Within Modern Treasury, you have the option to either submit a single payment order or you can do a bulk payment order request.
At the top right, if you select the Bulk Payment Order option, you will be redirected to the following page:
Within this section, a Template CSV is available to be downloaded and then, in turn, uploaded in order to be processed. Below you will see the list of fields that are included within the CSV and what is required versus not.
CSV Template Fields
- Originating_account_id - Required - This field can be located underneath the "Process CSV" button on the payment order upload screen. Your internal account will always be the originating account.
- Type - Required - Designates the payment type you would like to request for the payment orders (e.g. ach, wire, book, etc).
- Priority - Not required - This field is only required if you are requesting a Same Day ACH. In that case, you will need to have "High" as the priority.
- Amount - Not required - This field needs to be filled in the value of cents. Since a bulk payment order request is mimicking a request made within the API, entering the value in cents ensures that we avoid a decimal issue within the files being submitted to the banks.
- Dollar Amount- Required - This field needs to be filled in the value of dollars.
- Direction - Required - Either debit or credit. A credit moves money from your account to someone else's. A debit pulls money from someone else's account to your own. *Note that wire and check payments will always be credit.
- Effective Date - Not required - The effective date is the date transactions are to be posted to the counterparty's account. If you wish to future date a payment order, you will want to fill in this field (format: yyyy-mm-dd). If this field is not filled, it will default to the next business date.
- Description - Not required - This field is solely for internal use - anything included within this field will not be visible to the counterparty.
- Statement_description - Not required - The bank statement description should be used for your counterparties to see more detail within their bank statement. This oftentimes defaults to including your company name, but there is room to include at least 10 more characters.
- Remittance_information - Not required - Remittance information is typically another field that can be utilized to describe the money that is being sent. Given this is another placeholder to provide more insight into the payment, for ACH, you can include up to 80 characters. For wires, you can send up to 140 characters.
- Metadata - Not required - Additional data represented as key-value pairs. Format for this should be as follows within the cell:
- If you wish to apply multiple metadata fields, they are separated using the |.
The next fields referring to counterparties will be dependent on whether a counterparty has been created within Modern Treasury or not.
If Created in Modern Treasury:
- Counterparty_id - Required
- Counterparty_account_id - Required - This refers to the specific external account for the counterparty.
If Not Created in Modern Treasury:
- Counterparty_name - Required
- Counterparty_routing_number - Required
- Counterparty_routing_type - Required - Either aba, swift or ca_cpa.
- Counterparty_account_number - Required
- Counterparty_account_number_type - Not required if domestic payment order- Supports iban and clabe. Otherwise null if the bank account number is in a generic format.
- Counterparty_account_type - Not required - Can be checking, savings or other.
- Counterparty_party_type - Not required - Either individual or business.
- Counterparty_address_line_1 - Not required - Only required if this is a payment order for a wire.
- Counterparty_address_line_2 - Not required - Only required if this is a payment order for a wire.
- Counterparty_address_locality - Not required - Only required if this is a payment order for a wire (would be the city).
- Counterparty_address_region - Not required - Only required if this is a payment order for a wire (would be the state).
- Counterparty_address_postal_code - Not required - Only required if this is a payment order for a wire.
- Counterparty_address_country - Not required - Only required if this is a payment order for a wire.