If a counterparty wants to use an account that is hosted internationally, you can easily add the external account using necessary account information.
You'll want to walk through the same initial steps for creating the counterparty:
- You will want to click "+ New Counterparty" within the Counterparties section.
- Fill out the Counterparty Name. If you want to send a counterparty invite (so the counterparty can fill in their account details), you'll want the email address as well.
- Select the dropdown for Add Bank Account - from there, you will be able to see the bank account options to select from:
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Keep in mind that for each of the accounts, you will want the following information:
- International Account: SWIFT and account number
- EU Account: SWIFT and IBAN
- AU Account: Australian BSB number and account number (SWIFT code optional)
- CA Account: Canadian routing number and account number
- GB Account: Sort code and account number (IBAN optional)
Please keep in mind that the following pieces of information will still be included with the bank account creation:
- Name on Account - This is required; you will need to enter the legal name that is attached to the bank account.
- Account Nickname - This is not required; you can use this to easily identify the counterparty's external account as needed. This is for internal use only.
- Counterparty Type - This is not required, but is useful; this helps distinguish between a PPD and a CCD payment (these are Standard Entry Class codes for ACH).
- Account Type - Not required; this is to identify whether the account is a checking or savings account.
- Address on Account - This is required for wires.
- International Details - This is required for international wire payments.
For any questions on how to set up a particular international account, please contact your CSM or support@moderntreasury.com for assistance.