How do I set up a Beneficiary?

iBusiness Banking

A Beneficiary is a person or a legal entity/company that you designate to receive funds in payment for the exchange of goods and/or services. 

Go to the Payments tab / Payments Management. Click on Beneficiaries and select either Domestic or International. 

Make sure you have the Account Details/IBAN for the receiver account.

Enter the Beneficiary details and follow the onscreen instructions to Authorise or Save for Authorisation.

A beneficiary that has been saved for authorisation or requires a second authorisation in the Beneficiary Management screen by selecting the Beneficiary and clicking Authorise,

You will be prompted to confirm the request using your Digipass.

Please note, when creating a Beneficiary to make an International Payment within the SEPA zone, the BIC will be added automatically based on the Beneficiary IBAN entered. If a BIC cannot be found for the IBAN entered, you will then be prompted to enter the corresponding BIC.

When creating a Beneficiary to make a payment outside the SEPA zone, the required account details are specific to the country you are paying.

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