Confirmation of Payee is a service currently being phased in by participating New Zealand banks to confirm payee details on payments using mobile banking apps or internet banking. If you offer bank deposit as a payment method, your Felt payment preferences must include the exact name registered to your account to get a perfect match.
From the end of November 2024, participating New Zealand banks are phasing in Confirmation of Payee, a service that makes it easier for customers to check if the name and account details of the person they’re paying match their bank records. It aims to give customers greater confidence that they’re paying the right person or business, reduce payment mistakes, and add another layer of protection from scams and fraud.
How does this affect you?
As a seller on Felt, if you offer bank deposit as a payment method, you need to ensure that your Felt payment preferences hold the correct account number and the exact name registered to your account. Remember that this may be different to your trading name. If you’re unsure about what name is registered to your account, check your internet banking or mobile app.
If your customer receives a No Match or Partial Match response when making a payment, they’ll be advised to double-check details with the payee (that’s you) before proceeding.
While this adds an extra layer of confidence in the payment process, it can also slow down the payment process, so to avoid delays and make it easy for your customer to pay you, make sure your account information is accurate from the outset.
Check your Felt payment preferences now »
Which banks offer Confirmation of Payee?
Banks participating in the Confirmation of Payee service are ANZ, ASB, Bank of China, BNZ, CCB, The Co-operative Bank, Heartland Bank, ICBC, Kiwibank, Rabobank, SBS Bank, TSB, and Westpac.
Each bank is implementing Confirmation of Payee in different stages over time. During the initial period, it may be available through some banks and not others. Once the Confirmation of Payee service is available through your bank, it will be automatically applied to your online banking.
Your bank does not require you to take any action or provide any information to make this service work. No banks will proactively call, email, or text you to ask you to provide your account information to them, or to immediately update information over the phone.
Be wary of scammers pretending to call from banks. Scammers may pose as bank employees, tricking victims into sharing bank information or changing account details. Your bank does not require you to take any action or provide any information to make the Confirmation of Payee service work. If you receive a call any bank asking for your login details or password, or to take action regarding Confirmation of Payee, hang up immediately. Learn more »
If you top up your Felt account by bank deposit…
Felt Limited (felt.co.nz) is now a registered biller, which means you can search for it when making a bank payment, and no longer have to enter the payee name or account number.
When you top up your Felt account by bank deposit, you will be need to enter your Felt username, Felt account number, and surname as the particulars, code, and reference. You can now find your Felt account number, along with all other bank top up details, on the top up your account page.
If you have details saved for bank payments to Felt, please update these next time you top up.
More information about Confirmation of Payee
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For information from your bank about Confirmation of Payee, go to their website or check your internet banking or mobile app.
