diff --git a/packages/desktop-client/src/components/modals/EditRuleModal.jsx b/packages/desktop-client/src/components/modals/EditRuleModal.jsx
index 0ddd6fd8deb..49d8938b8fc 100644
--- a/packages/desktop-client/src/components/modals/EditRuleModal.jsx
+++ b/packages/desktop-client/src/components/modals/EditRuleModal.jsx
@@ -347,6 +347,7 @@ function ScheduleDescription({ id }) {
 const actionFields = [
   'category',
   'payee',
+  'payee_name',
   'notes',
   'cleared',
   'account',
@@ -372,7 +373,12 @@ function ActionEditor({ action, editorStyle, onChange, onDelete, onAdd }) {
   const templated = options?.template !== undefined;
 
   // Even if the feature flag is disabled, we still want to be able to turn off templating
-  const isTemplatingEnabled = useFeatureFlag('actionTemplating') || templated;
+  const actionTemplating = useFeatureFlag('actionTemplating');
+  const isTemplatingEnabled = actionTemplating || templated;
+
+  const fields = (
+    options?.splitIndex ? splitActionFields : actionFields
+  ).filter(([s]) => actionTemplating || !s.includes('_name') || field === s);
 
   return (
     <Editor style={editorStyle} error={error}>
@@ -385,7 +391,7 @@ function ActionEditor({ action, editorStyle, onChange, onDelete, onAdd }) {
           />
 
           <FieldSelect
-            fields={options?.splitIndex ? splitActionFields : actionFields}
+            fields={fields}
             value={field}
             onChange={value => onChange('field', value)}
           />
diff --git a/packages/desktop-client/src/components/rules/Value.tsx b/packages/desktop-client/src/components/rules/Value.tsx
index 3d26c5a0b44..9e10fa10148 100644
--- a/packages/desktop-client/src/components/rules/Value.tsx
+++ b/packages/desktop-client/src/components/rules/Value.tsx
@@ -86,6 +86,7 @@ export function Value<T>({
           return value ? formatDate(parseISO(value), 'yyyy') : null;
         case 'notes':
         case 'imported_payee':
+        case 'payee_name':
           return value;
         case 'payee':
         case 'category':
diff --git a/packages/loot-core/src/server/accounts/rules.ts b/packages/loot-core/src/server/accounts/rules.ts
index f67aa04b88c..a4dc3db0af9 100644
--- a/packages/loot-core/src/server/accounts/rules.ts
+++ b/packages/loot-core/src/server/accounts/rules.ts
@@ -44,6 +44,10 @@ function registerHandlebarsHelpers() {
 
   const helpers = {
     regex: (value: unknown, regex: unknown, replace: unknown) => {
+      if (value == null) {
+        return null;
+      }
+
       if (typeof regex !== 'string' || typeof replace !== 'string') {
         return '';
       }
diff --git a/packages/loot-core/src/server/accounts/sync.ts b/packages/loot-core/src/server/accounts/sync.ts
index b453a5b88d4..a861b374075 100644
--- a/packages/loot-core/src/server/accounts/sync.ts
+++ b/packages/loot-core/src/server/accounts/sync.ts
@@ -460,7 +460,7 @@ export async function matchTransactions(
     subtransactions,
   } of normalized) {
     // Run the rules
-    const trans = runRules(originalTrans);
+    const trans = await runRules(originalTrans);
 
     let match = null;
     let fuzzyDataset = null;
@@ -605,7 +605,7 @@ export async function addTransactions(
 
   for (const { trans: originalTrans, subtransactions } of normalized) {
     // Run the rules
-    const trans = runRules(originalTrans);
+    const trans = await runRules(originalTrans);
 
     const finalTransaction = {
       id: uuidv4(),
diff --git a/packages/loot-core/src/server/accounts/transaction-rules.test.ts b/packages/loot-core/src/server/accounts/transaction-rules.test.ts
index 3ca6834d99d..4a043e0ef09 100644
--- a/packages/loot-core/src/server/accounts/transaction-rules.test.ts
+++ b/packages/loot-core/src/server/accounts/transaction-rules.test.ts
@@ -126,7 +126,7 @@ describe('Transaction rules', () => {
     spy.mockRestore();
 
     // Finally make sure the rule is actually in place and runs
-    const transaction = runRules({
+    const transaction = await runRules({
       date: '2019-05-10',
       notes: '',
       category: null,
@@ -149,7 +149,7 @@ describe('Transaction rules', () => {
     });
     expect(getRules().length).toBe(1);
 
-    let transaction = runRules({
+    let transaction = await runRules({
       imported_payee: 'Kroger',
       notes: '',
       category: null,
@@ -165,7 +165,7 @@ describe('Transaction rules', () => {
     });
     expect(getRules().length).toBe(1);
 
-    transaction = runRules({
+    transaction = await runRules({
       imported_payee: 'Kroger',
       notes: '',
       category: null,
@@ -179,7 +179,7 @@ describe('Transaction rules', () => {
       id,
       conditions: [{ op: 'is', field: 'imported_payee', value: 'ABC' }],
     });
-    transaction = runRules({
+    transaction = await runRules({
       imported_payee: 'ABC',
       notes: '',
       category: null,
@@ -201,7 +201,7 @@ describe('Transaction rules', () => {
     });
     expect(getRules().length).toBe(1);
 
-    let transaction = runRules({
+    let transaction = await runRules({
       payee: 'Kroger',
       notes: '',
       category: null,
@@ -211,7 +211,7 @@ describe('Transaction rules', () => {
 
     await deleteRule(id);
     expect(getRules().length).toBe(0);
-    transaction = runRules({
+    transaction = await runRules({
       payee: 'Kroger',
       notes: '',
       category: null,
@@ -242,14 +242,14 @@ describe('Transaction rules', () => {
     await loadRules();
     expect(getRules().length).toBe(2);
 
-    let transaction = runRules({
+    let transaction = await runRules({
       imported_payee: 'blah Lowes blah',
       payee: null,
       category: null,
     });
     expect(transaction.payee).toBe('lowes');
 
-    transaction = runRules({
+    transaction = await runRules({
       imported_payee: 'kroger',
       category: null,
     });
@@ -315,7 +315,7 @@ describe('Transaction rules', () => {
     expect(rule2.conditions[1].value).toBe('beer_id');
   });
 
-  test('runRules runs all the rules in each phase', async () => {
+  test('await runRules runs all the rules in each phase', async () => {
     await loadRules();
     await insertRule({
       stage: 'post',
@@ -354,7 +354,7 @@ describe('Transaction rules', () => {
     });
 
     expect(
-      runRules({
+      await runRules({
         imported_payee: '123 kroger',
         date: '2020-08-11',
         amount: 50,
diff --git a/packages/loot-core/src/server/accounts/transaction-rules.ts b/packages/loot-core/src/server/accounts/transaction-rules.ts
index 710f057b03a..2d8bc7c5428 100644
--- a/packages/loot-core/src/server/accounts/transaction-rules.ts
+++ b/packages/loot-core/src/server/accounts/transaction-rules.ts
@@ -16,6 +16,7 @@ import {
 } from '../../types/models';
 import { schemaConfig } from '../aql';
 import * as db from '../db';
+import { getPayee, getPayeeByName, insertPayee } from '../db';
 import { getMappings } from '../db/mappings';
 import { RuleError } from '../errors';
 import { requiredFields, toDateRepr } from '../models';
@@ -273,8 +274,8 @@ function onApplySync(oldValues, newValues) {
 }
 
 // Runner
-export function runRules(trans) {
-  let finalTrans = { ...trans };
+export async function runRules(trans) {
+  let finalTrans = await prepareTransactionForRules({ ...trans });
 
   const rules = rankRules(
     fastSetMerge(
@@ -287,7 +288,7 @@ export function runRules(trans) {
     finalTrans = rules[i].apply(finalTrans);
   }
 
-  return finalTrans;
+  return await finalizeTransactionForRules(finalTrans);
 }
 
 // This does the inverse: finds all the transactions matching a rule
@@ -539,11 +540,20 @@ export async function applyActions(
     return null;
   }
 
-  const updated = transactions.flatMap(trans => {
+  const transactionsForRules = await Promise.all(
+    transactions.map(prepareTransactionForRules),
+  );
+
+  const updated = transactionsForRules.flatMap(trans => {
     return ungroupTransaction(execActions(parsedActions, trans));
   });
 
-  return batchUpdateTransactions({ updated });
+  const finalized: TransactionEntity[] = [];
+  for (const trans of updated) {
+    finalized.push(await finalizeTransactionForRules(trans));
+  }
+
+  return batchUpdateTransactions({ updated: finalized });
 }
 
 export function getRulesForPayee(payeeId) {
@@ -759,3 +769,42 @@ export async function updateCategoryRules(transactions) {
     }
   });
 }
+
+export type TransactionForRules = TransactionEntity & {
+  payee_name?: string;
+};
+
+export async function prepareTransactionForRules(
+  trans: TransactionEntity,
+): Promise<TransactionForRules> {
+  const r: TransactionForRules = { ...trans };
+  if (trans.payee) {
+    const payee = await getPayee(trans.payee);
+    if (payee) {
+      r.payee_name = payee.name;
+    }
+  }
+
+  return r;
+}
+
+export async function finalizeTransactionForRules(
+  trans: TransactionEntity | TransactionForRules,
+): Promise<TransactionEntity> {
+  if ('payee_name' in trans) {
+    if (trans.payee_name) {
+      let payeeId = (await getPayeeByName(trans.payee_name))?.id;
+      payeeId ??= await insertPayee({
+        name: trans.payee_name,
+      });
+
+      trans.payee = payeeId;
+    } else {
+      trans.payee = null;
+    }
+
+    delete trans.payee_name;
+  }
+
+  return trans;
+}
diff --git a/packages/loot-core/src/shared/rules.ts b/packages/loot-core/src/shared/rules.ts
index fe4839b2229..e194266d4aa 100644
--- a/packages/loot-core/src/shared/rules.ts
+++ b/packages/loot-core/src/shared/rules.ts
@@ -61,6 +61,7 @@ const FIELD_INFO = {
     disallowedOps: new Set(['hasTags']),
   },
   payee: { type: 'id' },
+  payee_name: { type: 'string' },
   date: { type: 'date' },
   notes: { type: 'string' },
   amount: { type: 'number' },
@@ -112,6 +113,8 @@ export function mapField(field, opts?) {
   switch (field) {
     case 'imported_payee':
       return 'imported payee';
+    case 'payee_name':
+      return 'payee (name)';
     case 'amount':
       if (opts.inflow) {
         return 'amount (inflow)';
diff --git a/packages/loot-core/src/types/models/rule.d.ts b/packages/loot-core/src/types/models/rule.d.ts
index b3e2b6befd5..1bfc9c0a0cd 100644
--- a/packages/loot-core/src/types/models/rule.d.ts
+++ b/packages/loot-core/src/types/models/rule.d.ts
@@ -35,6 +35,7 @@ type FieldValueTypes = {
   date: string;
   notes: string;
   payee: string;
+  payee_name: string;
   imported_payee: string;
   saved: string;
   cleared: boolean;
diff --git a/upcoming-release-notes/3619.md b/upcoming-release-notes/3619.md
new file mode 100644
index 00000000000..5d69e3f600b
--- /dev/null
+++ b/upcoming-release-notes/3619.md
@@ -0,0 +1,6 @@
+---
+category: Enhancements
+authors: [UnderKoen]
+---
+
+Add action rule templating for `payee_name`