Confirmation of Payee is coming – we've updated our Terms and Conditions

We’ve updated our Terms and Conditions for Savings Accounts and Payment Services. These changes coincide with the new Confirmation of Payee service available to Qudos Bank customers from 27 April 2026.  

We encourage you to review the new Terms and Conditions for Savings Accounts and Payment Services available on our website at http://www.qudosbank.com.au/support/legal to understand how these changes may affect you. Below is a summary of the changes for your convenience.

‍Summary of Changes to Terms and Conditions – Section 27 (Confirmation of Payee)

• Confirmation of Payee Service: From 27 April 2026, the Confirmation of Payee service will be available to Qudos Bank customers. The Confirmation of Payee service matches the account details entered (which must also include an account name) with the account details held by the recipient’s financial institution and displays the outcome, which could be a match, a close match, a no match or an error. If the intended recipient is a business or other non-individual, or the outcome is a match or close match, then the account name will be displayed to the payer.

• Conducting a Confirmation of Payee Lookup: When making a payment from your account using BSB and account number it is the user’s responsibility to ensure the account name, BSB and account number provided by the user are correct. You must not use, and must ensure any other user does not use, the Confirmation of Payee service other than for its intended purpose, or in breach of these Terms and Conditions.  

Please contact us if you have any questions or require further information.