As part of an upcoming system update, some changes are coming to online banking, cards and payments.
These changes are designed to help make banking with us safer and more seamless. The three biggest changes are covered below.
1. Confirmation of Payee
What's happening?
We're introducing 'Confirmation of Payee' to online banking. Confirmation of Payee checks that the owner's account name aligns with the account number of the individual or business you're paying.
What is Confirmation of Payee?
Confirmation of Payee is a security feature that checks whether the account name entered matches the account name of the person or business you’re paying.
This helps reduce the risk of scams and gives you more confidence that your payment is being sent to the right person.
Confirmation of Payee will be prompted when you are:
✅ Making a one-off payment
✅ Saving a new payee
✅ Editing an existing payee
What to expect
When making a payment, we’ll check if the account name and account number match, and you'll be notified whether it's an exact match, partial match or no match at all.
Find out more:
2. Virtual Debit Card
What's happening?
You’ll be able to make online payments using a PCU virtual card - no need for your physical card. The virtual card also produces a dynamic CVV to reduce card fraud.
What is a virtual card?
A virtual card is a digital form of your debit card.
When making an online purchase, you can use your virtual card to produce a dynamic CVV to reduce card fraud.
The card is only viewable in your PCU mobile banking app, which only you have access to, providing a safer way to make purchases.
Find out more:
3. Online card payment verification
What's happening?
When you use your PCU debit card to buy goods or make payments online, you may need to confirm you're the one making the payment by verifying yourself in our mobile banking app.
What's different?
When you make payments online using your PCU debit card, you may be required to verify yourself with a one-time code sent to your mobile number.
Soon, you may be prompted to confirm some purchases through our PCU mobile banking app instead.
Find out more:
Interested in a PCU Debit Mastercard?
With a Police Credit Union Debit Mastercard, you can easily access your money instore, online, and worldwide!