Do You Need to Put Bank Details On Your Invoices?

In today’s digital world, businesses need to think carefully about how they use their data. It’s a challenging world for small businesses - and even big companies have to rethink how they operate. With this in mind, you may be wondering if you need to put bank details on your invoices. However, in some situations, it might make sense not to include this information on your invoice. The decision will depend on your business and personal circumstances

Importance of Bank Info On an Invoice

You may not realize it, but the bank details on your invoices are crucial. Invoices are legally binding contracts. This means that you can’t settle your invoices with anything other than cash. So, if a customer chooses to pay you for their services or goods, you have no legal obligation to accept them. To add to the confusion, the courts often interpret the invoice as a sales contract. This means that if a customer doesn’t pay you, you can take them to court for breach of contract. You may not be aware of it, but if you don’t include bank details on your invoice, it’s like saying, "Pay me in love." So, if you don’t include this information, you’re opening yourself up to all sorts of problems. 

When It's Unnecessary to Include Bank Information on an Invoice 

You don’t need to include the bank details on your invoice if you’re:

• Dealing with direct payments
• Get payment from government agencies

If a customer is paying you directly, you don’t need to include your bank details on the invoice. This is because you’re not relying on your customers to pay you. However, if you’re using an intermediary like PayPal or another third-party payment service, you do need to include your bank details on the invoice. For example, if you’re dealing with utility companies or local governments, they’ll often pay you directly. If this is the case, you don’t need to include your bank details on the invoice.

If you're wondering if you need to put bank details on your invoices, the answer will depend on your business and personal circumstances. In some situations, it might make sense not to include this information on your invoice. To get you started, you can also lookat our invoice template. With this in mind, we've put together a blog post looking at when it makes sense not to include bank details on invoices. You can also check out our online invoice generator and invoice template to help you get started. As a starting point, you may also look at our online invoice maker and invoice template.

What Bank Information Must Be Included on an Invoice?

There is no law that governs what information you need to put on an invoice. However, it makes commercial sense to include your bank details on the invoice if you’re accepting payment by bank transfer. This is because it makes the payment process much simpler for both you and your customer. It’s also a good idea to include the SWIFT code of your bank. This is because it makes the payment process much quicker. If you don’t include this information on the invoice, it’ll take your customer longer to get the money in their bank account. This can cause problems for your cash flow if you have to wait for the payment to go through.