SEPA Requirements
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.
