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How to Register a Beneficiary for Local Bank Payments? Print

Log in from the User Token.

Step 1: Click on the Transact Tab in the top Menu.

  • Click on Beneficiary Maintenance>> Add Beneficiary option on the left side menu.
  • Select CBD Domestic Transfer Beneficiary as the transaction type then click on Add Beneficiary.

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

  • Select Individual if you're paying an individual account or select company if paying a corporate/business account.

Step 3: After entering the IBAN number, click on Validate IBAN to populate the bank details.

  • Beneficiary Bank Info will reflect automatically.
  • Review the details and click on Submit.

Step 4: Enter the PIN + RSA Token and click Submit.

  • The approval process will depend on the setup done by iBusiness System Administrator.
  • You can monitor the request under the Queue tab.
  • Once the beneficiary registration is approved, you can proceed with the payment.

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