Payee Verification

What is Payee Verification? 

• Payee Verification is a security tool that helps protect customers make sure they are sending money to the right person or business.
• When a customer enters a payee’s details (BSB, Account Number and Payee Account Name), the system checks with the receiving bank (or CoP service provider e.g. big banks) to see if the supplied name matches the account.
• The system will then show the customer the result so the customer can decide whether to proceed or continue the payment.

How does Payee Verification work?

At ABAL Banking, we believe you should always feel in control of your finances, which is why we’ve integrated Payee Verification directly into your payment experience. 

This essential security tool acts as a smart safeguard, instantly alerting you if a payee’s name doesn’t match their account details to help you catch mistakes before they happen. 

By giving you a moment to pause and double-check the destination of your funds, we provide a defense that significantly reduces the risk of scams and ensures your money goes exactly where you intended. This safeguard works in real-time: 

• When setting up a new payee (Add Payee), giving you immediate confidence from the very first transaction.
• When editing a payee (Edit Payee), to ensure that any updated details remain accurate and secure.
• When adding and editing a payee during setup of Domestic transfer or Group Transfer, providing a seamless layer of protection across all your local payments. 

Payee Verification Does not?

• Guarantee the payee is legitimate: think of this check as a safety warning rather than a roadblock; it alerts you to potential mismatches without stopping your transaction
• Stop payments automatically: The final decision to proceed always rests with you, allowing you to bypass the warning if you are confident the details are correct.
• Confirm if the business is a scam or if the transaction is fraudulent: We strongly encourage you to verify the recipient’s name and account number directly with them, recovering a sent payment is not guaranteed, taking a moment to confirm the details is the best way to keep your money secure. 

Payee Verification Messages 

Payee Verification Messages help you pause, check, and protect yourself before making a payment; while it provides a warning rather than a block, the final decision to proceed rests with you, so please double-check all details before proceeding with a payment. 

	Match  The account name seems to match the account. You can proceed with confidence.
	Close Match  There is a different name more commonly used for this account. The details are similar but not exact. Please double check the payee name with the intended recipient. Double check details with the payee.
	Not Enough Information  We have not seen enough payments to indicate if the account details look right. System could not verify as there are no sufficient payment history for the supplied payee details.
	No Match  The account name does not seem to match the account. This could be a mistake or a potential scam. Pause and confirm before sending.
	Not Found BSB and Account Number not found.  The account could be new or there could be a typo. Scammers sometimes use new account to avoid new detection.  Pause and confirm before sending.
	Unable to Verify Payee Details  This is a control to stop a user from abusing the payee verification process. System may also return this message in case of technical error e.g. timeout, connection issue between abal banking and CoP service provider.