How to Create a local Standing Order on Next Gen CIB? Print

Use this guide to set up a recurring transfer local accounts in Next Gen CIB.

Step 1: Start a transfer

1. Log in to iBusiness
2. Navigate to:
    Payments & Transfers ➜ Transfers
3. Click Initiate Transfer

Step 2: Select standing order type

1. Click Standing Orders
2. Select Local Standing order 

Step 3: Beneficiary details

Option 1: Search Existing Beneficiaries

1. Use the search bar and search by name, IBAN, account or card number
2. Select the beneficiary
3. Click Proceed 

Option 2: Enter Details Manually

1. Select the beneficiary category (Individual or Company)
2. Enter beneficiary details 
3. Enter the beneficiary's IBAN.
4. Click Validate.
5. The system will verify the IBAN and retrieve the beneficiary bank details.

When validation is successful, a confirmation message will be displayed indicating that the bank identifier has been verified.

Step 4: Transfer Details

1. Fill in all mandatory fields
2. Schedule the period 

Complete the following fields to proceed with the transfer:

• Debit Account – Select the account from which the funds will be deducted.
• Charges Account – Select the account that will be used to pay any applicable transfer charges (if different from the debit account).
• Transfer Amount – Enter the amount you wish to transfer.
• Transfer Charges– Choose the charge bearer option: 
  • OUR – Sender pays all charges.
  • SHA – Charges are shared between sender and beneficiary.
  • BEN – Beneficiary bears all charges.
• Customer Reference Number – Enter a reference number for your records and future tracking of the transaction.
• Purpose of Payment – Choose or enter the reason for the transfer (e.g., salary, invoice payment, personal transfer).
• Payment Details – Provide additional information related to the payment, such as invoice numbers or payment descriptions.
• Save Draft: this will save the transfer for later use. Learn More 
• Schedule: 
  • Period – Select the transfer frequency (e.g., Daily, Weekly, Monthly).
  • Start Date – Specify when the recurring transfer should begin.
  • End Date – Specify when the recurring transfer should stop.

Once all mandatory fields have been completed, review the details carefully and click Continue to proceed with the transfer.

Step 5: Review and submit

1. Review the details on the Summary screen
2. Accept the Terms & Conditions
3. Click Submit

Step 6: Authenticate the transaction

• A notification will be sent to your paired mobile device
• Approve the request to proceed 

Step 7: Approval (if applicable)

• If your organization follows a maker/checker process, the request must be approved
• The approver should: 
  1. Log in to iBusiness
  2. Go to Transactions ➜ Pending Your Authorizations
  3. Locate the request under Within CBD Standing Order
  4. Review and Approve or Reject the request

Helpful Tips

• Double-check account details and schedule before submission
• Ensure sufficient balance for recurring transfers
• Submit standing orders in advance to avoid delays in execution
• Keep track of the request through the reference number and approval queue