What is the Bank Transfer payment method?

Bank Transfer is a manual payment method that you could provide to your customers to send their payment through their bank account to yours. In this case, the payment needs a couple of hours to be validated. Using Bank Transfer, you need to provide your customers with your IBAN and SWIFT/BIC code information, which will be displayed on the Thank you page after the customer clicks on “Complete Purchase”. Also, it is good to provide some instructions to the customer.

Note: It is important to know that if you don’t receive the purchase amount from the customer on time, you need to manually cancel the order in your ecommerce platform.

How to set up the payment method?

To set up the payment method, you need to go through the following steps:

  1. Go to Configuration > Payment Methods > Add a Payment Method
  2. Select Bank Transfer
  3. In the Detailed Payment Instructions field add the information about your payment method. This information will be shown on the Thank you page. Here is an example of what you could add as information:

    Please transfer the total purchase amount to the following bank account within 24 hours:
    CoolTees
    IBAN: BG66RZBB91553815328984
    SWIFT/BIC CODE: RZBBBGSF
    Once the payment is verified, we will send you a confirmation email!
  4. Click Save Payment Method.
  5. Done!

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