DOMESTIC AND GLOBAL BANK TRANSFERS
Save time and money by having your Coupa Pay customers all over the world directly deposit payments to your bank account.
Bank Transfers
Setting up payment preferences
Go to Setup > Admin > Payment Methods. Click the Add Remit-To button to launch the module to add a payment method for your Legal Entity. Click here if you haven’t created a Legal Entity yet.
Set up a new Remit-To Bank Account
After clicking the Add Remit-To button, select Bank Account from the Payment Type dropdown in the dialog box that pops up.
Follow the prompts to add your banking information. Click here to see the specific bank account information that’s required for your country and currency.
TIP: Set your bank account currency to match your home country currency to avoid additional wire and banking fees. Be sure your invoice currency matches the bank account currency to process payments successfully.
If you see an error when saving your bank account, do NOT click ‘Ignore errors and save anyway’. This will result in payment delays. Review the guidance below for help.
Avoiding Bank Account Errors
When you add your bank account with a Coupa Pay customer, Coupa performs a validation before sending the bank information to your customer.
Be sure to enter the correct bank information and bank state (if the field is shown after selecting your Bank Account Country/Region). Refer to this Help Page to check the details required for your bank account country and currency. Although SWIFT/BIC may not be required, we recommend adding the information if available.
If you see a red error message when saving your bank account, do NOT click ‘Ignore errors and save anyway’. Your bank information will not be successfully sent to your Coupa Customer and will result in payment delays.
Troubleshooting Bank Account Errors
Coupa validates your bank account before sharing it with a customer using Coupa Pay. If you see an error message and ‘Failed to Share’ status, it means the bank information could not be validated and shared. Please check the error message for any missing data and click Update Remit-To to edit the account information.
You can also try creating a new Bank Account with the correct details and sharing it with your Coupa Pay customer. Refer to this Help Page to see the bank information that’s required based on your bank account country and currency. This can help you successfully save the bank account.
If you are unable to share your bank account with your Coupa Pay customer because of errors, please contact Coupa Supplier Support at [email protected]. Provide your Customer Name and the error message(s) you are seeing.
Viewing your Bank Payments
Simply navigate to the Payments tab and click on Invoice Payments. Each payment is linked to the associated invoice(s) for easy reconciliation.
Note: The Payments page is visible to users with the Payments permission connected to at least one Coupa Pay customer.
How Coupa Bank Payments show up on your U.S. bank statement
To help with matching your payments to invoices, log into the CSP and navigate to the Payments tab to view all the bank payments made to you. Use the payment number from the bank statement to find the corresponding payment in the CSP, which will show you the invoice(s) paid by that bank transfer payment.
How Coupa Bank Payments show up on your Non-U.S. bank statement
Coupa bank transfer payments will be marked as TRANSFERMATE or INTERPAY on your bank statement.
To help with matching your payments to invoices, log into the CSP and navigate to the Payments tab to view all the bank payments made to you. Use the payment number from the bank statement to find the corresponding payment in the CSP, which will show you the invoice(s) paid by that bank transfer payment.