Workflow: justification for adding a confirmation page in the user flow of the transaction website

I have implemented a web form for users to request a transfer or withdrawal of funds deposited with our service. Our financial person, who handles most of the customer assistance related to finances, asks me to add a confirmation step; After sending the form, go to a page that shows all your options and requires that you send it to confirm.

I know that this is a common practice on many websites; For example, my city's website for paying special taxes and parking fines has one of these confirmation pages. But I wonder if studies have been done to determine how effective they are in detecting and preventing shipping errors. I suspect that most people just look at the page and automatically click on the submit button, so they find that it's just a nuisance.

My application is not really subject to the metaphor of "shopping cart" and "payment and shipping", it is only a one-time transaction. We are discontinuing a service that uses these deposited funds, so users need to move those funds, and the form asks them where they should be moved.

More specifically, the user has the following options:

  • Move some of the funds to another type of account.
  • Withdraw the remaining funds; in this case, they have the option to send to a PayPal account or receive a paper check by mail.

Therefore, the purpose of the confirmation step would be to ensure that they entered the move / withdraw division correctly and that they specified the correct destination for the withdrawals. We provide predetermined values ​​for the destination information if we have it in our records, but we do not have this information for all the clients (or if we have it, it is not necessarily verified as correct).

The question is: when is it appropriate to add a confirmation step in the flow of users where there was no longer one? Are there investigations or case studies that show when it is effective and when it is unnecessary?