Option 1: Add a bank account on behalf of the vendor

While creating the vendor in Routable

1. After entering the vendor information, choose Bank account as the vendor payment method.

2. Click the Add bank account button below to open the right side panel, which has fields for you to fill in the bank account details.

3. Fill in the bank account details according to the vendor's country. The number and type of account fields may vary depending on the country.

   1. You'll find more information about account and routing structures here! In case of any confusion, you should ask the vendor for clarification of their details before sending payments.

   2. Make sure the bank account information is correct, and that it matches the format we ask for. We will check the validity of the fields.

⭐️ If the vendor's bank account uses a non-local currency, such as USD, GBP, or EUR, choose that currency as the account currency to send a non-local currency transaction.

After the vendor has already been created in Routable

1. On the left side of your dashboard, click Companies.

2. Find the vendor you want to add a bank account for, and click on their company name.

3. Click the Vendor info tab and click the Add a payment method button, which will open the right side panel where you can enter the bank account details.

Option 2: Invite the vendor to add their bank account

While creating the vendor in Routable

1. After entering the vendor information, select Vendor's choice and click the Invite vendor button.

2. This will send an email invite to the vendor, where they can click to add their bank account details, among other information (like contacts and tax information).

While creating a payment for a vendor

1. While creating a payable, choose the payment method.

2. Select Allow vendor to select their payment method.

3. This will send an email invite to the vendor to enter their details.

4. The payable will stay in Pending status - Awaiting vendor action until the vendor responds to the invite.

Account currency

In both options, you have the choice of selecting a bank account in the vendor's local currency or in USD.

With the correct currency account set for the vendor, you can send USD, GBP or EUR directly to the vendor, regardless of their location.

If you want to list GBP or EUR as the default possible currency for your vendors, you can add these currencies via your account settings by doing the following:

1. Click on your profile icon on the left navigation.

2. Select Account settings from the menu that pops up.

3. Go to the Payment methods section and find the International bank transfer block.

4. Toggle the switch next to Enable SWIFT payments in GBP or EUR.

5. You're done! You can now use GBP or EUR as currencies for your vendors.