Setting Company Bank Accounts on Talexio

Alasdair MacNeill
Alasdair MacNeill
  • Updated

Overview

Using Talexio, you can pay your employees using an automatically generated payment file which the payroll officer will send to the bank. This file includes instructions on each payment, including the beneficiary (employee) details and also the amount to pay them.

When adding the Company Bank Account on Talexio, there are certain requirements that need to be filled in order for the system to generate a payment file. 

Prior to generating your first payment file, you will need to make sure the Payroll Settings are completed. 

Permissions

To set up your company's bank account, you will need the Manage Client Settings permission set on Global.

Setting up the Company Bank Account

Bank Requirements

The following is a breakdown of requirements for each Bank currently supported on Talexio.

  • IBAN - An IBAN, or International Bank Account Number, is a standard international numbering system developed to identify a bank account.
  • BIC - A BIC is a standard format for Business Identifier Codes (BIC). It’s used to identify banks and financial institutions globally.
  • Account Number - An account number is your unique reference to your account with a certain bank.
  • Payment File Password - Certain banks require a password to be included with every payroll. More information on this can be found here.
  • Unique Client ID - Certain banks require you to include your Unique Client ID to be included in the payment file. This Unique Client ID will have been provided to you by your bank. 
    • APS - The bank Unique Client ID is known as "Corporate Business Code".
    • BOV - The bank Unique Client ID is known as "Subscriber ID"
    • HSBC - The bank Unique Client ID is known as "HSBC Connect Customer ID"

The following table outlines which of these fields is required by the banks supported on Talexio.

 

Other Payment File Information

Once your bank details have been saved on Talexio, you may wish to create a test payment file. For more information, click here.

Since this file is read by an automated system on the bank's end, each bank has its own set of rules which are programmed into Talexio which include how the file should be shaped and what information it should contain. To learn more about these rules, click here.

 

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