How to create a Beneficiary in ApprovalMax

How to create a Beneficiary in ApprovalMax

A Beneficiary is a recipient of payments in Airwallex, and contains general information like bank details and address as well as additional data.
The required data set depends on the: Beneficiary type, bank's country, account currency and payment method.

ApprovalMax supports:
  1. Beneficiary creation 
  2. Pulling Beneficiary data from Airwallex

Please note: only Requesters with 2FA enabled may start the process of Beneficiary creation. At the end of it, the Requester must confirm the creation with a code from the Authenticator app. 
Please note: ApprovalMax blocks an Airwallex Batch Payment approval, if the Beneficiary's details get later changed manually in Airwallex. 
Please note: Beneficiary creation needs to be enabled by the Organisation Administrator first.

Here is how a Beneficiary can be created in ApprovalMax:

  1. During Airwallex Batch Payment creation*, click on the Beneficiary field first and then on "+ New Beneficiary":

    *Beneficiary creation is only allowed for users added to the Airwallex Batch Payment workflow as Requesters.

  2. General information:
    Select the Recipient's account type, bank location and account currency (which is equal to the Bill currency), then click on NEXT:

  3. Payment method:
    Select the Payment Method: Local or SWIFT, then click on NEXT:

    When selecting the LOCAL payment method, the system will prefill the Local Clearing System field value from Airwallex.

  4. Bank and address details:
    Fill in the bank and address details, then click on NEXT:

    Please note: business name means the exact name of the business or company. However, the account name is the corresponding name of the account number where the funds are being sent to.
    It is possible that both the account name and business name are the same.

  5. Preview and check:
    Preview and check the information you added. If everything is correct, click on CREATE:

  6. Confirm the Beneficiary's creation by entering the 2FA code:

  7. Now, the Beneficiary has been added and can be used in the Airwallex Batch Payment creation process:

    The new Beneficiary will be set in line with the Bill where the user started this creation.

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