Initiating an International Bank Transfer – Next Gen CIB (iBusiness) Print

Overview

This guide provides step-by-step instructions for initiating a Single International Transfer through the iBusiness Web Portal.

Use this transfer type for:

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

Step 1: Navigate to International Transfers

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

Step 2: Select Transfer Type

1. Select Single Transfer.
2. 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 

Validate the Bank Details 

If you are creating a new beneficiary, the beneficiary's banking details must be validated before you can proceed with the transfer.

1. Enter the beneficiary's IBAN number 
2. Click Validate.
3. The system will retrieve and display the beneficiary bank details.
4. Review and confirm the following information: 
   • Bank Name
   • SWIFT/BIC Code
   • Branch Information
   • Country
   • Beneficiary Account Details

1. You will need to click Validate Details to match them with what you’ve write in the beneficiary details. 

1. When validation is successful, a confirmation message will be displayed indicating that the bank identifier has been validated. 
2. If the displayed information is correct and the validation is successful, click Continue.

Transfer 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.
• Save Draft: this will save the transfer for later use. Learn More 
• Save Template: saving this transfer as a templet this will include the transfer details and beneficiary details. Learn More
• Supporting document: you will be able to attach up to 5 documents to your transfer request

• Equivalent Amount (Optional): Displays the estimated value of the transfer amount in your account currency based on the current exchange rate. This helps you understand the approximate amount that will be debited from your account or compare the transfer value in your preferred currency.

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.

Important: Future-Dated Transfers with Insufficient Funds

When submitting a future-dated transfer, the system allows the transaction to be created even if there are currently insufficient funds available in the selected debit account.

The system will display the following warning message:

Key Points

• You can submit a future-dated transfer even if there are currently insufficient funds in the selected debit account.
• The transfer will remain scheduled and will be processed on the selected payment date.
• Ensure sufficient funds are available in the account before the scheduled payment date.
• If funds are not available when the payment is due, the transfer may not be processed.
• This warning is informational only and does not prevent you from submitting the transfer request.

Best Practice: Ensure the required funds are credited to the account before the payment date to avoid delays or failed transactions.

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