For vendors
MoneyID is in development. This page describes how vendor participation is planned to work.
Why a customer might ask you
A customer may ask you to confirm bank details as part of its payment checks, for example:
- when setting you up as a vendor
- after receiving a request to change your bank details
- before a large or unusual payment
- when something doesn’t match
A customer using MoneyID would check the bank details it holds for you against the details you confirmed for that customer.
What you would do
MoneyID is intended to let you enroll once and reuse that enrollment, while confirming your details separately for each customer you choose.
Your evidence may need updating over time.
What stays separate for each customer
- You choose which customers you confirm your details for.
- Confirming your details for one customer doesn’t let another customer rely on them.
- Your customer would submit details it already holds. The comparison would not disclose your stored bank details.
What the check doesn’t mean
- A match doesn’t approve a payment, confirm who sent a request, or guarantee a payment is safe.
- Customers may still ask for their own checks.
- For questions about invoices, payment timing or vendor setup, contact the customer that pays you.
What you can do today
Public enrollment isn’t available yet. To talk with us about how bank detail changes work for your business, email us.
Please don’t email bank details, payment instructions or passwords.