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:
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Go to Lists > Relationships > Vendors.
For information on adding a vendor, see Creating a Vendor Record.
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Click the Edit link next to the name of the vendor.
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On the Bank Payment Details subtab, check the EFT Bill Payment box, and click Save.
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Click New Entity Bank Details.
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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:
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BEN: Beneficiary pays all charges
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OUR: Remitter pays all charges
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SHA: Shared charges. The remitter pays Barclays’ charges and the beneficiary pays the rest of the charges.
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Click Save.