EAP: Is IBAN always required for a Vendor using Payment Layout = SEPA_CT? (Doc ID 1934297.1)

Last updated on FEBRUARY 11, 2016

Applies to:

PeopleSoft Enterprise FIN Payables - Version 9.2 and later
Information in this document applies to any platform.

Goal

External Account is setup with a DFI ID, IBAN, Payment Layout of SEPA_CT, and Payment Currency of EUR.  Want to pay Vendors that are located in Ukraine and Russia, which are non-IBAN related,using this External Account. When the Voucher is saved, the following error occurs:

IBAN and BIC Required at the (To) Vendor Bank Account (7250,406)

Is it a requirement for the Vendor to have the IBAN and BIC specified, even though the Vendor's Bank does not require it, if trying to pay this Vendor using the Payment Layout = SEPA_CT?

Solution

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