Before approving a transaction in BE Custody, approvers should confirm that the transaction is expected, authorised, and consistent with the organisation’s internal process.
Approval is a control point. It should not be treated as a formality. Once a blockchain transaction is confirmed, it is generally irreversible.
What should I review before approving?
Before approving a transaction, check:
- The transaction is expected
- The transaction was created by an authorised user or process
- The wallet or sub-wallet is correct
- The asset is correct
- The network is correct
- The destination address is correct
- The amount is correct
- The transaction fee is understood
- The transaction matches the intended instruction
- Any required internal approval, ticket, or supporting record is in place
- The request does not appear unusual, rushed, or inconsistent with normal activity
Do not approve a transaction if any detail is unclear, unexpected, or inconsistent.
Asset, token, and network checks
Some assets and tokens may exist on more than one network. Approvers should check that the selected asset, token, and network match the intended instruction.
For token transfers, do not rely on the token symbol alone. Where relevant, check the token contract, supported network, and destination compatibility.
Support for an asset on one network does not necessarily mean that all network versions are supported.
Destination address checks
Approvers should review the destination address carefully, especially for external withdrawals.
Check:
- The full destination address
- The address book entry, if one is being used
- The intended recipient
- The selected network
- Any internal verification record required by the organisation
Do not rely only on an address label. The underlying address and network should still be reviewed.
Amount and fee checks
Check that the amount is correct and that any network fee is understood.
Network fees may vary depending on the asset, network conditions, transaction type, and blockchain-specific fee mechanics. Fees charged by the network are generally not reversible by Bitpanda Enterprise Custody.
Governance and quorum checks
Where a transaction is subject to quorum approval, each approver should perform their own review.
Do not approve a transaction simply because another authorised user has already approved it. Multi-user approval is intended to provide independent review and reduce operational risk.
Warning signs
Do not approve the transaction if:
- The transaction was not expected
- The request appears urgent without clear justification
- The destination address is unfamiliar
- The asset, network, or amount does not match the instruction
- The transaction is inconsistent with normal activity
- The requester cannot explain the purpose of the transaction
- You are asked to bypass the normal approval process
- You suspect unauthorised activity
Follow your organisation’s escalation process before taking any further action.
What should I do if I am unsure?
If you are unsure whether a transaction should be approved, do not approve it.
Check internally first. If further support is needed, contact Bitpanda Enterprise Custody Support through the approved support channel.
Do not include passwords, PINs, private keys, seed phrases, API keys, API secrets, or other sensitive authentication information in a support request.