Factor Arrangements - Best Practice

Summary

Supplier asking our AP team to send all their payments to Factor's bank account

Content

Some of our Suppliers have factoring arrangement with the same bank. We are required to send payments for multiple vendors to the same factor's bank account. What is the best to accomplish this?

1. Add Factor bank a/c to one of the suppliers and assign the bank account to other vendors who use the same bank/bank account ?

2. Should we consider using the Third party payments functionality ?

Thank you,

Siva