diff --git a/src/components/SettlementButton/index.tsx b/src/components/SettlementButton/index.tsx
index 53b09bfcbf31..c2b2d462aa41 100644
--- a/src/components/SettlementButton/index.tsx
+++ b/src/components/SettlementButton/index.tsx
@@ -8,6 +8,7 @@ import KYCWall from '@components/KYCWall';
 import useLocalize from '@hooks/useLocalize';
 import useNetwork from '@hooks/useNetwork';
 import Navigation from '@libs/Navigation/Navigation';
+import getPolicyEmployeeAccountIDs from '@libs/PolicyEmployeeListUtils';
 import * as ReportUtils from '@libs/ReportUtils';
 import playSound, {SOUNDS} from '@libs/Sound';
 import * as SubscriptionUtils from '@libs/SubscriptionUtils';
@@ -66,7 +67,11 @@ function SettlementButton({
     // The app would crash due to subscribing to the entire report collection if chatReportID is an empty string. So we should have a fallback ID here.
     const [chatReport] = useOnyx(`${ONYXKEYS.COLLECTION.REPORT}${chatReportID || -1}`);
     const [isUserValidated] = useOnyx(ONYXKEYS.USER, {selector: (user) => !!user?.validated});
-    const [lastPaymentMethod = '-1', lastPaymentMethodResult] = useOnyx(ONYXKEYS.NVP_LAST_PAYMENT_METHOD, {selector: (paymentMethod) => paymentMethod?.[policyID]});
+    const policyEmployeeAccountIDs = policyID ? getPolicyEmployeeAccountIDs(policyID) : [];
+    const reportBelongsToWorkspace = policyID ? ReportUtils.doesReportBelongToWorkspace(chatReport, policyEmployeeAccountIDs, policyID) : false;
+    const policyIDKey = reportBelongsToWorkspace ? policyID : CONST.POLICY.ID_FAKE;
+    const [lastPaymentMethod = '-1', lastPaymentMethodResult] = useOnyx(ONYXKEYS.NVP_LAST_PAYMENT_METHOD, {selector: (paymentMethod) => paymentMethod?.[policyIDKey]});
+
     const isLoadingLastPaymentMethod = isLoadingOnyxValue(lastPaymentMethodResult);
     const [policy] = useOnyx(`${ONYXKEYS.COLLECTION.POLICY}${policyID}`);
     const isInvoiceReport = (!isEmptyObject(iouReport) && ReportUtils.isInvoiceReport(iouReport)) || false;
@@ -248,7 +253,7 @@ function SettlementButton({
                         if (policyID === '-1') {
                             return;
                         }
-                        savePreferredPaymentMethod(policyID, option.value);
+                        savePreferredPaymentMethod(policyIDKey, option.value);
                     }}
                     style={style}
                     wrapperStyle={wrapperStyle}