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Five checks before you pay a new overseas supplier
Most payment fraud starts with a new supplier or changed bank details. A short checklist for finance teams paying across borders.
Ada Okoro
·
Head of customer support
·
6 min read
Paying a supplier for the first time is when mistakes and fraud are most likely. These five checks take minutes and can save a lot more than the payment.
1. Confirm the account name
Montra checks the account name with the recipient’s bank before a payment leaves. If the name doesn’t match the invoice, stop and call the supplier on a number you already have.
2. Be wary of changed bank details
An email saying a supplier has changed banks is the most common fraud pattern. Verify any change by phone before you update a saved recipient.
3. Use approval rules
Require a second approver for any new recipient. A second pair of eyes catches most mistakes.
4. Start with a small payment
For large orders, send a small first payment and confirm it arrived before sending the rest.
5. Keep proof of payment
Share the Montra proof-of-payment link with the supplier. It includes the bank reference, so there’s no argument about whether the money was sent.
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