Buyer Cannot Pay Into My Account

Hello Andrew. That is just a warning that comes up. It is not a restriction at all. 

Many banks recently added this warning. In response to current scams where people have a fake legitimate sounding name, that has nothing to do with the actual bank account the money is going into.

In New Zealand there are NO CHECKS DONE on names to account numbers. Hence the warning your buyer is seeing.

The buyer can put anything they want in the name field. "Mickey Mouse"  will work and the payment will still go through...............

Here is the kiwibank version of what they are seeing. As I mentioned, it's not a restriction. It's just the bank covering their bottom by saying they don't check account numbers against names. They never have. Which surprises some people.

Hi Andrew, it is likely that the buyer has a Kiwibank account, as this has recently started showing this message:

"Please double-check that your money is going to the right place!

Account numbers are not matched, verified or checked against payee names."

(I have a Kiwibank account, and those are the words that come up each time I go to make a payment.)

This is just Kiwibank's way of reminding customers to check that they are paying into the right account.

So, it is likely that the buyer has misunderstood this general-warning (just really meaning them to be careful and check that they are entering the right numbers), and so the buyer thought that there was a problem with your account, when there wasn't.

If the buyer had proceeded with paying you, then the payment would have gone through okay.

They probably freaked-out, and were put-off from proceeding, when they saw Kiwibank's message (as above).

(Unless the buyer made a mistake when entering your bank account details.)

Also, with Kiwibank, there are 3 ways of paying, under the Pay & Transfer section: 

Pay someone, pay a bill, and transfer.

Maybe the buyer has gone to Pay a bill, rather than Pay someone.

The Pay someone is the option used to pay for a Trade Me item.

If the buyer has gone to the wrong payment-method of Pay a bill, it would come up with the words  search for a biller, so, when they mention about "search registered biller," that would mean that they have gone to the Pay a bill option, instead of the Pay someone option that they should have used.        The Pay a bill option is only for bills such as power, phone, Sharesies, etc, but not for paying for a Trade Me purchase! They should go to the Pay someone option, not the Pay a bill option.

Sometimes (eg. between BNZ & Kiwibank) there is 1 extra of the 3 end numbers that needs to be removed, before the payment can proceed. (I have a BNZ account, as well as a Kiwibank account, so that is why I know about the problem with the last 3 digits sometimes.)

I hope this information is of help to you.

Hi Callum, I wasn't copying your comment, as I was taking a while to carefully explain about Kiwibank in detail, so, in the meantime, your comment came through before I posted my one!

Kia Ora Andrew,

This is Consumer NZ update on the Banking verification Name vs Acct. 2024

<quote>  The NZBA responded in April, saying that it had selected a technical partner for the service and that banks are “on track to start rolling this out by the end of the year”. <unquote>

The simple banking process that could stamp out scams - Consumer NZ

You can check with your Buyer who their Bank is if unknown and you can confirm with their bank yourself the message coming up - Cheers.

Occasionally I get similar from Buyers,

my suggestion is to ask if they are trying to pay via an app?, and ask them to try paying from an actual Website,

Usually it is the apps causing the problems, as they always come back saying that worked,

Many years ago it was known there was an issue with the ASB apps, So had on my auctions, ASB App users please use the ASB Website,

Hi team, thanks everyone for your input and suggestions. I have sent these through to the buyer and hopefully they are willing to try them.

I appreciate the advice given

Just an update. I've just heard back from the buyer saying they "can not process the payment -- even if I want to do that ---- because the bank doesn't give me any other option - until I put the correct name to the connected correct numbers.
AS I can not do anything about this--- you can relist the items."

I actually sent them a snip from back actual bank statement showing my name and account number which is exactly what i sent to them. I also gave them the link to this post.

They have not said whether the tried any of the suggestions so i assume they didn't including contacting their bank

Cheers for the update Andrew,

Sorry to read your Buyer has pulled out of the sales - I suspected this may have been the case hence suggesting following through with their Bank yourself to confirm the message and process which then can't be denied. - I always find it quicker and easier to find out the details for myself so I know what/who I'm dealing with - All the Best with your Relists - Cheers.

flossy63,

Thanks for the Heads up with the Apps being affected - the initial Testing of this new incoming payment check of names matching Bank account numbers was initially trialed by ASB, Westpac and BNZ as well as third-party firms Trade Me, Datacom and Paymark.

Testing involved how full the account name would have to be between matching an abbreviated first name with full surname Or Full name including middle names etc.

It sounds like some Real Time technology may be future forthcoming where TradeMe may eventually be able to email Buyers if they don't have enough funds in their Bank account to pay for their purchases and Sellers may be able to use their Email address or phone number in place of their Bank account number to give Buyers for payment into their accounts.

Looks like some Big changes maybe incoming and one to keep an ear on - Cheers.