How to Register a Beneficiary for International Bank Payments in iBusiness Next Gen? Print

Log in to iBusiness

Step 1: Click on iPay > Beneficiary Management > Create Beneficiaries.

Step 2: Select the Beneficiary Type and input the required details marked with an asterisk

• Select Individual if you're paying an individual account and select company if paying a corporate/business account
• Once done, click on Proceed

• After entering the account/IBAN details, click on Bank search to populate the beneficiary bank information

Step 3: Enter the beneficiary SWIFT code in the BIC code field and click Search

• You can also enter the Bank Name, City, Country and Branch to narrow your search
• Select the Beneficiary Bank to populate the bank details
• The page will automatically go back to the original beneficiary registration screen
• After entering data in all the required fields, click on Submit

• After verifying the details, click on Proceed

Step 4: Authentication via paired device to proceed.

• You will receive a notification on your mobile device to authenticate the transaction.
• Once authenticated, you will be navigated to the confirmation screen with a reference number generated.

Step 5:  In the case of the maker/checker, the request is required to be approved by Checker/Approver before it reaches the bank for completion.

• Post Initiating the request, it will move to the Approvers queue for action.
• The Approver should log in to iBusiness and click on the Transactions Tab and go to Pending your Authorizations. 
• The Pending items for the action will be available under transaction type Create International Transfer Beneficiary.
• Approver can review the details and act (Approve/Reject) on the request initiated.