Company Bank Details are only required if you would like to generate and issue SEPA files to pay your employees Electronically through a batch payment with your bank for your payrolls on Buddy.
Add Company Bank Details
To add the company's bank details,
- Go to Company Settings
- Click on the Bank tab
- Insert your Bank Name, IBAN and BIC
- If your Bank requires you to have a specific Code and Password, fill in those fields. Otherwise, leave empty
- Choose whether to enable batch mode (this is recommended)
- Click Update to save the Bank Details
Once the bank details are saved, you should be able to download a SEPA file from Payroll History (See: How do I download a SEPA file for bank transfers?).
Bank of Valletta Code
Please note that if your Bank is Bank of Valletta, when inserting VALLMTMT as your Swift Code, you might be asked to also insert a Code and Password.
This may depend on your agreement with the bank; a password is generally no longer required from 2024 onwards.
The new version also requires that data is submitted via batch mode, so BoV customers will need to enable the toggle.