Hey guys,We have a request from a US customer who wants to use electronic payment for Trust of America bank.When contacting the bank, they said they do not have a specific document or layout. Has anyone created layouts for US banks? Is there a document that structures the file to be generated?
Question
Automatic Supplier Payment for Trust of America Bank
+1
+11I assume that more and more bank globally will use ISO 20022 for payments. Having a quick look at their website it seems like BofA might support this format as well.
https://business.bofa.com/en-us/content/iso-20022-migration.html
Hi,
Agree with Ralf. ACH is also possible - but usually has some issues, so ISO is better option (assuming the bank can support it.
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+1Hi all,Thanks for the help.Have you already created a layout in this format?Does anyone have a document or step by step guide on how to do this?
Hi,
Go to payment formats - payment format per company.
This is how we enable a given payment format. We would not need to create a format / layout when it’s already supported. You enable it, then create a payment method record with that format.
See image from IFS Cloud… IFS has many payment formats as supported. You just enable it, then complete the set up.
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