Confirmation of Payee is a name-checking service. It allows individuals and businesses sending payments to Australia to verify if the recipient's name matches the one on their account.
It helps to make sure that people are sending money to the correct account. It’s part of a greater effort by Australian financial institutions to tackle scams and fraud.
How it works
When you set up a new recipient, the receiving bank checks the name on their bank account. You'll then be shown one of these outcomes:
Match – the name completely matches with the name on the Wise account
Close Match – the name partially matches, but it’s a close match. E.g. "Mick Jager" instead of "Mick Jagger"
No Match – the name doesn’t match with the name on the recipient account
Error – the name can’t be checked. This may happen if an account doesn't exist, the account is closed or the recipient bank is unable to provide recipient information
Name checks only happen between banks that have the Confirmation of Payee connection established.
What you should know
When setting up a new AUD recipient, we’ll tell you if the name you entered matches the one listed for the account details. We'll also let you know if we haven’t been able to check the name.
In all cases, you should double-check whether you are sending money to the correct person or business before completing the payment.
If you decide to continue without receiving confirmation of the name being correct, we may not be able to recover your money if it ends up in the wrong account.
Learn more about cancelling completed transfers
How to opt out of CoP
If you’d like to opt your Wise account out of Confirmation of Payee, send an email to aus_confirmationofpayee@wise.com with the following format:
Email Subject: Confirmation of Payee Opt-Out Request
Details to add:
The full name on your Wise Account
Your Wise account membership number (starting with a P, followed by 8 numbers)
Specific profile for opt-out (i.e. your personal or business profile)
Reasons for opting-out of CoP
We aim to review your request within 1 working day. If we deny your request, we’ll let you know why. You can appeal a rejection by replying to the same email.