Beneficiaries
This screen provides a list of beneficiaries that have been created, and allows you to view further details of each beneficiary, or make a payment to a beneficiary. The beneficiaries screen is selectable from the Intl. Payments/RTGS menu.
A beneficiary is the person/business who is the recipient of the funds for an International Payment.
Please note that if an International Payment has been completed with a beneficiary that has not been used before, this beneficiary will not appear on the Beneficiaries tab until the relevant International Payment has been completed.
The beneficiaries table displays the following information:
- Name – personalised name that you have defined for the beneficiary
- Country – the country where the beneficiary’s account is located
- Currency – the currency used to pay the beneficiary
- Bank Account Details – the account identifier for the beneficiary. The most common type of account identifier is the IBAN (International Bank Account Number). IBAN is an international standard for identifying bank accounts across national borders and used for many countries including the European Union, eg British IBAN: GB35MIDL40253432144670. Please note that IBAN is not used by all countries and other Account Identifiers do exist. You can obtain the IBAN or other Account Identifier from your beneficiary.
- Bank Details – the bank identifier for the beneficiary. The most common National Code type is the BIC (Bank Identifier Code) also known as a SWIFT code. BIC is an alpha numeric code which is used to identify banks around the world. It is either 8 or 11 characters long, eg QBANAU4B. Please note that a BIC is not used by all countries and other National Code types do exist. You can obtain the BIC or other National Code from your beneficiary.
By clicking on the Action menu for the relevent beneficiare entry the following actions are available:
Beneficiary Actions Available:
Button
Action
Pay Beneficiary
Create a new International Payment using the details of this beneficiary
Delete
A pop-up box will display asking you to confirm whether you would like to delete this beneficiary