Credit Transfers

Credit transfers work by enabling customers to send an electronic file to banks. This file provides banks with information that enables them to pay the customer's supplier invoices.

Credit data published by the BOD from the ERP is transformed into a proprietary message to be sent to the bank. Usually, the transfer is made through any of these processes, depending on the bank's requirements:

• Uploading the file through a portal to the bank
• Uploading the file to a third party, who will then forward it to the bank
• Allowing a third party to take the file from a prearranged location

We recommend that you contact your bank for their exact requirements.