SCENARIO:
Using custom Role, user encounters error (Permission Violation : You need the 'Custom Record Types' permission to access this page. Please contact your account Administrator) when clicking New Entity Bank Details button under Vendor record > Bank Payment Details tab.
SOLUTION:
1. Using an Administrator role, navigate to Setup > Users/Roles > Manage Roles
2. Edit Custom Role being used
3. Under the Permissions tab > Setup subtab > add Custom Record Types and set Level to View
4. Click Save.