PayeeGuard

Free template · checked 16 October 2026

Bank details change form and policy

Copy these into your own documents. They're written for small businesses; adapt them to your size. This is a template, not legal advice.

1. Bank details change form

Payee name: ____________________   Supplier / employee ID: __________

Name on the new bank account: ____________________

Bank name and country: ____________________

Account number / IBAN: ____________________   Routing / sort code / BSB / IFSC / SWIFT: __________

Date the change should apply from: __________

Submitted by (name, role, phone): ____________________

For office use: Call-back number (from records dated before this request): __________ · Called by: ______ · Date/time: ______ · Spoke to: ______ · Account read back by payee and matched: Yes / No · Approved by (not the caller): ______ · Date: ______

2. Bank details change policy

Purpose. To prevent payments being redirected to fraudsters.

Scope. Any change to the bank details of a supplier, contractor, customer refund or employee.

Rules.

  1. We never change bank details on the strength of an email, letter, text or phone call alone, whoever it appears to come from.
  2. New details are collected through our secure form, not by email reply.
  3. Every change is confirmed by phone on a number we held before the request. We never use contact details given in the request.
  4. The payee reads the new details to us; we do not read them out.
  5. A second person, who did not make the call, approves the change.
  6. No payment is made to new details for 24 hours after approval, unless the owner approves an exception in writing.
  7. We record who called, the number, the time, who was spoken to, and who approved.
  8. Requests that are urgent, discourage a call, or change the phone number at the same time are escalated to the owner.
  9. Before each payment run, the payment file is checked against verified details.

If fraud is suspected. Do not pay. Tell the owner. Tell the real payee using known contact details. Report to the police / fraud agency.

Run it automatically

PayeeGuard is this policy as software: the form is a secure link, the call-back and approval are enforced, and the record is kept for you.

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