To approve the creation of a new recipient, an authorized approver must review the details in the system. Once a recipient has been created, it will sit in a "Needs Approval" state until these steps are completed.

Next Steps

To approve a recipient, follow these steps:

1. Log into your OFX account.

2. Navigate to the Recipients page.

   

3. Select the "Needs Approval" tab to see a list of all pending recipients.

   

4. Identify the Recipient: Locate the recipient you wish to review and click on their name to open the Recipient Summary page.

   

5. Review the Details: Carefully check the bank details (e.g., Account Number, IBAN, SWIFT) against your official records or the supplier’s invoice to ensure accuracy and prevent fraud.

   

6. Take Action:

   • Approve: If the details are correct, click the Approve button. The recipient status will change to "Active," and they can now be used for payments.

   • Decline: If the details are incorrect or suspicious, click Decline. This will prevent the recipient from being used and move the record to the "Rejected" status.

     

Why is this important?
Reviewing and approving recipients at the source is the most efficient way to manage risk. It ensures that only verified and legitimate bank details are available in your platform, which streamlines the payment process later on and maintains a high level of security for your business funds.

Related FAQ Articles

• How do I set up a recipient approval policy?

• What is recipient approval and how does it work?

• How do I create a policy for a recipient?

• How does a user view a policy?