An international bank account allows you to directly send a payment to a foreign vendor's account, allowing them to receive the payment more quickly. When associating an international bank account with a vendor, you may require an IBAN and a SWIFT/BIC number for the account.
To add an International Payment Type To a Vendor, please follow the below-outlined steps:
- Navigate to the Vendors page and select the vendor for which you wish to add an international payment type. If you do not have a vendor created, click on the + Add Vendor button.
- Once selected, click the Add Account button next to the Payment Accounts title.
- On the Payment Method page, select International, followed by International Wire or Bank Transfer.
- From there, select the currency for which you wish your vendor to receive funds and choose the payment option.
- The Account Details page will be displayed after selecting the currency and payment options.
- Enter the requested information into the appropriate fields on the Account Details page, and review the information you've entered for accuracy.
- Click Save to finalize adding the international payment type to your vendor's profile.
Please ensure all information is accurate and complete before saving to avoid any issues with international payments.
To view the list of Restricted Countries and International Payment Types that Rho does not support, please take a look at this article.
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