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Setting Up Beneficiaries: A Guide to Currency Requirements
Setting Up Beneficiaries: A Guide to Currency Requirements

This guide outlines specific requirements for various currencies on our platform to ensure smooth and efficient transactions.

Daniel Diaz avatar
Written by Daniel Diaz
Updated yesterday

When conducting business, ensuring smooth and efficient transactions with your beneficiaries is crucial. By following the guidelines outlined in this article, you can add beneficiaries accurately and quickly, saving you valuable time and effort.

This guide details the specific requirements for setting up beneficiaries based on their currency. It's important to note that these instructions are for local payments. For international payments, always confirm the necessary information with your beneficiary to avoid any delays or issues.

Beneficiary Setup - Quick Tips

  • Account details:

    • This details the beneficiary’s account holder name, currency and in which country the account is held.

  • Email (optional):

    • If you add your supplier's email there, they will receive an email confirmation every time you pay them.

  • Permanent payment reference:

    • This information will appear on all payment references. This is the best place to add information needed for currencies with specific requirements (like tax codes or bank addresses).

  • When inputting bank details, start by account number and sort code/equivalent first if given the option. If all the information is entered correctly, the SWIFT code should automatically populate.

Currency requirements

Different currencies and countries have varying requirements due to economic conditions, monetary policies, legal frameworks, political stability, cultural attitudes, trade relationships, and technological development. These factors influence compliance mandates and transaction processes, reflecting the intricate landscape of global finance and the need for diverse regulatory approaches.

Therefore, we recommend including the below datapoints when creating beneficiaries:

GBP - British Pound

  1. Beneficiary Name

  2. Beneficiary Bank Details:

    • IBAN

    • SWIFT Code

    • Account Number

    • Sort Code

  3. Beneficiary City

EUR - Euro

  1. Beneficiary Name

  2. Beneficiary Bank Details:

    • IBAN

    • SWIFT Code

  3. Beneficiary City

AUD - Australian Dollar

  1. Beneficiary Name

  2. Beneficiary Bank Details:

    • Account Number

    • BSB

    • SWIFT Code

  3. Full Beneficiary address

CAD - Canadian Dollar

  1. Beneficiary Name

  2. Beneficiary Bank Details:

    • Account number, formatted:

      1. 5 digit branch code + account number

    • Transit Number (9 digits)

      1. 0YYYXXXXX

        1. 0YYY - institution number

        2. XXXXX - branch code

    • SWIFT Code

  3. Full Beneficiary address

USD - US Dollar

  1. Beneficiary Name

  2. Beneficiary Bank Details:

    • Account Number

    • ABA/FW (9 digits)

    • SWIFT Code

  3. Beneficiary City

JPY - Japanese Yen

  1. Beneficiary Name

  2. Beneficiary Bank Details:

    • Account Number

    • SWIFT Code

  3. Beneficiary City

NZD - New Zealand Dollar

  1. Beneficiary Name

  2. Beneficiary Bank Details:

    • Account Number

    • Local Clearing Code (Sort Code) (6 digits)

    • SWIFT Code

  3. Beneficiary City

CHF - Swiss Franc

  1. Beneficiary Name

  2. Beneficiary Bank Details:

    • IBAN

    • SWIFT Code

  3. Beneficiary City

SEK - Swedish Krona

  1. Beneficiary Name

  2. Beneficiary Bank Details:

    • IBAN

    • SWIFT Code

  3. Beneficiary City

NOK - Norwegian Krone

  1. Beneficiary Name

  2. Beneficiary Bank Details:

    • IBAN

    • SWIFT Code

  3. Beneficiary City

AED - UAE Dirham

  1. Beneficiary Name

  2. Beneficiary Bank Details:

    • IBAN

    • SWIFT Code

  3. Purpose of Payment Code:

  4. Beneficiary City

AOA - Angolan Kwanza

  1. Beneficiary Name

  2. Permanent payment reference:

    • Purpose of Payment: Please specify one of the following:

      • Payment for goods

      • Payment for services

      • Charitable aid

      • Salary payment

    • Beneficiary Bank address

  3. Beneficiary Bank Details:

    • IBAN

    • SWIFT Code

  4. Beneficiary City

BBD - Barbadian Dollar

  1. Beneficiary Name

  2. Beneficiary Bank Details:

    • Account Number

    • SWIFT Code

  3. Full Beneficiary Address

BDT - Bangladeshi Taka

  1. Beneficiary Name

  2. Permanent payment reference:

    • Beneficiary bank address

    • Purpose of Payment: Please specify one of the following:

      1. Payment for goods

      2. Payment for services

      3. Charitable aid

      4. Salary payment

  3. Beneficiary Bank Details:

    • Account Number

    • SWIFT Code

  4. Beneficiary full address

BGN - Bulgarian Lev

  1. Beneficiary Name

  2. Beneficiary Bank Details:

    • IBAN

    • SWIFT Code

  3. Beneficiary City

BHD - Bahraini Dinar

  1. Beneficiary Name

  2. Beneficiary Bank Details:

    • IBAN

    • SWIFT Code

  3. Beneficiary City

BSD - Bahamian Dollar

  1. Beneficiary Name

  2. Permanent payment reference:

    • Purpose of Payment: Please specify one of the following:

      • Payment for goods

      • Payment for services

      • Charitable aid

      • Salary payment

    • Beneficiary Bank address

  3. Beneficiary Bank Details:

    • Account Number

    • SWIFT Code

  4. Beneficiary City

BWP - Botswana Pula

  1. Beneficiary Name

  2. Beneficiary Bank Details:

    • Account Number

    • SWIFT Code

  3. Beneficiary City

CLP - Chilean Peso

  1. Beneficiary Name

  2. Beneficiary Bank Details:

    • Beneficiary Document Number (RUT / RUN)

    • Account Number

    • SWIFT Code

  3. Beneficiary City

CNY - Chinese Yuan

  1. Beneficiary Name

  2. Beneficiary Bank Details:

    • Account Number

    • Sort Code (CNAPs Code)

    • Purpose of Payment: Please specify one of the following:

      • Payment for goods

      • Payment for services

      • Charitable aid

      • Salary payment

    • SWIFT Code

    • Purpose Code

  3. Beneficiary City

CZK - Czech Koruna

  1. Beneficiary Name

  2. Beneficiary Bank Details:

    • IBAN

    • SWIFT Code

  3. Beneficiary City

DKK - Danish Krone

  1. Beneficiary Name

  2. Beneficiary Bank Details:

    • IBAN

    • SWIFT Code

  3. Beneficiary City

EGP - Egyptian Pound

  1. Beneficiary Name

  2. Permanent payment reference:

    • Purpose of Payment: Please specify one of the following:

      • Payment for goods

      • Payment for services

      • Charitable aid

      • Salary payment

  3. Beneficiary Bank Details:

    • IBAN

    • SWIFT Code

  4. Beneficiary City

ETB - Ethiopian Birr

  1. Beneficiary Name

  2. Permanent payment reference:

    • Purpose of Payment: Please specify one of the following:

      • Payment for goods

      • Payment for services

      • Charitable aid

      • Salary payment

    • Beneficiary bank branch name

  3. Beneficiary Bank Details:

    • Account Number

    • SWIFT Code

  4. Beneficiary City

FJD - Fijian Dollar

  1. Beneficiary Name

  2. Beneficiary Bank Details:

    • Account Number

    • SWIFT Code

  3. Beneficiary City

GHS - Ghanaian Cedi

  1. Beneficiary Name

  2. Permanent payment reference:

    • Purpose of Payment: Please specify one of the following:

      1. Payment for goods

      2. Payment for services

      3. Charitable aid

  3. Salary payment

  4. Beneficiary Bank Details:

    • Account Number

    • SWIFT Code

  5. Beneficiary City

GYD - Guyanese Dollar

  1. Beneficiary Name

  2. Permanent payment reference:

    • Purpose of Payment: Please specify one of the following:

      • Payment for goods

      • Payment for services

      • Charitable aid

      • Salary payment

    • Transit Code (8 digits):

  3. Beneficiary Bank Details:

    • Account Number

    • SWIFT Code

  4. Beneficiary City

HKD - Hong Kong Dollar

  1. Beneficiary Name

  2. Beneficiary Bank Details:

    • Account Number

    • SWIFT Code

  3. Beneficiary City

HUF - Hungarian Forint

  1. Beneficiary Name

  2. Beneficiary Bank Details:

    • IBAN

    • SWIFT Code

  3. Beneficiary City

ILS - Israeli New Shekel

  1. Beneficiary Name

  2. Beneficiary Bank Details:

    • IBAN

    • SWIFT Code

  3. Beneficiary City

INR - Indian Rupee

  1. Beneficiary Name

  2. Purpose of Payment:

    • Payment for goods

    • Payment for services

    • Charitable aid

    • Salary/payroll

  3. Beneficiary Bank Details:

    • Account Number

    • Sort Code (IFSC)

    • SWIFT Code

    • Permanent Payment Reference (commercial purpose)/FCRA Code (charitable aid)

  4. Full Beneficiary Address & phone number

JMD - Jamaican Dollar

  1. Beneficiary Name

  2. Permanent payment reference:

    • Purpose of Payment: Please specify one of the following:

      • Payment for goods

      • Payment for services

      • Charitable aid

      • Salary payment

  3. Beneficiary Bank Details:

    • Account Number

    • SWIFT Code

  4. Beneficiary City

JOD - Jordanian Dinar

  1. Beneficiary Name

  2. Permanent payment reference:

  3. Beneficiary Bank Details:

    • IBAN

    • SWIFT Code

  4. Beneficiary City

KES - Kenyan Shilling

  1. Beneficiary Name

  2. Beneficiary Bank Details:

    • Account Number

    • Reason for Payment: Please specify one of the following:

      • Payment for goods

      • Payment for services

      • Charitable aid

      • Salary payment

    • SWIFT Code

  3. Beneficiary City

KWD - Kuwaiti Dinar

  1. Beneficiary Name

  2. Beneficiary Bank Details:

    • IBAN

    • SWIFT Code

  3. Beneficiary City

KYD - Cayman Islands Dollar

  1. Beneficiary Name

  2. Beneficiary Bank Details:

    • Account Number

    • SWIFT Code

  3. Beneficiary City

LAK - Lao Kip

  1. Beneficiary Name

  2. Beneficiary Bank Details:

    • Account Number

    • SWIFT Code

  3. Beneficiary City

LKR - Sri Lankan Rupee

  1. Beneficiary Name

  2. Beneficiary Bank Details:

    • Account Number

    • Reason for Payment: Please specify one of the following:

      • Payment for goods

      • Payment for services

      • Charitable aid

      • Salary payment

    • SWIFT Code

  3. Beneficiary City

LSL - Lesotho Loti

  1. Beneficiary Name

  2. Permanent payment reference:

    • Purpose of Payment: Please specify one of the following:

      • Payment for goods

      • Payment for services

      • Charitable aid

      • Salary payment

  3. Beneficiary Bank Details:

    • Account Number

    • SWIFT Code

  4. Beneficiary City

MAD - Moroccan Dirham

  1. Beneficiary Name

  2. Permanent payment reference:

    • Purpose of Payment: Please specify one of the following:

      • Payment for goods

      • Payment for services

      • Charitable aid

      • Salary payment

  3. Beneficiary Bank Details:

    • RIB (24 digits)

    • SWIFT Code

  4. Beneficiary City

MGA - Malagasy Ariary

  1. Beneficiary Name

  2. Permanent payment reference:

    • Purpose of Payment: Please specify one of the following:

      • Payment for goods

      • Payment for services

      • Charitable aid

      • Salary payment

  3. Beneficiary Bank Details:

    • IBAN

    • SWIFT Code

  4. Beneficiary City

MUR - Mauritian Rupee

  1. Beneficiary Name

  2. Permanent payment reference:

    • Purpose of Payment: Please specify one of the following:

      • Payment for goods

      • Payment for services

      • Charitable aid

      • Salary payment

  3. Beneficiary Bank Details:

    • IBAN

    • SWIFT Code

  4. Beneficiary City

MWK - Malawian Kwacha

  1. Beneficiary Name

  2. Beneficiary Bank Details:

    • Account Number

    • SWIFT Code

  3. Beneficiary City

MXN - Mexican Peso

  1. Beneficiary Name

  2. Beneficiary Bank Details:

    • CLABE (18 digits)

    • SWIFT Code

  3. Beneficiary City

MZN - Mozambican Metical

  1. Beneficiary Name

  2. Permanent payment reference:

    • Purpose of Payment: Please specify one of the following:

      • Payment for goods

      • Payment for services

      • Charitable aid

      • Salary payment

  3. Beneficiary Bank Details:

    • IBAN

    • SWIFT Code

  4. Beneficiary City

NAD - Namibian Dollar

  1. Beneficiary Name

  2. Permanent payment reference:

    • Beneficiary bank address

  3. Beneficiary Bank Details:

    • Account Number

    • SWIFT Code

  4. Beneficiary City

OMR - Omani Rial

  1. Beneficiary Name

  2. Beneficiary Bank Details:

    • Account Number

    • SWIFT Code

  3. Beneficiary City

PGK - Papua New Guinean Kina

  1. Beneficiary Name

  2. Permanent payment reference:

    • Purpose of Payment: Please specify one of the following:

      • Payment for goods

      • Payment for services

      • Charitable aid

      • Salary payment

  3. Beneficiary Bank Details:

    • Account number

    • SWIFT Code

  4. Full Beneficiary address

PHP - Philippine Peso

  1. Beneficiary Name

  2. Permanent payment reference:

    • Purpose of Payment: Please specify one of the following:

      • Payment for goods

      • Payment for services

      • Charitable aid

      • Salary payment

  3. Beneficiary Bank Details:

    • Account Number

    • SWIFT Code

  4. Beneficiary City

PKR - Pakistani Rupee

  1. Beneficiary Name

  2. Permanent payment reference:

    • Beneficiary Document Type (NICOP / CNIC / Passport Number / NTN / Registration Number)

    • Beneficiary Document Number

    • Beneficiary bank branch and address

    • Beneficiary Contact Information

  3. Beneficiary Bank Details:

    • IBAN

    • Purpose of Payment: Please specify one of the following:

      • Payment for goods

      • Payment for services

      • Charitable aid

      • Salary payment

    • SWIFT Code

  4. Beneficiary City

PLN - Polish Zloty

  1. Beneficiary Name

  2. Beneficiary Bank Details:

    • IBAN

    • SWIFT Code

  3. Beneficiary City

QAR - Qatari Riyal

  1. Beneficiary Name

  2. Beneficiary Bank Details:

    • IBAN

    • SWIFT Code

  3. Beneficiary City

RON - Romanian Leu

  1. Beneficiary Name

  2. Beneficiary Bank Details:

    • IBAN

    • SWIFT Code

  3. Beneficiary City

RSD - Serbian Dinar

  1. Beneficiary Name

  2. Beneficiary Bank Details:

    • IBAN

    • SWIFT Code

  3. Beneficiary City

RWF - Rwandan Franc

  1. Beneficiary Name

  2. Permanent payment reference:

    • Purpose of Payment: Please specify one of the following:

      • Payment for goods

      • Payment for services

      • Charitable aid

      • Salary payment

    • Beneficiary Bank address

  3. Beneficiary Bank Details:

    • Account number

    • SWIFT Code

  4. Beneficiary City

SAR - Saudi Riyal

  1. Beneficiary Name

  2. Beneficiary Bank Details:

    • IBAN

    • SWIFT Code

  3. Beneficiary City

SGD - Singapore Dollar

  1. Beneficiary Name

  2. Beneficiary Bank Details:

    • Account Number

    • SWIFT Code

  3. Beneficiary City

SLE - Sierra Leonean Leone

  1. Beneficiary Name

  2. Permanent payment reference:

    • Purpose of Payment: Please specify one of the following:

      • Payment for goods

      • Payment for services

      • Charitable aid

      • Salary payment

  3. Beneficiary Bank Details:

    • Account Number

    • SWIFT Code

  4. Full Beneficiary address

SZL - Swazi Lilangeni

  1. Beneficiary Name

  2. Permanent payment reference:

    • Purpose of Payment: Please specify one of the following:

      • Payment for goods

      • Payment for services

      • Charitable aid

      • Salary payment

  3. Beneficiary Bank Details:

    • Account Number

    • SWIFT Code

  4. Full Beneficiary address

THB - Thai Baht

  1. Beneficiary Name

  2. Permanent payment reference:

    • Purpose of Payment: Please specify one of the following:

      • Payment for goods

      • Payment for services

      • Charitable aid

      • Salary payment

  3. Beneficiary Bank Details:

    • Account Number

    • SWIFT Code

  4. Full Beneficiary address

TND - Tunisian Dinar

  1. Beneficiary Name

  2. Beneficiary Bank Details:

    • IBAN

    • SWIFT Code

  3. Beneficiary City

TRY - Turkish Lira

  1. Beneficiary Name

  2. Beneficiary Bank Details:

    • IBAN

    • SWIFT Code

  3. Beneficiary City

TTD - Trinidad and Tobago Dollar

  1. Beneficiary Name

  2. Beneficiary Bank Details:

    • Account Number

    • SWIFT Code

  3. Beneficiary City

TZS - Tanzanian Shilling

  1. Beneficiary Name

  2. Permanent payment reference:

    • Purpose of Payment: Please specify one of the following:

      • Payment for goods

      • Payment for services

      • Charitable aid

      • Salary payment

    • Beneficiary Bank address

  3. Beneficiary Bank Details:

    • Account Number

    • SWIFT Code

  4. Beneficiary City

UGX - Ugandan Shilling

  1. Beneficiary Name

  2. Permanent payment reference:

    • Purpose of Payment: Please specify one of the following:

      • Payment for goods

      • Payment for services

      • Charitable aid

      • Salary payment

    • Beneficiary Bank address

  3. Beneficiary Bank Details:

    • Account Number

    • SWIFT Code

  4. Beneficiary City

XAF - Central African CFA Franc

  1. Beneficiary Name

  2. Permanent payment reference:

    • Purpose of Payment: Please specify one of the following:

      • Payment for goods

      • Payment for services

      • Charitable aid

      • Salary payment

  3. Beneficiary Bank Details:

    • Account Number (23 digits)

    • SWIFT Code

  4. Beneficiary City

XCD - East Caribbean Dollar

  1. Beneficiary Name

  2. Beneficiary Bank Details:

    • Account Number

    • SWIFT Code

  3. Full Beneficiary address

XOF - West African CFA Franc

  1. Beneficiary Name

  2. Permanent payment reference:

    • Purpose of Payment: Please specify one of the following:

      • Payment for goods

      • Payment for services

      • Charitable aid

      • Salary payment

  3. Beneficiary Bank Details:

    • Account Number (24 digits)

    • SWIFT Code

  4. Beneficiary City

ZAR - South African Rand

  1. Beneficiary Name

  2. Beneficiary Bank Details:

    • Account Number

    • Clearing Code

    • SWIFT Code

  3. Beneficiary City

ZMW - Zambian Kwacha

  1. Beneficiary Name

  2. Permanent payment reference:

    • Purpose of Payment: Please specify one of the following:

      • Payment for goods

      • Payment for services

      • Charitable aid

      • Salary payment

  3. Beneficiary Bank Details:

    • Account Number

    • SWIFT Code

  4. Beneficiary City

Summary table

Related Articles
INR requirements specific guidance
Adding beneficiaries from file
Tips on accurate beneficiary creation
Ebury's Multi Payment functionality
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