International Wire Requirements
International Wire (Intl. Wire) payments facilitate the movement of funds from the United States to global destinations. This service enables businesses to pay international vendors and partners worldwide using Customers Bank's CUBIX Wires rail, provided that all transfers originate from US-based accounts and are processed exclusively in USD. This guide outlines the required vendor setups, ERP configurations, mandatory Intermediary Bank Details (IBD), and destination-specific account validations.
Key Terms
Review the following key terms and their definitions.
Term | Definition |
|---|---|
International Bank Account Number (IBAN) | A standard international numbering system developed to identify an individual’s account at a financial institution. The structure consists of a two-letter country code, followed by two digits and up to 30 alphanumeric characters. |
SWIFT/Bank Identifier Code (BIC) | Also referred to as a SWIFT code consists of 8 (primary) or 11 (primary and branch code) alphanumeric characters and is used as a unique identifier for financial institutions. |
Intermediary Bank Details (IBD) | A third-party financial institution in the United States that acts as a bridge between the originating bank and the overseas destination bank to route USD payments internationally. |
Vendor & Bill Requirements
For NetSuite users, the Entity Bank Details bundle is required to process International Wire payments through the plugin.
Please include the following required information for all payments to avoid potential delays or returns.
Vendor Record
The Entity's full name and full address must be accurately populated on the Vendor record.
NOTE: If the beneficiary is an individual, avoid using initials in the Vendor's name to avoid processing delays.
Billing Address and Location
The Bill, Vendor, and Entity bank account address (stored in the FISPAN Bank Details bundle) must have the destination country accurately listed. If an Entity has multiple bank accounts stored, then the address of the Bill must match the destination bank account's country.
NOTE: The name and full address of the destination bank account should be entered in the bank account's record.
Currency
To process these payments, the bill and destination account currency must be USD. In the Bank Details record, the Method of Storage must be designated as International.
Intermediary Bank Details
- Customers bank requires a valid US intermediary/correspondent bank for all international wires. In the EBD record, toggle on the Intermediary Bank Details option and enter the Intermediary Bank Name, 9-digit US ABA Routing Number, and Full Address (Street, City, State, and Country Code US).
IMPORTANT NOTE: An Intermediary Bank with a valid 9-digit ABA Routing Number and full address for all outgoing international wire payments should be entered in the bank account's record. If intermediary bank information is missing, the payment will fail with the error: "Intermediary Bank Information with a valid ABA Routing Number is required to process an International Wire Payment." Ensure the IBD toggle is turned on and filled out completely in the vendor's EBD record.
Payment Format
To avoid potential payment returns, please ensure the following required fields are populated on the vendor record:
Sender
Full name, account number, and address (Avoid use of P.O. Boxes)
Beneficiary
Full name, account number or IBAN, and address (Avoid use of P.O. Boxes)
Beneficiary Bank
Name, address, and SWIFT/BIC code (8 or 11 alphanumeric)
Intermediary Bank Details (IBD)
Name, address, and 9-digit ABA Routing Number
Available Countries
Expand the sections below to view the countries that support international wire payments.