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EAP: Is BIC Code Mandatory for SEPA Payments? (Doc ID 1939568.1)

Last updated on OCTOBER 01, 2018

Applies to:

PeopleSoft Enterprise FIN Cash Management - Version 9.1 and later
Information in this document applies to any platform.

Goal

In the payment file that is created by PeopleSoft for SEPA payments, the BIC code is a mandatory field.


If you try to leave the DFI ID field empty on the vendor bank account options, the system does not allow and fires the following error message:
"Depository Financial Institute (DFI) ID is required. (9450,3)"

Why is the BIC Code mandatory for SEPA payments?

STEPS
1. On Accounts Payable > Vouchers > Add Update > Regular Entry, create voucher with SEPA payment
2. Create the payment
3. Navigate to Financial Gateway > Process Payments > Payment Dispatch, and dispatch the payment

 

Solution

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In this Document
Goal
Solution
References


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