FedWire Requirements
Wire payments are supported in three different regions/currencies:
- US/USD - Generally available
- CA/CAD - In Pilot
- GB/GBP - In Pilot
If you wish to join an ongoing pilot, please reach out to your bank representative to request access. The below information pertains to US/USD payments only.
NetSuite Vendor Requirements
Summary of Requirements:
- Company Name (Max 140 characters)
- Type (Company or Individual)
- A valid US Address, without the use of the "override" feature
The company name, type and address of the vendor are required to be populated. This information lives on the Vendor record and resides in default fields as part of the base NetSuite. The phone number is optional. It is unacceptable to use the "Override" feature on the address, as this can interfere with extracting accurate address information.
Print on Check As will be used as the vendor name when populated. This is the beneficiary name that will be transmitted in any remittance.
NetSuite Vendor Bank Account Requirements
For NetSuite users, the FISPAN Entity Bank Details bundle is required to process Wire payments through the plugin. To learn more about this bundle, use the menu on the left to navigate to the NetSuite Plugin Setup.
Once installed, this bundle can be accessed via the Vendor record under the tab: "Entity Bank Details."
Summary of Requirements:
- Method = Domestic
- Country = United States
- Currency = USD
- Type of Accounts (default = Checking)
- Account Number (Expected between 5 and 18 digits)
- Routing Number (Exactly 9 digits)
- BIC Code (Exactly 8 or 11 characters)
NetSuite Bill Requirements
In order to be eligible for payment, NetSuite bills must be in an OPEN state and marked as Approved.
Summary of Requirements:
- State = OPEN
- Approval Status = Approved
- For Wire payments, the billing address must be in the US and the "Override" toggle may not be checked for the address on the bill.
- For Wire payments, only bills in USD are acceptable.
- The Reference No. must be no greater than 30 characters.
- The Memo must be no greater than 140 characters, if provided.
