At The Mutual Bank we are dedicated to safeguarding our Members from scams and fraud.
As part of this commitment, we are working to introduce the Scam-Safe Accord, a joint initiative by Customer Owned Banking (COBA) the Australian Banking Authority (ABA).
The Scam-Safe Accord aims to protect Australian consumers and small businesses through principles of disrupt, detect, and respond.
A key initiative of this is the Confirmation of Payee (COP) service which is a solution to verify payee details when making a payment or transferring money.
The Confirmation of Payee (CoP) service, an industry-wide initiative by Australian Payments Plus (AP+) adds a new layer of protection for our Members. It helps verify payee details when making a payment or transferring money, ensuring that you are sending the money to the right place.
You can learn more about this new service, including reading some Frequently Asked Questions here.
