To improve our internal control process with respect to supplier payments, CheckUP has engaged Eftsure to provide payment verification services. Eftsure provides a service to ensure that payments are made to the intended recipients.
From November 2023 exisiting and new CheckUP suppliers and Outreach providers should expect to receive an email or phone call from Eftsure requesting them to verify their details with Eftsure. This will include business name, ABN and bank account details.
Eftsure is a leader in fraud detection and payment protection.
Their multi-factor verification platform that provides bank detail verification in real-time before processing electronic funds payments. This helps mitigate the risk of human error and prevents modern cyber fraud tactics.
Banking details are verified by Eftsure to ensure that only legitimate information is entered into our finance system.
If you wish to learn more about Eftsure software solution please click here.
The verification process
CheckUP has outsourced this risk management initiative to Eftsure. Specialist staff from Eftsure will conduct this process on behalf of CheckUP.
Eftsure’s two-step verification process ensures you can be paid easily and securely. Firstly, you’ll be prompted to complete an online form. From here, you have two options for the second step of the verification process:
- Bank link. This allows you to select your relevant bank account details from your bank without you needing to enter in the bank account details manually. You’ll be asked to log into your bank, which provides us with an instant verification of your bank account details as they are cross-matched against formal records from the Australian Business Register (ABR). The direct bank link option uses Illion, who are a recognised Australian credit bureau, therefore – your credentials are not seen or stored by anyone at Eftsure, Illion, or your customer’s organisation. (If the account name does not match your registered business name, you may still receive a phone call for security purposes).
- Phone call. One of Eftsure’s fraud verification analysts will contact you and undertake an initial screening validation process related to information on the submitted online form for legitimacy and security. The fraud verification analysts will then complete a two way, interactive account number verification process in order to verify the account number, as well as the BSB, account name and ABN.
Visit the Eftsure website for more information about verifying with Eftsure and answers to frequently asked questions.
If you have any enquiries or concerns, please do not hesitate to contact our team.