SEPA Requirements

sepa payments are used to move funds within the single euro payments area all transfers must be in euro for netsuite users, the entity bank details bundle is required to process sepa payments through the plugin entity record & bill requirements please include the following required information for all payments to avoid potential delays or returns the entity's full name and address is expected to be populated on the entity record the entity and bill (where applicable) billing addresses must reside in the country of destination, matching the entity bank details record key terms below are some key terms to make navigating the instructions and set up for sepa payments easier! 1 international bank account number (iban) is 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 2 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 to see country specific requirements, open the expander below payment requirements by country andorra swift bic country code ad method domestic country andorra currency eur requirements bic code is mandatory iban required 24 characters austria swift bic country code at method domestic country austria currency eur requirements bic code is mandatory iban required 20 characters belgium swift bic country code be method domestic country belgium currency eur requirements bic code is mandatory iban required 16 characters bulgaria swift bic country code bg method domestic country bulgaria currency eur requirements bic code is mandatory iban required 22 characters telephone number must be populated on the entity record croatia swift bic country code hr method domestic country croatia currency eur requirements bic code is mandatory iban required 21 character cyprus swift bic country code cy method domestic country cyprus currency eur requirements bic code is mandatory iban required 28 characters czech republic swift bic country code cz method domestic country czech repubic currency eur requirements bic code is mandatory iban required 24 characters telephone number must be populated on the vendor record denmark swift bic country code dk method domestic country denmark currency eur requirements bic code is mandatory iban is mandatory estonia swift bic country code ee method domestic country estonia currency eur requirements bic code is mandatory iban is mandatory finland swift bic country code fi method domestic country finland currency eur requirements bic code is mandatory iban is required 18 characters france swift bic country code fr method domestic country france currency eur requirements bic code is mandatory iban is mandatory germany swift bic country code de method domestic country germany currency eur requirements 1 bic code is mandatory 2 iban is required 22 characters greece swift bic country code gr method domestic country greece currency eur requirements bic code is mandatory iban is mandatory hungary swift bic country code hu method domestic country hungary currency eur requirements bic code is mandatory iban is mandatory ireland swift bic country code ie method domestic country ireland currency eur requirements bic code is mandatory iban is required 22 characters italy swift bic country code it method domestic country italy currency eur requirements bic code is mandatory iban is required 27 characters jersey swift bic country code je method domestic country jersey currency eur requirements bic code is mandatory iban is mandatory latvia swift bic country code lv method domestic country latvia currency eur requirements bic code is mandatory iban is required 21 characters liechtenstein swift bic country code li method domestic country liechtenstein currency eur requirements bic code is mandatory iban is mandatory lithuania swift bic country code lt method domestic country lithuania currency eur requirements bic code is mandatory iban is required 20 characters luxembourg swift bic country code lu method domestic country luxembourg currency eur requirements bic code is mandatory iban is mandatory malta swift bic country code mt method domestic country malta currency eur requirements bic code is mandatory is mandatory monaco swift bic country code mc method domestic country monaco currency eur requirements bic code is mandatory iban is mandatory netherlands swift bic country code nl method domestic country netherlands currency eur requirements bic code is mandatory iban is required 18 characters norway swift bic country code no method domestic country norway currency eur requirements bic code is mandatory iban is mandatory poland swift bic country code pl method domestic country poland currency eur requirements bic code is mandatory iban is required 28 characters portugal swift bic country code pt method domestic country portugal currency eur requirements bic code is mandatory iban is required 25 characters romania swift bic country code ro method domestic country romania currency eur requirements bic code is mandatory iban is required 24 characters san marino swift bic country code sm method domestic country san marino currency eur requirements bic code is mandatory iban is mandatory slovakia swift bic country code sk method domestic country slovakia currency eur requirements bic code is mandatory iban is mandatory slovenia swift bic country code si method domestic country slovenia currency eur requirements bic code is mandatory iban is mandatory spain swift bic country code es method domestic country spain currency eur requirements bic code is mandatory iban is required 24 characters sweden swift bic country code se method domestic country sweden currency eur requirements bic code is mandatory iban is required 24 characters switzerland swift bic country code ch method domestic country switzerland currency eur requirements bic code is mandatory iban is required 21 characters telephone number must be present on the entity record united kingdom swift bic country code gb method domestic country united kingdom currency eur requirements bic code is mandatory iban is required 22 characters sepa via netsuite sepa payments are supported to specific countries only the full list of countries can be found in the expander above, under "payment requirements by country " all sepa payments must have a source account located within the sepa zone and have a currency of eur netsuite vendor requirements summary of requirements company name (max 70 characters) type (company or individual) a valid address, without the use of the "override" feature the country must be from the list above optional print on check as 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 sepa 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 = must be a country from the list above currency = eur type of accounts (default = checking) country specific requirements can be found in the list above generally bic is required (exactly 8 or 11 characters) iban is required (length varies per country) 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 sepa payments, the billing address must be from the acceptable list above and the "override" toggle may not be checked for the address on the bill for sepa payments, only bills in eur are acceptable the reference no must be no greater than 30 characters the memo must be no greater than 140 characters, if provided