Wire Requirements

our domestic wire payment feature allows you to easily send wire payments within both canada and the united states domestic wire payments are always sent in the local currency of the transaction's country—usd for us based payments and cad for canadian based payments once you initiate a payment in your erp, it is securely sent to your bank for processing and is typically received within approximately 10 minutes note for netsuite users, the entity bank details bundle is required to process wire payments through the plugin vendor record & bill requirements please include the following required information for all payments to avoid potential delays or returns the entity's full name, address (post code, city name, state etc ), and phone number, are expected to be populated on the vendor record the entity and bill (where applicable) billing addresses must reside in the country of destination, matching the entity bank details record the currency of the vendor bill must be in cad or usd, which must match the source account key terms below are some key terms to make navigating the instructions and set up for fedwire payments easier! swift/bic code bank identifier code (bic) also referred to as a swift code consists of 8 (primary) to 11 (primary and branch code) alphanumeric and is used as a unique identifier for financial institutions please note if a bic is not known, the full name and address of the bank should be provided payment requirements united states method domestic country united states currency usd or cad requirements routing number is mandatory account number is mandatory payer account number is 6 to 10 digits destination account number can be up to 12 digits canada method domestic country canada currency cad or usd requirements transit number is mandatory institution number is mandatory account number is mandatory payer account number is 7 digits destination account number can be up to 12 digits