How to Configure Bank Transfer Payment Method in Magento 2

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Being one of the earliest payment methods, the Bank Transfer Payment Method is still a popular payment method for every purchase in the world. Therefore, it is clear that Magento 2 allows you to configure the Bank Transfer Payment Method in the admin interface. This payment method also has the feature to only permit customers from specific countries to use depending on the merchant’s bank location and requirement.

Bank Transfer Payment Method

3 Steps to Configure Bank Transfer Payment Method in Magento 2

Step 1: Open the Bank Transfer Payment Section
Step 2: Set options for Bank Transfer Payment Section
Step 3: Save the Bank Transfer Payment configuration

Step 1: Open the Bank Transfer Payment Section

On the Admin sidebar, click Stores > Settings > Configuration.
In the panel on the left, choose Sales > Payment Methods > Bank Transfer Payment.

Step 2: Set options for Bank Transfer Payment Section

In the Enabled field, pick “Yes” to activate the Bank Transfer Payment Method.
In the Title field, enter a new title to change or leave the default of “Bank Transfer Payment” to recognize the Bank Transfer Payment Method during checkout.
In the New Order Status field, set “Pending” for new orders to wait until receipt of payment is authorized by admin.
In the Payment from Applicable Countries field, choose “All Allowed Countries” to accept Bank Transfer Payment Method for customers from all countries specified in your store configuration or “Specific Countries” to approve this payment method for some definite countries which you select from the Payment from Specific Countries list.
In the Instructions field, enter guidance for the customer to make a Bank Transfer payment. You had better supply customers with the following information:
- Bank account name
- Bank account number
- Bank routing code
- Bank name
- Bank address
In the Minimum Order Total and Maximum Order Total fields, set the order amounts required to qualify for this payment method.
In the Sort Order field, enter a number to determine the position of Bank Transfer Payment in the list of payment methods that is shown during checkout (start from 0).

Step 3: Save the configuration

Click the Save Config button in the upper-right corner when you are done.
If you are notified to refresh the page cache, click the links in the notification, and follow the instructions.

Final words

Bank Transfer Payment Method in Magento 2 is essential with many online stores, as it still is a widely chosen payment option. It is also possible for you to restrict customers from certain locations to use this by following the above tutorial. Besides this, we also have the payment method configuration post series which you can check below. In case you have any problem, don’t hesitate to contact us.

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