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Administrator Guide
Last Updated: 2025-09-19
Define Bank Routing Rules

Define Bank Routing Rules

  • Define the bank accounts the company uses to make or receive payments.
    To define a rule for settling intercompany payments, set up an intercompany profile. See Define Intercompany Profiles.
  • Security:
    Set Up: Settlement
     domain in the Banking and Settlement functional area.
You can configure rules to determine which bank accounts the settlement process routes payments through. When a payment doesn't match any rule, Workday uses your default bank account.
Bank routing rules only use these bank account types:
  • Standard bank accounts.
  • Outsourced bank accounts.
These routing rules don't apply to petty cash accounts. A company can only have 1 bank routing rule.
  1. Access the
    Create Bank Routing Rule
     task.
  2. As you complete the task, consider:
    Option Description
    Default Bank Account
    Select a bank account to use for all supported categories of payments where the settlement process finds no matching rule condition, or specified conditions. You can only select bank accounts that are associated with the company.
    Workday recommends that the default bank account includes all account usages in its definition.
    Payment Type
    Workday routes the payment types through the specified bank account during settlement.
    The payment types must match the types assigned to the bank account.
    Location
    Route payments based on the location of the worker.
    This option applies to payroll payments only.
    Greater Than Amount
    Expense account payments greater than the amount you enter require payment approval.
    Run Calculation Criteria
    When the calculation returns a value of
    true
    , the settlement process uses the designated source bank account. When you change the bank routing rule, rerun the calculation details.
    This option applies to payroll payments only.
    Payee Settlement Bank Country
    Route payments based on the country for the settlement bank account of the payee. Example: You can pay workers using source bank accounts located in their respective countries.
    This option only applies to these payment types:
    • Credit card.
    • Direct debit.
    • Direct deposit.
    • EFT.
    • Wire.
    Currency
    The currency is based on the transaction currency of the payment. The bank account you route to must accept this currency.
    Bank Routing Code
    Route payments based on the bank routing code on:
    • Miscellaneous payment requests.
    • Supplier invoices.
    • Supplier invoice adjustments.
    On Behalf of Company for the Payment
    Define a rule for the settlement company to make payments from a specific bank account on behalf of its affiliate companies.
Settle payments.