Confirmation of Payee

The account name entered by the payer matches your client’s bank account name.

The account name entered by the payer is similar, but not an exact match, to the bank’s records of your client’s account name. If the payer receives a ‘close match’ outcome and your client holds a non-individual account, your client’s account name will be displayed to the payer. The payer will still be able to proceed with the payment.

Here are some examples of what may trigger a 'close match’:

• a typo or spelling error
• adding or excluding words from your client’s account name, such as ‘Trading As’ or ‘Pty Ltd’
• changing the order of names for a joint account e.g. entering ‘Tracy Jones and Philip Jones’ instead of the account name ‘Philip Jones and Tracy Jones’.

The account name entered by the payer doesn’t match your client’s account name. If your client holds a non-individual account, their account name will be displayed to the payer. Although the payer can still make the payment, they may want to confirm the bank details with your client before proceeding with the payment.

Here are some examples of what may trigger a 'no match’ for a non-individual account:

• payer entered your client’s trading name instead of their full legal account name
• your client’s account name exceeds 35 characters.

Here are some examples of what may trigger a 'no match’ for an individual account:

• misspelling or entering incorrect middle name(s)
• excluding middle name(s)
• entering one account holder’s name for a joint account
• entering initials instead of the payee’s full account name.

The payer may receive an error message if the account name couldn’t be verified, the account is closed or doesn’t exist.

If your client is receiving money into an individual account, the person who’s paying will be shown the account name only if the name they’ve entered is a match or a close match to your client’s account name. For example, if the payer enters ‘Will Thomas' or ‘Billy Thomas’ and the account name is ‘William Thomas’, this may be considered a match, and the account name will be displayed to the payer.

If your client holds a joint account and the payer enters one account holder’s name, only that name will be displayed to the payer, followed by ‘and others’ to indicate there are other account holders.

If your client holds a non-individual account that’s receiving a payment, the name of your client's account will be shown to the payer, regardless of whether it’s a match or not.

Non-individual accounts include: 

• Trusts (e.g. SMSFs and family trusts)
• Company accounts 
• Incorporated associations.