For any cross-border or foreign currency payments, please follow these steps.
Log in to iBusiness.
Step 1: Click on iPay > Transfers > Initiate Transfer
- Select On Screen and Transfer Type as International and click on Proceed.
Step 2: Select the debit account, click on the Search Beneficiary option
- If the beneficiary is not registered, follow this article:
- You can also make a one-time payment by directly entering the beneficiary details without clicking Search/Add Beneficiary
Step 3: Enter the Beneficiary Name or Nick Name and click on Search.
- The system will display the list of registered beneficiaries.
- Select the beneficiary required and the system will fill all the beneficiary details.
- Click on Proceed
Step 4: The system will payment screen. You can proceed with entering the remaining required payment details.
- Transfer Currency should be a foreign currency.
- For AED cross border payments, Correspondent Bank/Intermediary Bank details are mandatory.
- Payment details should match with the corresponding Payment Type and should not be less than 10 characters.
- Payment details should also not contain Special Characters
- For Charge Type, refer to below:
- CBD Charges to Remitter (SHA)
- Pay in Full (BNF get full amount) (OUR)
- Deduct charges from Amount (BEN)
- If required, you can also attach a supporting document which will go to the authorizer/s by clicking on the Attach Document option
- You can also make the payment future-dated by clicking the future date option and selecting the transaction date from the calendar
- If a special rate is obtained from Treasury, enter the deal rate and deal amount in their respective fields and write the details under Special Instruction
- Click on Proceed once done filling out the transaction details
Step 5: Review the details and click Submit.
Step 6: 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 7: 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 International Transfer.
- Approver can review the details and act (Approve/Reject) on the request initiated.
Note: The cut-off time for International Payments is 4:00 PM