Overview
This guide provides step-by-step instructions for initiating a Single Local Transfer through the iBusiness Web Portal.
Use this option to make a one-time transfer to a beneficiary within the UAE.
Step 1: Navigate to Local Transfers
- Log in to iBusiness.
- Navigate to: Payment & Transfers ➜ Transfers ➜ Initiate Transfer
Select: Single Transfer ➜ Local Transfer
Step 2: Select or Add a Beneficiary
Existing Beneficiary
- Click Search Beneficiary.
- Use the search bar to locate the required beneficiary.
- Select the beneficiary from the list.
New Beneficiary
If the beneficiary has not been registered, you can add a new beneficiary by entering the required details.
Individual Beneficiary
Company Beneficiary
Validate Beneficiary
- Enter the beneficiary's IBAN.
- Click Validate.
- The system will verify the IBAN and retrieve the beneficiary bank details.
When validation is successful, a confirmation message will be displayed indicating that the bank identifier has been verified.
Transfer details
Complete the required transfer information:
- Debit Account: The bank account from which the money will be deducted for the transfer.
- Charges Account: The account that will be used to pay the transfer fees or bank charges. This can be the same as the debit account or a different account.
- Transfer Amount: The amount of money you want to send to the beneficiary. (Example: AED 5,000.00)
- Transfer Charges:Indicates who will bear the transfer fees.
- OUR: Sender pays all charges
- BEN: Beneficiary pays all charges
- SHA: Charges are shared between sender and beneficiary
- Customer Reference Number: a unique number assigned to the customer
- Payment Date: The date on which the transfer will be processed or sent.
- Purpose of Payment: The reason for sending the money, often required for compliance and regulatory purposes.
(Example: Computer Services, Rent Payments, Air Transport, Supplier Payment, etc...) - Payment Details: Additional information or remarks related to the payment that may be visible to the beneficiary.
- Save Draft: this will save the transfer for later use. Learn More
- Save Template: saving this transfer as a templet this will include the transfer details and beneficiary details. Learn More
- Supporting document: you will be able to attach up to 5 documents to your transfer request
Once completed, click Continue.
Step 4: Review and Submit
Review all details before submitting the transfer request.
Verify the following:
- Beneficiary details
- Beneficiary bank details
- Transfer amount
- Charges information
- Payment information
- Accept the Terms and Conditions.
- Click Submit.
Important: Future-Dated Transfers with Insufficient Funds
When submitting a future-dated transfer, the system allows the transaction to be created even if there are currently insufficient funds available in the selected debit account.
The system will display the following warning message:
Key Points
- You can submit a future-dated transfer even if there are currently insufficient funds in the selected debit account.
- The transfer will remain scheduled and will be processed on the selected payment date.
- Ensure sufficient funds are available in the account before the scheduled payment date.
- If funds are not available when the payment is due, the transfer may not be processed.
- This warning is informational only and does not prevent you from submitting the transfer request.
Best Practice: Ensure the required funds are credited to the account before the payment date to avoid delays or failed transactions.
Step 5: Authenticate the Request
Complete authentication using one of the following methods:
iBusiness App Authentication
- Approve the request through the iBusiness Mobile App.
- Complete biometric or device verification.
Google Authenticator
- Open the Google Authenticator application.
- Enter the generated One-Time Password (OTP).
Upon successful authentication, the transfer request will be submitted for processing.
Step 6: Approval (If Maker–Checker Is Enabled)
If your organization uses a Maker–Checker setup:
- The request will be routed to a Checker/Approver.
- The Approver must:
- Log in to iBusiness
- Navigate to Transactions Hub ➜ Pending Your Authorizations
- Locate the transaction awaiting approval.
- Review the request and select: Approve or Reject
Note: The transaction type may appear according to the configured local transfer service.
Support Notes / Best Practices
- Verify beneficiary details before submitting the transfer.
- Ensure the correct debit account and charges account are selected.
- Review the transfer amount and payment date carefully.
- Select the appropriate charge method (OUR, BEN, or SHA) based on business requirements.
- Keep a record of the generated reference number for tracking and support purposes.
- Follow Maker–Checker approval procedures where applicable.