FAQs for Payees
Payees = Suppliers = Vendors
What is Ok2Pay?
Ok2Pay helps ensure payments from your customers are processed securely and reach your correct bank account. It protects against errors and fraud tactics like phishing, fake invoices, and social engineering.
Your participation strengthens the security of your business relationships and protects you from payment disruptions.
How Does the Verification Process Work?
Verification is simple and secure — completed in three steps:
1. Receive the Email:
You’ll receive an email with a secure link to start the process.
2. Provide Your Details:
Confirm the company, contact and bank details. You may be requested to provide some additional information.
3. Verify Your Bank Account (Choose a Method):
Express Method (Recommended):
- Securely connect to your bank via a secure platform powered by Illion (https://www.illion.com.au), Australasia’s leading consumer and commercial credit bureau. Illion is accredited by the Australian Competition & Consumer Commission (ACCC) to provide Consumer Data Rights (CDR) data.
- No credentials are stored — only your account details are verified.
- Instantly verifies your BSB, account number, and account name.
Basic Method:
- Upload two bank statements (PDFs only) from two different months in the last six months — sensitive data may be redacted,
- A verification expert will call you to confirm your details
Why Did I Receive an Email from Ok2Pay?
Your customer engaged Ok2Pay to validate their payee records — this is a routine process and not linked to a specific invoice or payment. If you wish to verify the request, contact your customer’s Accounts Payable team directly.
Why Is This Verification Necessary?
Banks do not check that bank account names match account numbers when processing payments. Fraudsters exploit this weakness to redirect payments.
Verification protects both your business and your customer, ensuring payments are made securely, timely and accurately.
Why Did I Receive a Phone Call from Ok2Pay?
Our team may call you as part of the verification process to confirm your information and ensure your email or systems haven’t been compromised. Calls are recorded for your protection and audit purposes.
Is There a Cost to Me?
No. Verification is free for you.
Is Ok2Pay Secure?
Yes. Ok2Pay follows strict security standards and undergoes regular independent security audits to protect your information.
What Happens to My Data and Bank Statements?
Once verified:
- Any uploaded documents are permanently deleted,
- Your data is stored securely in Australia under strict access controls.
What is Ok2Pay’s Privacy Policy?
You can review our privacy policy here:
Ok2Pay Privacy Policy