About standard and preferred banks

The two bank types are added and displayed differently:

• A standard bank is a bank that is pre-loaded into the system.
• A preferred bank is a bank that has been:
  • Selected from the standard bank list and added to the preferred bank list
  • Manually entered by you or another company user

Preferred banks enable you to customize the list of banks commonly used in your company's daily business transactions. When you create payments, recipients, or templates, you can use this list to select bank information rather than re-entering the information each time it is requested.

If a bank is not available on the standard bank list, you can create a new preferred bank.