Set Up a Customer Bank Account

If you want to receive payments from your customers by EFT from their bank accounts, you can set up customer bank accounts.

To set up a customer bank account, perform the following steps:

• Find your existing customer.

• Create a customer bank account.

• Provide additional customer bank account information.

• Optionally, add joint bank account owners.

• Optionally, specify intermediary accounts

Finding Your Existing Customer

Navigator > Receivables > Billing link > Overview page > Tasks pane > Customers section > Manage Customers link > Manage Customers page.

1. In the Search section, enter your customer's name in the Organization Name field or your customer's account number in the Account Number field and click Search. Your customer's details appear in the Search Results section.

2. In the Search Results section, select the row that shows your customer's organization name.

Creating a Customer Bank Account

Determine whether you want to create a customer bank account at the customer level or at the customer site level.

To create a customer bank account, perform the following steps:

1. To create a customer bank account at the:

   • Customer level, go to step 2.

   • Customer site level, go to step 3.

2. Click the customer Account Number link in the Account Number column in the Customer Name: Accounts section.

   The Edit Account: Customer Name page appears. Go to Step 4 and continue.

3. Click the applicable Site Number link in the Site Number column in the Customer Name: Sites section.

   The Edit Site: Customer Name page appears.

4. Select the Payment Details tab.

5. Select the Bank Accounts subtab.

6. Click Create.

   The Create Bank Account page appears.

7. From the Country choice list, select the country in which the customer bank account resides. Validation of the bank account is based on the country for which you create the bank account.

   If the country of the customer bank account and the country of the bank account's branch through which the payment is made is the same, then the payment is considered a domestic payment.

   If the country of the customer bank account and the country of the bank account's branch through which the payment is made is not the same, then the payment is considered an international payment.

8. In the Account Number field, enter the bank account number.

9. From the Bank Name choice list, select the bank at which the customer bank account resides.

10. From the Branch choice list, select the branch where the bank account resides.

    You can create a customer bank account for receiving domestic payments by check without specifying a bank or branch. To receive electronic international payments, however, you must specify both a bank and a branch.

11. To receive international payments from a customer bank account, select Allow international payments.

    Tip: Allow international payments can be selected only when you provide the name of the bank and the branch.

12. Enter the IBAN (International Bank Account Number) in the IBAN field if you are setting up a customer bank account in a European country.

    Note: Validation of the IBAN is based on the country for which the customer bank account is set up.

13. From the Currency choice list, select the currency in which payments are received.

    If you select a currency, then the customer bank account is used to pay invoices in that currency only. If you don't select a currency, then the customer bank account is considered multicurrency and is used to pay invoices in any currency.

Providing Additional Customer Bank Account Information

To enter additional information regarding the customer bank account you are creating, perform the following steps on the Create Bank Account page in the Additional Information section.

1. In the Account Suffix field, enter the value that appears at the end of the bank account number, if applicable.

   Note: An account suffix is required in some countries.

2. From the Conversion Rate Agreement Type choice list, select the type of conversion rate agreement you have with the customer.

3. In the Conversion Rate field, enter the conversion rate for which one currency can be exchanged for another.

4. In the Conversion Rate Agreement Number field, enter the number of the conversion rate agreement with the customer that specifies the currency in which payments are made.

5. In the Check Digits field, enter one or multiple digits.

   Note: Only a few countries require check digits.

6. In the Secondary Account Reference field, you can optionally enter additional account information.

7. In the Agency Location Code field, enter the eight-digit value that identifies a Federal agency as the customer.

Optionally, Adding Joint Bank Account Owners

To optionally add other customers to the customer bank account as joint bank account owners, perform the following steps on the Create Bank Account page in the Account Owners section.

1. In the Account Owner field, select a joint bank account owner from the list.

2. In the From Date field, select a starting date for the joint bank account owner.

   If the customer wants to share the bank account with another party, then there are multiple owners of the bank account. For multiple bank account ownership, you must specify one owner as the primary owner. The primary owner is the customer for whom you are creating the bank account.

   A joint bank account scenario, for example, might be where two business units of the same company are conducting business in a foreign country and they want to use a common bank account for receiving and making payments.

3. To specify the primary bank account owner among multiple owners, click the green check mark and then click the Primary field in the applicable account owner row.

   The check mark appears in the row you selected.

4. To add a row from which to select another joint bank account owner, click the green plus.

Optionally, Specifying Intermediary Accounts

You can specify intermediary bank accounts for this customer on the Create Bank Account page in the Intermediary Accounts section. Intermediary bank accounts are used if there are restrictions on the transfer of funds between two countries. You can specify an intermediary bank account to assist in the transfer of funds between the originator's bank and the beneficiary's bank.