Adding a Beneficiary for Third-Party
Payments
This section guides you through the
process of adding a new beneficiary for third-party payments.
Overview
Adding a new beneficiary allows you
to register organizations or individuals to whom third-party payments will be
made. You'll need to provide general contact information and detailed bank
account information for successful setup.
Procedure
- Navigate to Setup >
Loan Related > 3rd Party Payment.
- Click the Add a New
Beneficiary button.
General Information
Complete the following fields in the
GENERAL section:
- Organisation
Name: Enter the full name of the organization or individual
beneficiary.
- Contact Person:
Provide the name of the primary contact person at the
organization.
- Work Telephone
Number: Enter the work telephone number for the
organization.
- E-mail Address:
Input the email address of the organization.
- Description: Add
a brief description for your reference.
Account Information
Complete the following fields in the
ACCOUNT INFORMATION section:
- Bank: Select
the beneficiary's bank name from the dropdown list. This is a required
field.
- Branch Search:
- To find a branch code, enter an
asterisk (*) and click the Search button.
- Alternatively, you can enter
the specific branch code (without spaces) and click the
Search button.
- Branch Select:
This field will automatically populate once a successful branch search is
executed. Select the preferred branch from the options.
- Branch Code:
This field will automatically populate with the corresponding branch code
after a successful branch search.
- Bank Account
Type: Select the type of bank account from the dropdown list. This is
a required field.
- Bank Account
Number: Enter the beneficiary's bank account number, ensuring there
are no spaces. This is a required field.
- Bank Reference:
Provide a bank reference for your internal records.
Actions
- Save: Click the
Save button to store the new beneficiary information in the
database.
- Cancel: Click the
Cancel button if you do not wish to save the entered
information and want to return to the previous screen.