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 key terms below are some key terms to help you navigate the instructions and setup for sepa payments more easily 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/bic code a bank identifier code (bic), also known as a swift code, is an 8 to 11 character alphanumeric code that uniquely identifies financial institutions note if the bic is unavailable, you must provide the bank's full name and address instead vendor and bill requirements to prevent payment delays or returns, all payments are required to have the following requirements vendor record the entity's full name and address must be accurately populated on the vendor record billing address and location the entity and bill (if applicable) billing addresses must be located in the country of destination and must match the country specified in the entity bank details record payment requirements by country additional requirements may apply depending on the destination please review the country specific requirements listed below andorra payment context swift bic country code ad method domestic country andorra currency eur requirements bic code is mandatory iban required 24 characters austria payment context swift bic country code at method domestic country austria currency eur requirements bic code is mandatory iban required 20 characters belgium payment context swift bic country code be method domestic country belgium currency eur requirements bic code is mandatory iban required 16 characters bulgaria payment context 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 payment context swift bic country code hr method domestic country croatia currency eur requirements bic code is mandatory iban required 21 characters cyprus payment context swift bic country code cy method domestic country cyprus currency eur requirements bic code is mandatory iban required 28 characters czech republic payment context swift bic country code cz method domestic country czech republic currency eur requirements bic code is mandatory iban required 24 characters telephone number must be populated on the entity record denmark payment context swift bic country code dk method domestic country denmark currency eur requirements bic code is mandatory iban is mandatory estonia payment context swift bic country code ee method domestic country estonia currency eur requirements bic code is mandatory iban is mandatory finland payment context swift bic country code fi method domestic country finland currency eur requirements bic code is mandatory iban is required 18 characters france payment context swift bic country code fr method domestic country france currency eur requirements bic code is mandatory iban is mandatory germany payment context swift bic country code de method domestic country germany currency eur requirements bic code is mandatory iban is required 22 characters greece payment context swift bic country code gr method domestic country greece currency eur requirements bic code is mandatory iban is mandatory hungary payment context swift bic country code hu method domestic country hungary currency eur requirements bic code is mandatory iban is mandatory ireland payment context swift bic country code ie method domestic country ireland currency eur requirements bic code is mandatory iban is required 22 characters italy payment context swift bic country code it method domestic country italy currency eur requirements bic code is mandatory iban is required 27 characters jersey payment context swift bic country code je method domestic country jersey currency eur requirements bic code is mandatory iban is mandatory latvia payment context swift bic country code lv method domestic country latvia currency eur requirements bic code is mandatory iban is required 21 characters liechtenstein payment context swift bic country code li method domestic country liechtenstein currency eur requirements bic code is mandatory iban is mandatory lithuania payment context swift bic country code lt method domestic country lithuania currency eur requirements bic code is mandatory iban is required 20 characters luxembourg payment context swift bic country code lu method domestic country luxembourg currency eur requirements bic code is mandatory iban is mandatory malta payment context swift bic country code mt method domestic country malta currency eur requirements bic code is mandatory iban 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 payment context swift bic country code no method domestic country norway currency eur requirements bic code is mandatory iban is mandatory poland payment context swift bic country code pl method domestic country poland currency eur requirements bic code is mandatory iban is required 28 characters portugal payment context swift bic country code pt method domestic country portugal currency eur requirements bic code is mandatory iban is required 25 characters romania payment context swift bic country code ro method domestic country romania currency eur requirements bic code is mandatory iban is required 24 characters san marino payment context swift bic country code sm method domestic country san marino currency eur requirements bic code is mandatory iban is mandatory slovakia payment context swift bic country code sk method domestic country slovakia currency eur requirements bic code is mandatory iban is mandatory slovenia payment context swift bic country code si method domestic country slovenia currency eur requirements bic code is mandatory iban is mandatory spain payment context swift bic country code es method domestic country spain currency eur requirements bic code is mandatory iban is required 24 characters sweden payment context swift bic country code se method domestic country sweden currency eur requirements bic code is mandatory iban is required 24 characters switzerland payment context 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 payment context swift bic country code gb method domestic country united kingdom currency eur requirements bic code is mandatory iban is required 22 characters sepa payments via netsuite sepa payments are supported only in specific countries the full list of countries can be found in the section above all sepa payments must have a source account located within the sepa zone and have a currency of eur netsuite vendor requirements the following fields must be accurately populated on the vendor record in netsuite company name max 70 characters type company or individual address must be a valid address from a country in the list above important do not use the override feature on the address, as it can interfere with the extraction of accurate address information print on check as optional phone number optional the company name, type, and address of the vendor are required this information lives on the vendor record and resides in default fields as part of the base netsuite note print on check as will be used as the vendor name when populated this is the beneficiary's name that will be transmitted in any remittance netsuite vendor bank account requirements for netsuite users, the entity bank details bundle is required to process ach 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 the following fields must be accurately populated method domestic country united states currency usd type of accounts default is 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 the following fields must be accurately populated 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