Creating a new beneficiary Sequence
A new beneficiary can be created at any time. It is essential to ensure that all beneficiary details, especially banking information, are accurately entered to facilitate seamless risk and compliance screening and prevent any processing delays.
Step 1. Data lookup
To facilitate the creation of a new beneficiary, certain fields will require selection from existing data sources.
- Retrieve countries. This data source contains a list of countries, identified by either 'country_code' or 'country_id', that are currently supported for beneficiary setup. It also displays the available currencies within each country, using 'currency_code' and 'currency_id'. Both the country and currency source are required for Step 2. If any necessary countries are missing from the list, please reach out to us for further assistance.
{
"id": 10004,
"name": "Australia",
"can": {
"create_beneficiaries": true,
"create_customers": true
},
"country_code": "AUS",
"default_currency": {
"id": 10004,
"name": "Australian Dollar",
"currency_code": "AUD"
},
"available_currencies": [
{
"id": 10001,
"name": "US Dollar",
"currency_code": "USD"
},
{
"id": 10004,
"name": "Australian Dollar",
"currency_code": "AUD"
},
{
"id": 10002,
"name": "Euro",
"currency_code": "EUR"
},
{
"id": 10032,
"name": "Hong Kong Dollar",
"currency_code": "HKD"
},
{
"id": 10221,
"name": "Chinese Yuan Hong Kong",
"currency_code": "CNH"
}
]
},- Retrieve currencies. This data source offers a list of supported currencies. For Step 2, you may use either the 'currency_code' or 'currency_id'. The response indicates whether each currency can be bought or sold. If any required currencies are missing, please contact us for further assistance.
{
"currencies": [
{
"id": 10001,
"name": "US Dollar",
"currency_code": "USD",
"can": [
"sell",
"buy"
]
},
{
"id": 10004,
"name": "Australian Dollar",
"currency_code": "AUD",
"can": [
"sell",
"buy"
]
},
{
"id": 10002,
"name": "Euro",
"currency_code": "EUR",
"can": [
"sell",
"buy"
]
},- Retrieve a remuneration type. There are 2 types of remuneration, "Priority" (International via SWIFT) or "Local" (via PayID).
{
"remuneration_types": [
{
"id": 4,
"name": "priority",
"label": "International"
}
],
"pagination": {
"item_count": 1,
"page": 1,
"page_size": 20
}
}- Retrieve transaction reasons. This data source offers a list of transaction reasons to choose from, depending on the selected country. Each country may have different transaction reasons or none at all.
{
"transaction_reasons": [
{
"id": 10451,
"name": "Goods Trade",
"user_input_required": false,
"countries": [
{
"id": 10131,
"name": "United States",
"country_code": "US"
}
]
},
{
"id": 10033,
"name": "In or Outward Remittance ",
"user_input_required": false,
"countries": [
{
"id": 10131,
"name": "United States",
"country_code": "US"
}
]
},
{
"id": 10320,
"name": "Paying and Invoice",
"user_input_required": false,
"countries": [
{
"id": 10131,
"name": "United States",
"country_code": "US"
}
]
},
{
"id": 10120,
"name": "Payment for services",
"user_input_required": false,
"countries": [
{
"id": 10131,
"name": "United States",
"country_code": "US"
}
]
}
],
"pagination": {
"item_count": 4,
"page": 1,
"page_size": 20
}
}
Step 2. Create a new beneficiary
To Create a beneficiary., it is essential to ensure all details are entered accurately. Bank/SWIFT codes are automatically validated, and country codes are mandatory for all phone numbers. Email addresses are not validated, hence it's crucial to double-check their accuracy, as email is the primary method of communication.
For Beneficiaries based in Australia, "local_code": "062692" (known as the BSB number) is a required field.
Once the beneficiary is successfully created, an "ID" will be generated and made available for immediate use.
{
"beneficiary": {
"id": 24509,
//"name": {
//"first_name": "White",
//"middle_name": null,
//"last_name": "Rabbit"
},
// "status": "approved_by_client",
// "country": {
// "id": 10004,
// "name": "Australia",
// "country_code": "AUS"
},
// "currency": {
// "id": 10004,
// "name": "Australian Dollar",
// "currency_code": "AUD"
},
"account_type": {
// "id": 10001,
// "name": "Individual"
},
// "mobile": {
// "isd": "614",
// "number": "040000000"
},
// "email": null,
// "address": {
// "address_line_1": "123 Test street",
// "address_line_2": "",
// "suburb": "null",
// "city": "Sydney",
// "province": "Australia",
// "postcode": "00501",
// "country_code": "AUS"
},
// "remuneration_type": {
// "id": 3,
// "name": "local",
// "label": "Local"
},
// "reason_for_payment": "test",
// "relation_with_customer": "friend Testing",
// "bank_details": {
// "bank_name": "CBA",
// "bank_code": null,
// "branch_code": null,
// "branch_name": "Test Branch",
// "account_name": null,
// "account_number": "123456",
// "local_code": "062692",
// "international_code": "",
// "address_line_1": "123 Test street",
// "address_line_2": null,
// "country": {
// "id": 10004,
// "name": "Australia",
// "country_code": "AUS"
}
},
// "created_date": "2025-10-08T15:00:38+11:00",
// "updated_date": "2025-10-08T15:00:38+11:00"
}
}