1. Order Management
  2. Payment Processing
  3. Payment Processing Options
  4. Electronic Bank Payments
  5. Setting Up Payment File Formats
  6. Global Payment Formats
  7. Barclays MT103 Payment Format
  8. Setting Up Bank Records of Vendors for Barclays MT103 Payments

Setting Up Bank Records of Vendors for Barclays MT103 Payments

Set up the bank account records of each vendor to whom you will send electronic bank payments. You can set up multiple bank accounts for each vendor.

To set up vendor bank details for Barclays MT103 payments:

  1. Go to Lists > Relationships > Vendors.

    For information on adding a vendor, see Creating a Vendor Record.

  2. Click the Edit link next to the name of the vendor.

  3. On the Bank Payment Details subtab, check the EFT Bill Payment box, and click Save.

  4. Click New Entity Bank Details.

  5. Complete the fields on the New Entity Bank Details page:

    Field

    Description

    Payment File Format

    Select Barclays MT103.

    Type

    Select whether the bank account is the vendor’s primary or secondary bank account.

    Swift Code/BIC

    Enter the Business Identifier Code (BIC), also called SWIFT code, of the vendor’s bank (eight or 11 characters).

    IBAN

    Enter the vendor’s International Bank Account Number (IBAN).

    Note:

    Entering the IBAN automatically disables the Account Number field.

    Account Number

    Enter the vendor’s bank account number.

    Note:

    Entering the account number automatically disables the IBAN field.

    Charging Instructions

    Select one from the following options:

    • BEN: Beneficiary pays all charges

    • OUR: Remitter pays all charges

    • SHA: Shared charges. The remitter pays Barclays’ charges and the beneficiary pays the rest of the charges.

  6. Click Save.

Related Topics

General Notices