How to Make an International Bank Transfer with a Treasury Deal Rate in Next Gen CIB? Print

Overview:

This guide provides step-by-step instructions for initiating a Single International Transfer in Next Gen CIB using the iBusiness platform.

Use this process for:

• Cross-border payments
• International beneficiary transfers
• Foreign currency payments

Step 1: Navigate to International Transfers

1. Log in to iBusiness.
2. Navigate to: Payment & Transfers > Transfers > Initiate Transfer

Step 2: Select Transfer Type

Select Single Transfer.

Choose International Transfer as the transfer type.

Step 3: Select or Add Beneficiary

Existing Beneficiary

• Use the search bar to locate an existing beneficiary.

New Beneficiary

You can manually add a new beneficiary by entering

• Individual beneficiary details

• Company beneficiary details

Complete the required transfer information:

Debit Account: The bank account from which the money will be deducted for the transfer.

Charges Account: The account that will be used to pay the transfer fees or bank charges. This can be the same as the debit account or a different account.

Transfer Amount: The amount of money you want to send to the beneficiary. (Example: AED 5,000.00)

Currency: The currency in which the transfer will be made. (Example: AED, USD, EUR, GBP).

Transfer Charges: Indicates who will bear the transfer fees. 

• OUR: Sender pays all charges
• BEN:  Beneficiary pays all charges
• SHA:  Charges are shared between sender and beneficiary

Customer Reference Number: a unique number assigned to the customer 

Payment Date: The date on which the transfer will be processed or sent.

Purpose of Payment: The reason for sending the money, often required for compliance and regulatory purposes.

(Example: Computer Services, Rent Payments, Air Transport, Supplier Payment, etc...)

Payment Details: Additional information or remarks related to the payment that may be visible to the beneficiary.

Once completed, click Continue.

Step 5: Review and Submit

• Review all transfer details carefully.
• Accept the Terms and Conditions.
• Click Submit.

Note: The cut-off time for International Payments

To view the cut-off times, click on the link below to see the complete table of cut-off times. Transfers received after cut-off times will be processed on the next business day.

Step 6: Authenticate the Request

Complete authentication using one of the following methods:

Mobile App Authentication

• Approve the request via the iBusiness mobile app notification
• Use biometric or device verification

Google Authenticator

• Enter the One-Time Password (OTP) generated from the app

Once authenticated successfully, a confirmation screen with a reference number will be generated.

Step 7: Approval (If Maker–Checker is Enabled)

If a Maker–Checker setup is configured:

1. The request is routed to a Checker/Approver.
2. The Approver must:
   • Log in to iBusiness
   • Navigate to Transactions Hub > Pending Your Authorizations
3. Locate the transaction under:
   • International Transfer
4. Review the request and select:
   • Approve
   • Reject

Support Notes / Best Practices

• Verify beneficiary details before submission
• Ensure the correct transfer currency is selected
• Confirm sufficient available balance before initiating the transfer
• Validate SWIFT/BIC and account information carefully
• Track the generated reference number for support and audit purposes

Note: The cut-off time for International Payments