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How to Amend the Payment Beneficiary Type? Print

To change the Payment Beneficiary Type, follow these steps:

  • Private Beneficiary - Choose Beneficiary Type as "Private" if the beneficiary is used exclusively by the User who created it. Other users will not be able to view/use beneficiaries for payments.
  • Public Beneficiary - If the beneficiary type is "Public", all users who have initiator access can view and use the beneficiary details for payment.

Log in from the User Token.

Step 1: Click on the Transact Tab in the Top Menu

  • Click on Beneficiary Mantenance >> Add Beneficiary option on the left side menu

Step 2: Select the Transaction Type and click on Search

  • The system will display the applicable Beneficiaries
  • You can also enter the Beneficiary Nick Name, Name or Beneficiary Account Number to narrow your search

Step 3: Select the Beneficiary and click on Edit to modify the Beneficiary Type

Step 4: Select the required Beneficiary Type from the dropdown and click on Save

 Step 5: Enter the PIN + RSA Token and click Submit

  • The approval process will depend on the setup done by the 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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