Supplier record - bank

Enter up to 60 characters for the name of the bank. This is for information and reporting purposes only.

Enter the supplier's bank address, using up to 60 characters per line. This is for information and reporting purposes only.

Enter up to sixty characters for the name of the supplier's bank account. This is for information and reporting purposes only.

Enter the supplier's bank’s sort code.

If you intend to make electronic payments to the supplier, using E-Banking, the supplier's bank sort code must be recorded.

To use BACS to pay money to your supplier, enter the BACS reference number.

This is used for making E-Banking payments.

If required, enter the Supplier's International Bank Account Number (IBAN). This is a specific format of the bank account number that makes transactions between European countries easier by reducing errors and delays. This number is validated when you enter it in the record, it should be 34, alpha numeric characters broken down to:

• Two letters for country code.
• Two check digits.
• Up to thirty, (30), alphanumeric characters for the bank number.

You can check if the format of the IBAN is correct at http://www.tbg5-finance.org/?ibancheck.shtml

You must use an IBAN when payments are made or received across country borders in the European Union (EU), European Economic Areas (EEA) and Switzerland.

An IBAN is always used in conjunction with a Bank Identifier Code (BIC).

If required, enter the BIC number or swift code for this Supplier's bank account. The BIC or Swift Code, is a way of identifying financial organisations.

This number is validated when you enter it in the record it should be 11 alphanumeric characters broken down to:

• Four letters for bank or institution code.
• Two letters for country code.
• Two letters for location code, broken down to:
  • If the second character is 0, it's usually a test BIC rather than a BIC on the live network.
  • If the second character is 1, it denotes a passive participant in the SWIFT network.
  • If the second character is 2, it's usually a reverse billing BIC, where the recipient pays for the message rather than the more usual mode where the sender pays for the message.
• Three alphanumeric characters for the branch code, which is optional and can be replaced with the value XXX.

This is an additional reference used by some building societies. Enter the roll number for this account if there is one.

This is used for making E-Banking payments.

Enter any additional information you have received about this supplier's bank account.

From the drop-down list, choose the preferred payment method agreed with this supplier, from the following:

• BACS
• Cash
• Cheque
• Credit Card
• Direct Debit (DD)
• Standing Order (SO)
• Other

If the method involves online payment, click the Online check box then click OK. This is used for making E-Banking payments.