For any cross-border or foreign currency payments, where a deal has been booked with our Treasury Team, please follow the below steps:
Log in from the User Token.
Step 1: Click on the Transact Tab in the Top Menu
- Click on Remittance>> International Bank Transfer option on the left side menu
Step 2: Select the debit account, beneficiary type and click on the Search Beneficiary option
- If the beneficiary is not registered, follow this article:
- "How to Register A Beneficiary for International Bank Payments?"
- 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 click Submit
Step 4: The system will go back to the main 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:
- SHA - CBD Charges to Remitter
- OUR - Pay in Full (BNF)
- BEN - Deduct Charges from Amount
- If required, you can also attach a supporting document which will go to the authorizer/s by clicking on the Attach Document option
- If you need to save the beneficiary for future payments, tick the box under the Save Beneficiary option and select the beneficiary type as Public or Private
- Public Beneficiary will be available for all users while Private Beneficiary will only be available for the user who registered the beneficiary
- You can also make the payment future-dated by clicking the future date option and selecting the transaction date from the calendar
Step 4: Including your Treasury Deal Rate in the International Transfer
- If a special rate has been booked from our Treasury Team (through iBusiness, Email or Phone), this can be applied to the payment via iBusiness by following the below steps:
- Input the Transfer Amount & Currency
- Scroll down to Payment Details Section and click on "Search Deal" and select the relevant Deal Reference Number from the list
- Fill out the remaining transfer details as mentioned in Step 3
- Click on "Initiate" once done filling out the transaction details
Please note the following additional points when adding the Deal Rate:
- "Amount" & "Currency" details should match (and not exceed the limit) of the details of the deal booked with our Treasury Team
- Please note it will take a maximum of 2 business hours for the deal to become available on iBusiness once booked with our Treasury Team
- You will only be able to use an active Deal Rate, expired deals will not be available
Step 5: Review the details and click Confirm
Step 6: 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
Note: The cut-off time for International Payments is 4:00 PM