Confirmation of Payee (CoP) helps safeguard payers from scams and mistaken payments by providing the opportunity to check account or facility details before submitting a payment to a BSB and account or facility number.
With Confirmation of Payee, Associate* customers have added confidence that their payment is going where they intended.
What is Confirmation of Payee?
Confirmation of Payee is an industry-wide service that matches the bank account or facility details entered by a payer with those held by the recipient's financial institution and displays a match outcome to the payer.
It gives financial institutions another vital tool to combat fraud and scams and provides an added layer of protection for Australian consumers and businesses when transferring money online.
How does it work:
Confirmation of Payee provides confidence by matching if the BSB, account or facility number and name entered by the payer matches with the account or facility details held by the recipient's financial institution and provides a match outcome. The payer can then make an informed decision about what to do next – pay, check the details with the intended recipient or choose not to proceed with the payment altogether.
Why does it matter:
Confirmation of Payee can help safeguard Associate individuals and businesses from fraud, scams, and mistaken payments, and help protect their money.
It provides confidence that the details entered match the details held by the recipient's bank or financial institution.
Who is it for?
This feature is now being introduced by LLL and other financial institutions across Australia.
For Associate customers, when sending money to a BSB and account or facility number of another financial institution, the details you've entered will be matched against the account details held by the recipient's financial institution, and you'll see a match outcome.
This can help you feel more confident that your money is going where you intend it to and help you avoid mistaken or fraudulent payments to accounts or facilities.
Confirmation of Payee outcomes
When making a payment to a new payee via LLL Online there are four possible match outcomes. Each result gives the payer a chance to make an informed decision about what action to take next.
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Match
The account or facility details you entered match the financial institution records of the intended recipient, and the recipient's name will be displayed.
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Close match
The account or facility details you entered closely match the financial institution records of the intended recipient, and the recipient's name will be displayed.
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No match
The account or facility details you entered do not match the financial institution records of the intended recipient. The recipient's name will not be displayed unless it is a business or government organisation.
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Error
The service could not confirm the account or facility details you entered match.
Any of these outcomes will allow you to make an informed decision to pay, check the details with the intended recipient or choose not to proceed with the payment altogether.
FAQs
What is Confirmation of Payee?
For Associate customers Confirmation of Payee adds a layer of protection for payments to a BSB and account or facility number. It checks the details you've entered against the details held by the recipient's bank or financial institution 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®, PayID® and PayTo®.
How do I activate Confirmation of Payee?
You don't need to do anything. Confirmation of Payee is already available in LLL Online. When you make a payment to a BSB and account or facility number or edit a payee's BSB and account or facility name or number, you will be given the match result before you make a payment.
How does LLL check my details?
All Confirmation of Payee information is passed securely between financial institutions to ensure your data remains safe.
Which LLL facility does this feature apply to?
For external payments, this feature is only available on LLL Instant Access Facilities operated by Associate* customers.
Payments received into LLL facilities can be confirmed by the Confirmation of Payee service provided by external banks and financial institutions.
I'm receiving money into my account – who can see my information?
If you are receiving money into your facility, the person who's paying you will be shown the facility name only if the name they have entered is a match or a close match. If any of these details are incorrect, the facility name will not be shown to protect your privacy.
If you're a business or government organisation that's receiving a payment, the name of your facility will be shown to the payer, regardless of whether it's a match or not.
When does Confirmation of Payee check payment details?
Confirmation of Payee will check account details for all first-time payments, including future dated, to a BSB and account or facility number and when you make amendments in your LLL Online list of payees.
Can I still make the payment whatever the match outcome?
Yes. Confirmation of Payee will never stop you from completing a payment. You are responsible for ensuring that payments are made to the correct account or facility to reduce the risk of a scam or mistaken payment. You will be liable for losses arising from a mistaken payment or misdirected payment you or your signatory makes to a third party.
What information should I share when I want to receive payments?
To get paid without any confusion or potential delays, you should provide the facility name, LLL's BSB (704942), and facility number exactly as recorded by LLL. This includes using the correct spelling and any middle names that form part of your facility name. If you're uncertain, login into LLL Online or please contact LLL.
This is also relevant for businesses whose facility name may differ from their trading name, such as when a specific part of the business operates under a different name.
What should I do when a name has special characters, such as ', -, or &?
Names with special characters, like apostrophes ('), will still match without being entered. For example, enter "O'Brien" as "O Brien" or "Obrien". Or an account name with an ampersand (&) such as Paper & Pen can be entered as Paper Pen.
The name field won't accept the full name, what do I do?
If the name you're trying to enter exceeds a character limit in LLL Online, let the recipient know and/or consider how best to proceed by contacting us.
The account or facility number field won't accept the full account number, what do I do?
If the account or facility number you're entering exceeds the character limit in LLL Online and the number you are entering starts with zeros, you can remove the zeros and check those account or facility details match. If you're still unsure, let the recipient know or contact LLL.
Can I opt out of having my name displayed to others?
Eligible customers may request to be opted-out of the Confirmation of Payee service. This means your facility 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 LLL.
I received an email or text message from Confirmation of Payee
The Confirmation of Payee service is managed by your financial institution. Confirmation of Payee will never contact you directly. Confirmation of Payee will never ask you to send money, receive money or share your account details. Emails or text messages claiming to be from Confirmation of Payee are a scam. If you believe you have been scammed, please contact LLL or your financial institution.
I'm having difficulties
If you're experiencing issues or have further queries please contact LLL for assistance
Important information
* Eligibility criteria apply, further definitions can be referred to in the Disclosure Documents of the relevant products.
BPAY is a registered trademark of BPAY Pty Ltd ABN 69 079 137 518
PayID and PayTo are registered trademarks of NPP Australia Ltd ABN 68 601 428 737