--- title: SEPA Requirements slug: jpmorgan/sepa-requirements description: Discover the necessary steps to ensure timely SEPA payments! docTags: createdAt: 2022-08-02T19:58:09.000Z --- 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: ::::WorkflowBlock :::WorkflowBlockItem ### Vendor Record The Entity's full name and address must be accurately populated on the Vendor record. ::: :::WorkflowBlockItem ### 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. ::: :::: *** :::::ExpandableHeading{isOpen="true"} ## 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** ::::WorkflowBlock :::WorkflowBlockItem **BIC Code** is mandatory. ::: :::WorkflowBlockItem **IBAN** required: 24 characters ::: :::: ### Austria **Payment Context** - **Swift BIC Country Code: **AT - **Method: **Domestic - **Country:** Austria - **Currency:** EUR **Requirements** ::::WorkflowBlock :::WorkflowBlockItem **BIC Code** is mandatory. ::: :::WorkflowBlockItem **IBAN** required: 20 characters ::: :::: ### Belgium **Payment Context** - **Swift BIC Country Code: **BE - **Method: **Domestic - **Country:** Belgium - **Currency:** EUR **Requirements** ::::WorkflowBlock :::WorkflowBlockItem **BIC Code** is mandatory. ::: :::WorkflowBlockItem **IBAN** required: 16 characters ::: :::: ### Bulgaria **Payment Context** - **Swift BIC Country Code: **BG - **Method:** Domestic - **Country:** Bulgaria - **Currency:** EUR **Requirements** ::::WorkflowBlock :::WorkflowBlockItem **BIC Code** is mandatory. ::: :::WorkflowBlockItem **IBAN** required: 22 characters ::: :::WorkflowBlockItem **Telephone Number** must be populated on the Entity record. ::: :::: ### Croatia **Payment Context** - **Swift BIC Country Code: **HR - **Method:** Domestic - **Country: **Croatia - **Currency:** EUR **Requirements** ::::WorkflowBlock :::WorkflowBlockItem **BIC Code** is mandatory. ::: :::WorkflowBlockItem **IBAN** required: 21 characters ::: :::: ### Cyprus **Payment Context** - **Swift BIC Country Code: **CY - **Method:** Domestic - **Country:** Cyprus - **Currency:** EUR **Requirements** ::::WorkflowBlock :::WorkflowBlockItem **BIC Code** is mandatory. ::: :::WorkflowBlockItem **IBAN** required: 28 characters ::: :::: ### Czech Republic **Payment Context** - **Swift BIC Country Code: **CZ - **Method: **Domestic - **Country:** Czech Republic - **Currency:** EUR **Requirements** ::::WorkflowBlock :::WorkflowBlockItem **BIC Code** is mandatory. ::: :::WorkflowBlockItem **IBAN** required: 24 characters ::: :::WorkflowBlockItem **Telephone Number** must be populated on the Entity record. ::: :::: ### Denmark **Payment Context** - **Swift BIC Country Code: **DK - **Method:** Domestic - **Country:** Denmark - **Currency:** EUR **Requirements** ::::WorkflowBlock :::WorkflowBlockItem **BIC Code** is mandatory. ::: :::WorkflowBlockItem **IBAN** is mandatory. ::: :::: ### Estonia **Payment Context** - **Swift BIC Country Code: **EE - **Method: **Domestic - **Country:** Estonia - **Currency:** EUR **Requirements** ::::WorkflowBlock :::WorkflowBlockItem **BIC Code** is mandatory. ::: :::WorkflowBlockItem **IBAN** is mandatory. ::: :::: ### Finland **Payment Context** - **Swift BIC Country Code: **FI - **Method: **Domestic - **Country:** Finland - **Currency:** EUR **Requirements** ::::WorkflowBlock :::WorkflowBlockItem **BIC Code** is mandatory. ::: :::WorkflowBlockItem **IBAN** is required: 18 characters ::: :::: ### France **Payment Context** - **Swift BIC Country Code: **FR - **Method: **Domestic - **Country:** France - **Currency:** EUR **Requirements** ::::WorkflowBlock :::WorkflowBlockItem **BIC Code** is mandatory. ::: :::WorkflowBlockItem **IBAN** is mandatory. ::: :::: ### Germany **Payment Context** - **Swift BIC Country Code: **DE - **Method: **Domestic - **Country: **Germany - **Currency:** EUR **Requirements** ::::WorkflowBlock :::WorkflowBlockItem **BIC Code** is mandatory. ::: :::WorkflowBlockItem **IBAN** is required: 22 characters ::: :::: ### Greece **Payment Context** - **Swift BIC Country Code: **GR - **Method:** Domestic - **Country:** Greece - **Currency:** EUR **Requirements** ::::WorkflowBlock :::WorkflowBlockItem **BIC Code** is mandatory. ::: :::WorkflowBlockItem **IBAN** is mandatory. ::: :::: ### Hungary **Payment Context** - **Swift BIC Country Code: **HU - **Method:** Domestic - **Country:** Hungary - **Currency:** EUR **Requirements** ::::WorkflowBlock :::WorkflowBlockItem **BIC Code** is mandatory. ::: :::WorkflowBlockItem **IBAN** is mandatory. ::: :::: ### Ireland **Payment Context** - **Swift BIC Country Code: **IE - **Method:** Domestic - **Country: **Ireland - **Currency:** EUR **Requirements** ::::WorkflowBlock :::WorkflowBlockItem **BIC Code** is mandatory. ::: :::WorkflowBlockItem **IBAN** is required: 22 characters ::: :::: ### Italy **Payment Context** - **Swift BIC Country Code: **IT - **Method: **Domestic - **Country: **Italy - **Currency:** EUR **Requirements** ::::WorkflowBlock :::WorkflowBlockItem **BIC Code** is mandatory. ::: :::WorkflowBlockItem **IBAN** is required: 27 characters ::: :::: ### Jersey **Payment Context** - **Swift BIC Country Code: **JE - **Method: **Domestic - **Country:** Jersey - **Currency:** EUR **Requirements** ::::WorkflowBlock :::WorkflowBlockItem **BIC Code** is mandatory. ::: :::WorkflowBlockItem **IBAN** is mandatory. ::: :::: ### Latvia **Payment Context** - **Swift BIC Country Code: **LV - **Method: **Domestic - **Country:** Latvia - **Currency:** EUR **Requirements** ::::WorkflowBlock :::WorkflowBlockItem **BIC Code** is mandatory. ::: :::WorkflowBlockItem **IBAN** is required: 21 characters ::: :::: ### Liechtenstein **Payment Context** - **Swift BIC Country Code: **LI - **Method: **Domestic - **Country: **Liechtenstein - **Currency:** EUR **Requirements** ::::WorkflowBlock :::WorkflowBlockItem **BIC Code** is mandatory. ::: :::WorkflowBlockItem **IBAN** is mandatory. ::: :::: ### Lithuania **Payment Context** - **Swift BIC Country Code: **LT - **Method: **Domestic - **Country:** Lithuania - **Currency:** EUR **Requirements** ::::WorkflowBlock :::WorkflowBlockItem **BIC Code** is mandatory. ::: :::WorkflowBlockItem **IBAN** is required: 20 characters ::: :::: ### Luxembourg **Payment Context** - **Swift BIC Country Code: **LU - **Method:** Domestic - **Country: **Luxembourg - **Currency:** EUR **Requirements** ::::WorkflowBlock :::WorkflowBlockItem **BIC Code** is mandatory. ::: :::WorkflowBlockItem **IBAN** is mandatory. ::: :::: ### Malta **Payment Context** - **Swift BIC Country Code: **MT - **Method: **Domestic - **Country:** Malta - **Currency:** EUR **Requirements** ::::WorkflowBlock :::WorkflowBlockItem **BIC Code** is mandatory. ::: :::WorkflowBlockItem **IBAN** is mandatory. ::: :::: ### Monaco - **Swift BIC Country Code: **MC - **Method:** Domestic - **Country:** Monaco - **Currency:** EUR **Requirements** ::::WorkflowBlock :::WorkflowBlockItem **BIC Code** is mandatory. ::: :::WorkflowBlockItem **IBAN** is mandatory. ::: :::: ### Netherlands - **Swift BIC Country Code: **NL - **Method: **Domestic - **Country:** Netherlands - **Currency:** EUR **Requirements** ::::WorkflowBlock :::WorkflowBlockItem **BIC Code** is mandatory. ::: :::WorkflowBlockItem **IBAN** is required: 18 characters ::: :::: ### Norway **Payment Context** - **Swift BIC Country Code:** NO - **Method: **Domestic - **Country: **Norway - **Currency:** EUR **Requirements** ::::WorkflowBlock :::WorkflowBlockItem **BIC Code** is mandatory. ::: :::WorkflowBlockItem **IBAN** is mandatory. ::: :::: ### Poland **Payment Context** - **Swift BIC Country Code: **PL - **Method: **Domestic - **Country: **Poland - **Currency:** EUR **Requirements** ::::WorkflowBlock :::WorkflowBlockItem **BIC Code** is mandatory. ::: :::WorkflowBlockItem **IBAN** is required: 28 characters ::: :::: ### Portugal **Payment Context** - **Swift BIC Country Code:** PT - **Method: **Domestic - **Country: **Portugal - **Currency:** EUR **Requirements** ::::WorkflowBlock :::WorkflowBlockItem **BIC Code** is mandatory. ::: :::WorkflowBlockItem **IBAN** is required: 25 characters ::: :::: ### Romania **Payment Context** - **Swift BIC Country Code: **RO - **Method: **Domestic - **Country: **Romania - **Currency:** EUR **Requirements** ::::WorkflowBlock :::WorkflowBlockItem **BIC Code** is mandatory. ::: :::WorkflowBlockItem **IBAN** is required: 24 characters ::: :::: ### San Marino **Payment Context** - **Swift BIC Country Code: **SM - **Method:** Domestic - **Country: **San Marino - **Currency:** EUR **Requirements** ::::WorkflowBlock :::WorkflowBlockItem **BIC Code** is mandatory. ::: :::WorkflowBlockItem **IBAN** is mandatory. ::: :::: ### Slovakia **Payment Context** - **Swift BIC Country Code: **SK - **Method: **Domestic - **Country: **Slovakia - **Currency:** EUR **Requirements** ::::WorkflowBlock :::WorkflowBlockItem **BIC Code** is mandatory. ::: :::WorkflowBlockItem **IBAN** is mandatory. ::: :::: ### Slovenia **Payment Context** - **Swift BIC Country Code: **SI - **Method:** Domestic - **Country: **Slovenia - **Currency:** EUR **Requirements** ::::WorkflowBlock :::WorkflowBlockItem **BIC Code** is mandatory. ::: :::WorkflowBlockItem **IBAN** is mandatory. ::: :::: ### Spain **Payment Context** - **Swift BIC Country Code: **ES - **Method: **Domestic - **Country: **Spain - **Currency:** EUR **Requirements** ::::WorkflowBlock :::WorkflowBlockItem **BIC Code** is mandatory. ::: :::WorkflowBlockItem **IBAN** is required: 24 characters ::: :::: ### Sweden **Payment Context** - **Swift BIC Country Code: **SE - **Method: **Domestic - **Country:** Sweden - **Currency:** EUR **Requirements** ::::WorkflowBlock :::WorkflowBlockItem **BIC Code** is mandatory. ::: :::WorkflowBlockItem **IBAN** is required: 24 characters ::: :::: ### Switzerland **Payment Context** - **Swift BIC Country Code: **CH - **Method: **Domestic - **Country:** Switzerland - **Currency:** EUR **Requirements** ::::WorkflowBlock :::WorkflowBlockItem **BIC Code** is mandatory. ::: :::WorkflowBlockItem **IBAN** is required: 21 characters ::: :::WorkflowBlockItem **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** ::::WorkflowBlock :::WorkflowBlockItem **BIC Code** is mandatory. ::: :::WorkflowBlockItem **IBAN** is required: 22 characters ::: :::: ::::: *** ::::ExpandableHeading{isOpen="true"} ## 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. :::hint{type="warning" indent="1"} **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. :::hint{type="info"} **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. ::: ::Image[]{src="https://api.archbee.com/api/optimize/MM6nC_bKbIkwCRqiFZqEu/EbIxVpYsmsAcU6Iw5PJhJ_vendor-netsuite-myers-coaching-services-ltd-2023-07-10-15-23-57.png" size="80" width="937" height="426" position="center" caption="Type, Company Name and Address are required for all payments." showCaption="true"} ### 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. ::Image[]{src="https://api.archbee.com/api/optimize/MM6nC_bKbIkwCRqiFZqEu/OSbrTUQXF34QpCNCx9xZp_bill-netsuite-myers-coaching-services-ltd-2023-07-10-15-38-22.png" size="80" width="997" height="708" darkWidth="997" darkHeight="708" position="center" caption="A NetSuite Bill" showCaption="true"} ::::