The required information for making payments to bank accounts in China, Japan, South Africa and the United Kingdom (UK), are changing. The bank account information currently added for these vendors will need to be updated.
These updates will help to ensure seamless delivery of funds, on time and without complications.
The changes for vendor bank accounts in Japan and the United Kingdom need to be completed by May 31, 2019. If not updated by then, new payments cannot be scheduled until the bank account is modified to meet the new requirements.
Payments already scheduled will not be affected.
Wait for any scheduled International wire payments to clear for your vendors in China, Japan, South Africa and the UK then:
- Deactivate the bank for these vendors - see Deactivating a Vendor bank account
- Re-enter the bank account with the new requirements - see Setting up an International vendor for wire transfer
- Branch name
- Account type:
- Ordinary Account / Futsuu koza
- Savings account / Chochiku koza
- Checking account / Toza koza
- UK: Sort code is switching to IBAN
- China: Vendor type is now required
- South Africa: Beneficiary Contact Name and Payment Contact Phone must be between 3 & 30 characters