From 12 November 2025, Australian Mutual Bank will be rolling out Confirmation of Payee (CoP), a service developed by Australian Payments Plus (AP+) to help protect you from scams and accidental payments. CoP verifies that the name you enter for a payment matches the account name held by the receiving bank, so you can be confident your money reaches the intended recipient.
How it works
CoP will be available for payments made via the Australian Mutual Bank mobile banking app and Internet Banking. When you make a first-time payment, you’ll enter the account name, BSB, and account number. CoP will then check the details and show one of the following outcomes:
- Match: The account name matches exactly, so you can proceed with confidence.
- Close match: Names are slightly different (e.g., “John Smith” vs. “John Smyth”), allowing you to double-check.
- No match: For individual accounts, no name is shown, prompting you to verify the details.
- Business or government accounts: Names may still be displayed even without a full match.
- Error: The service could not confirm the account details, prompting you to verify the details with intended recipient.
Based on the result, you can proceed, double-check, or stop the payment.
Privacy is built in
CoP is designed to keep your information secure:
- Only the account name you enter is displayed for individual accounts.
- For accounts with multiple holders, only the person named by the payer is shown, with “and others” to indicate additional holders.
- No account data is stored centrally; all information remains with your bank.
Why it matters
Scams are a growing problem - Australians lost $2 billion to scams in 2024, including $152.6 million to redirection scams alone. CoP can help reduce these risks:
- In the Netherlands, a similar system led to an 81% reduction in impersonation fraud and 67% fewer misdirected payments (Source: https://surepay.co.uk/surepay-partners-with-temenos)
- PayID® research shows that 1 in 4 users stopped or corrected a payment after seeing the payee name before sending (Source: NPP - PayID Research highlights 2022 - July 2022)
CoP checks are instant, so you get extra security without any delays in your payments.
Australian Mutual Bank is proud to offer this service as part of our ongoing commitment to help protect our members and make banking safer for everyone.
If you have any questions about the service, we’re here to help. Please give us a call on 13 61 91, Monday to Friday between 8:00am - 7:00pm, or Saturday between 8.30am - 11.30am (Sydney NSW local time) for further assistance.
PayID® is a registered trademark of NPP Australia Ltd ABN 68 601 428 737
