How can I add a new beneficiary?

How to add a new beneficiary, intermediary SWIFT, beneficiary email address, secondary beneficiary name, potential fraud notification & more

Blanca Suarez avatar
Written by Blanca Suarez
Updated over a week ago

1. How can I add a beneficiary?

If you wish to set up a payment after you have created the beneficiary, click here to see the video guide on how you can create a new payment.

When creating a beneficiary, make sure that the information you have is correct, complete and has been verified with your beneficiary. All the information must be provided by your beneficiary, so if you are missing something, please reach out to your beneficiary directly.

If you encounter any persistent error while filling in the information, please refer to the "Tips on accurate beneficiary creation" where we have compiled the most common issues. If the issue is not on this list, please contact operations via the instant messaging service

  • To add a new beneficiary, go to 'Beneficiaries'

  • Click on '+ Add beneficiary' and select 'Manually' in the drop-down menu.

    • Read here on how to create large amounts of beneficiaries at once.

  • Select the beneficiary's bank country and the currency in which your beneficiary's account is held from the dropdown menu.

  • Fill in the name of the account holder.

    • Special Characters are not allowed in any field. You can use points and commas. However, any other symbol won’t allow you to add the beneficiary. E.g.:

      • Change “&” for the word "and".

Optional information:

  • Alias: you can add an alias or a description to identify your beneficiary. This will be internal information and it will not be reflected in the payment instruction.

  • Email: add your beneficiary's email address (or addresses) and mark the box "Always send confirmation on payment execution" if you want to send them a notification upon payments' execution.

  • Permanent payment reference: a payment description that will appear on the beneficiary's statements of all the payments to this beneficiary.

  • After the information has been filled in, press continue.

  • When you select the beneficiary’s bank details 'country' and 'currency', the mandatory fields of the Bank Details section will become available for you to type the relevant information.

    • If you are missing a field, please reach out to your beneficiary.

Optional information:

  • Intermediary bank: if you have been provided with intermediary/correspondent details, please fill the information. We recommend adding only the SWIFT code of the intermediary.

  • Once the information has been completed, press 'Continue'.

  • Fill in the beneficiary details.

    • By default, the beneficiary country will match the beneficiary bank country. If it's different, select the correct one from the dropdown menu.

  • If you are adding the address of the beneficiary please, fill in all the details

Please note that discrepancies between the countries may require additional information.

Sometimes, the beneficiary's country may not be the same as where their bank account is located. In these cases, the platform will show an automatic message that suggests you to double-check the bank details with your beneficiary. Because of the increase in fraud cases, we always recommend double-checking the bank details with your beneficiary.

We strongly suggest that they are verified by phone with your usual contact for this supplier. We never recommend following phone numbers associated with email signatures, unless you can verify this is a genuine number.

Furthermore, we also recommend reading the following guide: How to recognize possible Fraud?

  • Last step - read the security confirmation. If you agree, mark the box and save the beneficiary.

  • You will receive an email confirming the new beneficiary added to your account.

If you require further clarification, please feel free to contact us via live chat or email operationsteam@ebury.com


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