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ISO20022 Direct Debit

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ISO20022 Direct Debit

Posted by DSC Communities on May 12, 2020 at 10:47 am
- Christopher Mast
  
  Member
  
  May 12, 2020 at 10:47 AM
  
  Has anyone utilized the ISO 20022 EFT file format for digital cash receipts (commonly referred to as Direct Debit) through their bank? If so, how much modification did you need to do to the file to meet bank specs?
  
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  Christopher Mast
  Dynamics Specialist
  The TM Group, Inc.
  Farmington Hills MI
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- Thaddeus Suter
  
  Member
  
  May 12, 2020 at 11:07 AM
  
  Depends on your bank but ISO 20022 EFT file is supported through EFT for Receivables. Basically same effort in setup as EFT for Payables NACHA files.
  Customer side direct debit goes on address just like EFT for vendor addresses.
  
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  Thaddeus Suter
  Retus, Inc
  HELOTES TX
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DSC Communities replied 5 years, 4 months ago 1 Member · 0 Replies
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