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Creating a Counterparty

Gail Blachly
  • Updated

A Counterparty is an entity outside of your organization to send or receive money from. They can either be an individual or a business. Counterparties can be created via Modern Treasury's web app, or via our API. This guide outlines how to create a counterparty via the web app. 

To create a counterparty

  1. Login to Modern Treasury

  2. Navigate to the Counterparties page, within the "Payments" section
  3. Click "Create New" > "Counterparty"
  4. Complete the form with the counterparty's information
    • Required fields:
      • Counterparty Name: this should be the legal name on their bank account
    • Optional Fields
      • Email: required for sending notifications, and this makes it easier to search counterparties
      • Bank Account(s)
      • Metadata
      • Documents 
  5. Click "Create" to save the counterparty

Frequently Asked Questions

What do I do if I don't have a counterparty's bank information?

If you do not already have a counterparty's external bank account information then you can send them an invitation, which prompts them to enter if themselves. You can learn more about how to do this here. 

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