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Banks rolling out new confirmation of payee service to prevent scams

Author
Newstalk ZB,
Publish Date
Fri, 29 Nov 2024, 6:29pm
Photo / NZ Herald
Photo / NZ Herald

Banks rolling out new confirmation of payee service to prevent scams

Author
Newstalk ZB,
Publish Date
Fri, 29 Nov 2024, 6:29pm

A new 'confirmation of payee' service is being rolled out by the banks.

Now when making a bank transfer to someone new, when entering in the name and account number, users will now get a warning if the two don’t match.

The idea is to make it easier to spot being scammed.

GetVerified chief executive Duncan Robertson joined Heather du Plessis-Allan.

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