service. If it’s a technical issue, you can try the CoP check again later or proceed only if you know and trust the account holder. If the payee’s bank does not provide a matching service, please double-check the account holder's details before proceeding forward.

Do payment details that I've set up in the past need a check?

If payees are already saved in your online or mobile banking app, they will not be checked by the Confirmation of Payee service unless you edit the saved payee. Before you make a payment, make sure you know the account details are correct and pause and consider if you trust the payee.

Who should I contact if I get a 'Not a Match' or a 'Partial Match' notification?

You should always contact the person or business you are trying to pay to check the account details you have are correct. Ask for the full account holder name and number registered to the bank account. For businesses, this may, or may not, be the same name as their trading name.

How do I avoid a 'Not a Match' or a 'Partial Match' result?

If you’re unsure of the account holder’s name or account number, contact the person or business you’re paying directly to get the correct details. Ask for the full account holder name and number registered to the bank account. For businesses, this may, or may not, be the same name as their trading name.

How many characters can I enter for the payee name?

The payee name is the field that will be used for CoP verification and can accommodate up to 140 characters.

Will a Confirmation of Payee check be required when making a payment to an existing payee?

No, Confirmation of  Payee requests will only be generated when you set up a new payee or amend an existing payee or making a one-off payment to an unsaved payee.

How do I share my account details on the mobile app?

  1. Log in to your mobile app
  2. From your accounts listed in the dashboard, select the account you want to share the details for
  3. Tap on the 'share' icon located next to the account number
  4. Now you can share your account details via your prefererd channel (messaging app, email etc)

We regularly update the SBS Bank Mobile app to enhance security for our members. As part of these updates, we may no longer support older operating systems. Below, you'll find answers to questions about supported systems and devices.

What are the compatibility requirements to use the SBS Bank Mobile app?

We regularly update the SBS Bank Mobile app to enhance security for our members. As part of these updates, we may no longer support older operating systems. Below, you'll find answers to questions about supported systems and devices.

  • You will need to be registered for SBS Internet Banking
  • You will need to have an active mobile number and a data plan or Wi-Fi connection
  • You will need to use an iPhone, iPad, or iPod Touch (iOS 15 or later), or an Android phone or tablet (version 10 or later)

How can I check and update the operating system version on my device?

For Android Devices:

  1. Open the Settings app.
  2. Scroll down and select System or About Phone.
  3. Tap Software information or System information to know the Android version of your device
  4. If your Android version is 9.x or lower, please check for updates under Software Update and follow the on-screen instructions to update and install the latest version.

For iOS Devices:

  1. Open the Settings app.
  2. Tap General and then Software Update.
  3. If an update is available, tap Download and Install.

What if my device doesn’t meet the operating system version requirements? 

If your device does not support the required operating system versions:

  • SBS Internet Banking is available as an alternative and provides full functionality, including all features available in the SBS Mobile app.
  • You may consider upgrading to a newer device to ensure secure and uninterrupted access to our services.

How does it affect people who are paying me?

From the end of November 2024, the Confirmation of Payee service will allow people to check if account holder names and account numbers match before making a payment. This reduces the risk of making a mistake and paying the wrong person, and can help to avoid scams. To get paid quickly and easily, you must provide the right account information. Where before you might have shared only your account number, now, you must share the correct account number and full name registered to that account. If members enter the wrong account holder name, they may be notified that the details don’t match and are advised to contact the person or business they are trying to pay.

How can I check what my account holder name is?

You can find this information on SBS Internet Banking.  Go to:

  • Login
  • Home 
  • Click on the hamburger menu of the account you wish to see account holder name for
  • View details


From 28 November, you will also be able see your account holder name within the mobile app on the account details screen.

Is SBS Bank requiring the use of the account name, or the use of the account holders full first and last legal names? 

  • Like the other banks, to receive an accurate response, you will need to use the full first and last legal names as they appear on the recipient's account details.
  • The Confirmation of Payee service to New Zealand banks is being provided by GetVerified. You can find out more about the service by visiting its website, which you can locate by pasting 'GetVerified' into your favourite search engine. 

I would rather not share the name on my account, Do I have to share it?

Individuals and some businesses may start receiving requests for their full account details from late November. If Members enter the wrong account holder name, they may be notified that the details don’t match and advised to contact the person or business they are trying to pay. This may stop or slow down the payment. If your account holder name no longer reflects your legal name, you'll need to update your account details. If this is for an SBS Bank account, please get in touch.

I'm trying to pay one of your Members and my bank is telling me the details don't match. Can you provide me with the correct details?

Unfortunately due to privacy requirements, we are unable to share account details with anyone other than the account owner. Please contact the person you are trying to pay directly to re-confirm the account holder name and number.

How do I update my name and other account details?

If you’re trying to receive a payment from someone and they’re told the name doesn’t match, it may be that we don’t have your correct name. You can avoid payment delays by keeping your details up-to-date. If anything changes — for example, your last name if you get married — please let us know.

What can I do to protect against fraud?

To help keep your money safe, be alert when:

  • someone you don’t know asks you to make a payment
  • the name of the person you’re paying doesn’t match the account holder name
  • someone asks you to ignore the check when the account holder name doesn’t match
  • you feel pressured to make a payment
  • a person or business’s account details change unexpectedly

 

And remember:

  • don’t give out your personal or financial details
  • never open a link in an unexpected or suspicious email or text
  • a genuine bank or business will never ask you for your PIN, banking password, or to move any money