Confirmation of Payee (CoP) provides a layer of protection when making payments to a BSB and account number. It matches the account details entered by the payer with the account details held by the recipient’s bank and returns a match outcome. This helps payers make informed decisions before proceeding with a payment. By verifying that the account name entered during a payment or account-setup process matches the name held by the receiving financial institution, CoP gives customers greater confidence that their payment is going to the intended person or business. This added layer of assurance helps prevent mistakes such as sending money to the wrong payee due to typos, outdated address-book details, or similarly named accounts.
Modified at 2026-07-16 13:40:06
