Can some tell me the basic data set up required for WIRE payments ?
Userlevel 6
+11
WIRE payments are generally handled via SWIFT clearing net work and generally use for cross boarder (forign) payments. You can use ISO20022 format to execute a WIRE payment under correct basic data setup. For an example, WIRE payments are sent as Urgent Payment. So you have to set the correct basis data setup in Supplier’s electronic pay address. This is a consulting task.
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