Errors due to special characters in bank payment files

Summary

Errors due to special characters in bank payment files

Content

Frequently a special character is used in a payee name or address that causes the bank file to be rejected by the bank due to errors.  We have this situation with both foreign and domestic banks that we do business with. 

Does Oracle have a method to handle these special characters?

Does anyone else have this issue and how have you handled it?

We are trying to determine a best practice to address that will not require special coding for each and everyone of our payment formats.  Thank you.