Match
The payee name and number match.
What is Confirmation of Payee?
Together with the New Zealand banking industry, ASB is launching a Confirmation of Payee service that helps you take a sec to check whether the account owner name and number match when making a payment.
This way, you'll have greater confidence that you're paying the right person - it's another tool to help us all stay one step ahead of scammers.
Check out the video to find out more.
You can learn more about the change at getverified.co.nz
How it works
From late November 2024, when making a payment to a new payee within New Zealand using the ASB Mobile Banking app or FastNet Classic internet banking, you'll see the Confirmation of Payee check. You'll be shown a response, but it's up to you whether you choose to go ahead with the payment.
Partial match
Not quite an exact match. You might have used a preferred name instead of a full name, or have a spelling mistake.
Not a match
You may have a few spelling mistakes, entered the wrong account number, or the name doesn't match the account. Check the details, or stop the payment.
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If you receive a 'Partial match' or 'Not a match' response, check you've entered the details correctly or contact who you are paying to confirm you have the correct details. If you choose to proceed, take a sec to check who you're paying and why.
Read all the possible responses and what they mean.
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Response
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Description
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Match
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Payee name and number match.
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Partial match
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Not quite an exact match. You might have used a preferred name instead of a full name, or have a spelling mistake.
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Not a match
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You may have a few spelling mistakes, entered the wrong account number, or the name doesn't match the account. Check the details, or stop the payment.
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Can't check payee details right now
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Technical issues can sometimes mean we can't check account details. If you get this result, try again later or make the payment at your own risk.
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Can't check payee details
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Some banks may not be participating in these checks. If this happens, you need to ensure you're happy to make the payment.
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Account does not exist
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Our checks may not be able to find the account number entered. If this happens, you can still try to make the payment.
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Account type can't be checked
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There are some account types that we can't check. If this happens, you need to ensure you're happy to make the payment.
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What this means for you
When making a payment to someone new, you'll need to enter the name of the account owner, along with their bank account number. If someone is sending money to you, you'll need to share your details too.
For individuals, this is the full first and last name (e.g. Jonathan Smith) the account is registered to. You won’t need to include any middle names.
For businesses, this is the full business account name (e.g. Bakehouse Ltd t/a Anne's Bakery).
Check our FAQs to learn how to find and share your account details, including for individual, joint and business accounts.
What this means for businesses
Getting paid
To ensure there is no delay in receiving payments from your customers, make sure they have your business account name and number. You can find this on your ASB statements.
Check our FAQs to learn how to find and share your account details on FastNet Business and FastNet Classic.
Important: We recommend including your business account name and number on your invoices and documents where you're requesting payment. Make sure you check and update your payments details on any websites or digital platforms (like Xero, MYOB and HNRY).
Making payments
If you use FastNet Business internet banking or ASB Mobile Business to make payments, the check won't be available just yet. We're working with the industry to make this happen, so we will be in touch when it's ready. In the meantime, take a sec to check the account details you're paying to.
Frequently asked questions
1. I have a joint personal bank account, which name should I provide?
You can share either name the joint account is registered to. You’ll be able to find and share your correct details on FastNet Classic and the ASB Mobile app from late November.
For more information on how to find and share your details, see FAQ 2.
2. How do I find and share my account owner name in FastNet Classic or the ASB Mobile Banking app?
From late November 2024, you can access your details using the find and share function. Make sure you have the latest version of the ASB Mobile app downloaded so you can use it.
a. Log in to FastNet Classic or the ASB Mobile app.
b. Select the account you want to receive money into.
c. Select the share button located near the account number.
d. The account name that appears might be different to the name that shows on your account page. The share or copy details are the correct ones for your account to share.
3. How do I find my business account name in FastNet Business?
If you are an administrator, you can find your account name by following these steps. If you are not an administrator, refer to an ASB statement.
a. Log in to FastNet Business.
b. Click the Administration tab.
c. Select User Profiles on the left side of the screen.
d. Click on any User profile's User ID.
e. Select the Accounts tab.
f. The account name will appear in capital letters above the account number on the left-hand side.
4. How do I change my account owner name?
Changing your name in the ASB Mobile app:
- Log in to the ASB Mobile app
- Select the Settings cog in the top right of the screen
- Select Profile
- Select Legal Name and review the legal name on record
- If you need to change your legal name on record, select Request to change your legal name and complete the form.
Changing your name in FastNet Classic:
- Log in to FastNet Classic
- Once you have logged in, select your Profile on the top right hand corner
- From the drop-down menu, select Personal Profile
- Select Legal Name and review the legal name on record
- If you need to change your legal name on record, select Request to change your legal name and complete the form.
5. Will a check be done on my existing payees?
The check will only apply when you set up a new payee or make a payment to an unknown or new payee. Payees that you already have saved will not have their details checked, unless you choose to delete the payee and set them up again.
6. My friend or family member is able to see the check responses, but I can't. What's going on?
The check will be rolled out over time, so some customers may see the check in the ASB Mobile App and FastNet Classic as early as late November 2024. If you can't see the check yet, don't worry. You will be able to by early 2025.
7. Will the check work for international payments?
The check will only work for payments from New Zealand bank accounts to New Zealand bank accounts. If you are going ahead with an international payment, pause and consider whether you know and trust the payee. If you're not sure, you can speak to the person directly, or if it is a business, contact them directly on the phone number listed on their official website. To check which banks are participating check out the GetVerified website.
8. What if I ignore the response and the payment turns out to be a scam?
1. If you are speaking to someone you think may be defrauding/scamming you, stop all contact immediately.
2. Do not make any more payments.
3. Call us immediately on 0800 ASB FRAUD (0800 272 372), we're available 24/7. The sooner we know about it the greater the chance we have to get your money back.
9. Why does the result say you can't check with all banks?
Banks are rolling out this check over time, so some accounts may not be able to be checked, but will soon. Some banks have chosen not to participate in these checks for New Zealand payments.
More ways to stay safe
Our 24/7 fraud helpline.
Have you spotted suspicious or unfamiliar activity on your account? Our specially trained team are available 24/7.
Get educated on scams.
Check out the latest information on common and emerging scams so you can stay one step ahead of scammers.
