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Overview of Swedish Electronic Funds Transfer (EFT)

Oracle Financials for Sweden uses shared Scandinavian EFT windows. Use the Define System Format window to set up the payment format that is needed for Swedish payment format programs. Navigate to the Swedish Localization responsibility (Localizations > System Formats) to access the EFT System Formats window.

In the Supplier Site window, select View EFT Details from the Special menu to access the EFT Supplier Site window. Follow this step as well for the EFT Invoice window in the Invoices window.

Enter the format specific EFT information in a descriptive flexfield pop up window. This descriptive flexfield is context sensitive depending on your country code and the payment format that you choose. Your country code is defined as your VAT Member State in the Financials Options window. See Prerequisites for more information.

You must set up certain parameters for all Swedish payment formats. These formats are summarized below.

Bankgiro Inland

Use Bankgiro Inland for domestic payments in the functional currency. Bankgiro Inland handles giro payments through the Swedish Bankgiro central clearing house, as well as direct bank deposits to the payment recipient's account. Bankgiro Inland supports both immediate payments and payments on a specified date or due date.

See Bankgiro Inland for more information.

Bankgiro Utland UTLI

Use Bankgiro Utland UTLI for foreign payments in any valid foreign currency. These payments go through a central clearing house. Bankgiro Utland UTLI handles both immediate payments and payments on a specified date or due date.

See Bankgiro Utland UTLI for more information.

Bankgiro Utland SISU

Use Bankgiro Utland SISU for foreign payments in any valid foreign currency. These payments go through a central clearing house. Bankgiro Utland SISU handles both immediate payments and payments on a specified date or due date.

See Bankgiro Utland SISU for more information.

Postgiro Inland

Postgiro Inland has the same functionality as Bankgiro Inland, except that payments go through the Swedish Postal Giro clearing house.

See Postgiro Inland for more information.


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