Bank Transfer

Magento allows you to accept payment that is transferred from a customer’s bank account and deposited into your merchant bank account.

Bank Transfer Payment Bank Transfer Payment

To configure bank transfer payments:

  1. On the Admin sidebar, tap Stores. Then under Settings, choose Configuration.

  2. In the panel on the left, under Sales, choose Payment Methods.

  3. Expand the Bank Transfer Payment section. Then, do the following:

    • To activate bank transfers, set Enabled to “Yes.”

    • Enter a Title to identify the Bank Transfer Payment method during checkout.

    • Set New Order Status to “Pending” until payment is authorized.

    • Set Payment from Applicable Countries to one of the following:

      All Allowed Countries Customers from all countries specified in your store configuration can use this payment method.
      Specific Countries After choosing this option, the Payment from Specific Countries list appears. Hold down the Ctrl key and select each country in the list where customers can make purchases from your store.
    • Enter the Instructions your customers must follow to set up a bank transfer. Depending on the country where your bank is located and the requirements of the bank, you might need to include the following information:

      • Bank account name
      • Bank account number
      • Bank routing code
      • Bank name
      • Bank address
    • Set Minimum Order Total and Maximum Order Total to the amounts required to qualify to use this payment method.

      An order qualifies if the total falls between, or exactly matches, the minimum or maximum total values.

  4. Enter a Sort Order number to determine the position of Bank Transfer in the list of payment methods during checkout. (0 = first, 1 = second, 2 = third, and so on.)

  5. When complete, tap  Save Config .