Submit a ticket My Tickets
Welcome
Login

How to validate the beneficiary when making international payments on iBusiness Website? Print

How to validate the beneficiary when making international payments on iBusiness Website?

Suman Kumar Choudhary

Modified on: Fri, 14 Feb 2025 at 5:30 PM

Important Notes:

  • When initiating an international payment to beneficiary for India and the US, you can benefit from enhanced security capabilities of validating the beneficiary account details
  • User permissions should be in place to make international payment. If not, contact your Corporate Administrator

 

For existing beneficiary

 

Step 1: Initiating beneficiary validation 

  • Login to the iBusiness Website
  • Select "iPay” from the menu options at the left panel on the homepage and go to “Transfers – Initaite Transfer – On Screen – Transfer Type - International” 
  • From Maker – Landing Page, the user can choose an existing beneficiary to initiate international payment. 
  • Choose the existing beneficiary details on the initiation screen 
  1. In case the beneficiary country selected is ‘India’ or ‘United States’ the ‘Validate details’ button is provided to validate the beneficiary account
  2. Click on the ‘Validate details’ button.

 

Step 2: Display of Beneficiary validation result and submission

  • The beneficiary validation result is displayed along with the Account status, Name match as per beneficiary bank and Name as per beneficiary bank’s records.

 

Note: For US, only Account Status is provided.

 

 

  • Click on Proceed to enter the transfer details 

 

  • Click on the “Proceed” button at the bottom of the screen to continue
  • Beneficiary validation result is displayed on the Summary screen 

 

  • Once details are confirmed and validated, the user can click on “Proceed” button at authorize the payment

 

Step 3: Approval 

  • The request initiated by Maker is forwarded to Checker for authorisation.
  • The beneficiary validation result is displayed along with the Account status, Name match as per beneficiary bank and Name as per beneficiary bank’s records.

 

For new beneficiary

 Step 1: Initiating beneficiary validation 

  • Login to the iBusiness Website
  • Select "iPay” from the menu options at the bottom of the dashboard and go to “Transfers – Initaite Transfer – On Screen – Transfer Type - International” 
  • From Maker – Landing Page, the user can add a new beneficiary to initiate international payment. 
  • Enter the beneficiary details on the initiation screen 
  1. Select the Beneficiary type from the available list 
  2. Enter the beneficiary’s name 
  3. Select the Country and provide beneficiary account number and routing code
  4. In case the beneficiary country selected is ‘India’ or ‘United States’ the ‘Validate details’ button is provided to validate the beneficiary account
  5. Click on the ‘Validate details’ button.

 

 

Step 2: Display of Beneficiary validation result and submission

  • The beneficiary validation result is displayed along with the Account status, Name match as per beneficiary bank and Name as per beneficiary bank’s records 

 


  • Click on Proceed to enter the transfer details 

 


  • Click on the “Proceed” button at the bottom of the screen to continue to see transaction summary

  • Beneficiary validation result is displayed on the Summary screen 
  • Once details are confirmed and validated, the user can click on “Proceed” button at the bottom of the screen to complete the journey

 

  

Step 3: Approval 

  • The request initiated by Maker is forwarded to Checker for authorisation.
  • The beneficiary validation result is displayed along with the Account status, Name match as per beneficiary bank and Name as per beneficiary bank’s records.

Note:

  1. Response is based on Receiver's Bank Responding Capability
  2. If Account is Operative: User may or may not get Name Match Types (i.e Full Name Match, Name does not Match, Partial Name Match etc.)
  3. For Account is Closed, Incorrect Account number and Name does not match response, transaction will not be allowed to proceed

Did you find it helpful? Yes No

Send feedback
Sorry we couldn't be helpful. Help us improve this article with your feedback.