I am having trouble making bank account verification payment

The verification payment is a requirement in order for us to verify that we are paying funds out to (or collecting money from) a bank account that you own.

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To do this, we ask that you transfer a minimum payment of $0.01 cent from your bank account added in Cubbi. You can see details of where to send this payment by clicking the 'verify' link besides the bank account that you want to verify.

IMPORTANT: Do not send the penny amount ($0.01) from a different bank account than the bank account you are verifying in Cubbi. The bank account you send the penny amount from must have exactly the same BSB and Account Number otherwise the verification will fail.

How to send the payment

1

Login to your online banking (outside of Cubbi)

Via your online banking, choose the NPP payment option (some banks (e.g. Commonwealth) may refer to this as 'Email' or PayID).  


2

Enter your unique payment reference details

  1. Login to your Cubbi Dashboard here.
  2. Navigate to 'Bank Accounts' page on your Dashboard or click here.
  3. Click on green 'Verify' link beside the account you want to verify and you'll then see your PayID and unique Reference Number.
  4. Copy and paste the PayID (email) and unique Reference Number to your online banking. 
  5. In any additional fields (commonly it says 'Description') be sure to re-enter the Reference Number ONLY. Please do not use other words like "verification" in this field (we know this is tempting!).
  6. Enter $0.01 as the amount. Please note: you can pay $1.00 or less however it is non refundable.
Example instructions provided by Cubbi.

Don't get the Reference Number wrong! It's best to copy & paste this from your Cubbi Dashboard. The PayID is unique to Cubbi and the same for everyone, whereas your Reference Number is unique to you and it's how we know the payment is from you and not someone else.


3

Click Pay

That's it! Your payment is complete and will be received by Cubbi within 60 seconds.

If successful Cubbi will automatically verify your bank account so payments going in or out will complete.

Please note: Some banks for security reasons may hold the first time payments to new payees for 24 hours before they are received. For this reason, If you find your bank account is not verified after 1-2 minutes, please wait until the next day before you check again.



Common reasons verification might fail


You sent the payment from a different bank account

The BSB and Account number of the bank account that you are sending the penny amount from must exactly match the BSB and Account number of the bank account you entered into Cubbi. If it's wrong, the payment you sent us will fail and won't be returned unless requested.


You sent more than $1.00

You must make a payment of $1.00 or less otherwise we won't be able to match your payment as a verification payment and therefore will be held in your digital wallet until paid back out to your account. You may need to request support for the refund.


Payment returned - the reference number is wrong

If you make a payment and the amount is returned to you, this means we were unable to reconcile the payment received. If this happens it's most likely because the reference number or description on the payment is incorrect and does the exactly match the reference number provided by Cubbi. We then suggest sending a new payment and double check you have entered the correct Reference and Description and ensure no phases (like 'Cubbi' or 'verification') are provided.


Have further questions or need help send us a message and we'll get it sorted for you.



*New Bank Verification Process from 23 January 2024.