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.
If you set up your UK or Japan vendors before 3/8/19 or your China or South Africa vendors before 4/12/19, they will need to be updated. In the future, this will be a requirement before you are able to submit new payments to them.
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
- Re-enter the bank account with the new requirements
- 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