For accounts payable and treasury teams
Are those really your vendor’s bank details?
MoneyID compares the bank details you received with details your vendor confirmed for your organization—and keeps a record of the comparison.
A match does not approve a payment.
Example · Sample data
Your vendor’s details. A clearer check. Your team’s decision.
Works alongside your payment controlsA vendor’s confirmation applies only to the organization it was given for. It doesn’t carry over to anyone else.
How it worksA bank-details change request arrives as an email, a phone call, a PDF invoice or a portal update.
A familiar email address or portal login doesn’t show who confirmed the change. MoneyID’s proposed workflow lets your team check the new bank details against the details your vendor confirmed for your organization, while that confirmation is in effect.
Receive the request, verify it through a known contact, and document the result.
Check the bank details your team received against the details your vendor confirmed for your organization, while that confirmation is in effect.
Your team reviews the check and follows its organization’s required controls.
An earlier check may not reflect the bank details or vendor confirmation in place now.
Check again when you need to. A new check reflects the bank details and your vendor’s confirmation as they are at that time.
An earlier match doesn’t establish that the details and confirmation are still current.
Bank details can remain unchanged even when your vendor no longer confirms them for your organization.
After withdrawal takes effect, a completed check would show that the vendor’s confirmation is no longer in effect for your organization.
An earlier match doesn’t establish current confirmation. Vendor confirmation for other organizations stays separate.
Start with the bank details your team received.
Your team supplies the details it already holds; the comparison doesn’t disclose the vendor’s stored values.
Northstar Studio → Meridian Works
New bank details received
Stored bank details stay private
Check the bank details you already hold against what your vendor confirmed for your organization. The payment decision stays with your team.
Provide evidence for your bank details and choose which organizations you confirm them for.
Talk with us about checking vendor bank details supported by evidence and confirmed for your organization.
Talk with us