Wire Requirements
FedWire, or domestic US Wires, payments are used to move funds within the US. All transfers must be in USD.
FedWire payments will be received by your bank about 10 minutes after clicking pay in your ERP.
For NetSuite users, the Entity Bank Details bundle is required to process FedWire payments through the plugin.
Please submit your Wire and A2A transfers by 5:30pm EST to ensure they meet the final batch deadline. Wire or A2A transfers received after 5:40pm EST will be processed the following day.
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, 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 USD.
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
Swift BIC Country Code: US
Method: Domestic
Country: United States
Currency: USD
Requirements:
- SWIFT/BIC Code or Routing Number is Mandatory
- Account Number is Mandatory
- Receiving Bank Name is Mandatory
- Payer Account Number is 6 to 10 digits
- Receiving Account Number can be up to 12 digits