How to Cancel a Deal in iBusiness Next Gen ? Print

Overview:

This guide provides step-by-step instructions for cancelling a previously booked treasury deal through the iBusiness Web Portal.

The Deal Booking Maintenance service allows users to search for existing deals and submit a cancellation request for deals that are currently in Booked status.

Step 1: Access Service Requests

1. Log in to iBusiness.
2. Navigate to: Digital Service Hub ➜ Service Requests
3. Click Initiate a Request.

Step 2: Select Deal Booking Maintenance

1. Select Account Services.
2. Open the Preferential Deal for FX rates drop-down menu.
3. Select Cancel Preferential Deal for FX rate

Step 3: Select the Account

1. Select the account associated with the deal by: 
   • Choosing it from the Account drop-down list
   • Entering the account number manually
   • Using the search option to locate the account.

Step 4: Search for the Booked Deal

1. Open the Status drop-down menu.
2. Select Booked.
3. Click Search.

Step 5: Select the Deal to Cancel

1. The system will display all deals currently in Booked status.
2. Review the list of available deals.
3. Locate the deal you wish to cancel.
4. Click Cancel against the selected deal.

Step 6: Review and Submit

1. Review the deal details carefully on the Summary Review screen.
2. Confirm that the correct deal has been selected for cancellation.
3. Accept terms and conditions 
4. Click Submit to proceed.

Step 7: Authenticate the Request

Complete authentication using one of the following methods:

iBusiness App Authentication

• A notification will be sent to the registered iBusiness Mobile App.
• Review the request details.
• Approve the request using biometric or device authentication.

Google Authenticator

• Open the Google Authenticator application.
• Enter the generated One-Time Password (OTP).

Step 8: Confirmation

Once the request has been submitted successfully:

• A confirmation screen will be displayed.
• A unique reference number will be generated.
• The confirmation will include the date and time of submission.

Step 9: Approval (If Maker–Checker Is Enabled)

If your organization uses a Maker–Checker approval workflow:

1. The cancellation request will be routed to the designated Approver.
2. The Approver must: 
   • Log in to iBusiness
   • Navigate to Transactions Hub ➜ Pending Your Authorizations
3. Locate the request under: Service Requests
4. Review the request details.
5. Select: Approve or Reject

The deal cancellation request will only be processed after all required approvals have been completed

Support Notes / Best Practices

• Ensure the correct account is selected before searching for deals.
• Only deals with a Booked status can be selected for cancellation.
• Carefully verify the deal details before submitting the cancellation request.
• Retain the generated reference number for future tracking and support enquiries.
• If Maker–Checker controls are enabled, the deal will remain active until the request has been approved.