Mandatory information related to currency payments in Heeros Link
Supplier basic information
Supplier bank details
Payments made outside the SEPA area, as well as payments that are not in euros, are made as currency payments. When using currency payments, mandatory information must be added to the supplier's details. If the mandatory information for the currency payment is missing from the supplier/invoice, Link will notify about the missing information but will allow the invoice to be processed in Link. However, the missing information must be added before the currency payment is made in Heeros Purchase Invoices.
The mandatory information for currency payments is added to the supplier as follows:
- New supplier: mandatory information is added in Heeros Link. A supplier can also be added in Heeros Link without mandatory information, but the information must be added to the supplier register in Heeros Purchase Invoices before the supplier's invoices are paid.
- Supplier in the Suppliers register: mandatory information is added in Heeros Purchase Invoices.
- If Link's supervision is done by Heeros, the mandatory information must be added to the supplier in Heeros Purchase Invoices.
Mandatory supplier information related to currency payments
When establishing a new supplier, the following information must be completed for the supplier:
Supplier basic information
Country code
The country of the supplier is selected from the list according to the supplier's nationality.
Supplier bank details
BIC / SWIFT code or Clearing code
In currency payments, the routing of the payment to the recipient's bank is primarily based on the BIC/SWIFT address or Clearing code.
- BIC/SWIFT code is not required for payments between SEPA countries from October 31, 2016. In other currency payments, the BIC/SWIFT code is mandatory.
- The Clearing code is used as the payment identifier when paying to the United States, Canada, India, New Zealand, or Australia.
Supplier's bank name and address details
To ensure the payment reaches its destination, we recommend also saving the recipient's bank name and address details as accurately as they are available. However, the payment will still be processed from Link even if the recipient's bank address details are missing.
Country code
The bank's country code is only completed when the currency is other than euro (not Eur). The country code must be selected according to the currency used (e.g., currency GBP = country code GB).
Fees
The general international fee practice for foreign payment transactions is that both the payer and the recipient are responsible for their own bank's fees. The default selection for fees in Link is shared fees (SHA).
However, the payer and recipient can agree together that a different fee practice is selected for the payment. Possible fee practices are (in parentheses the machine-readable term for the fee code):
- SHA (SHAR) the payer and recipient are responsible for their own bank's fees
- OUR (DEBT) the payer (Debtor) pays the fees of the foreign bank
- BEN (CRED) the recipient (Creditor) pays all transaction fees of the payment.