Before sending money abroad, you must add the beneficiary who will receive the funds. A beneficiary can be an individual, educational institution, healthcare provider, business entity, or any approved recipient depending on the purpose of your remittance. Accurate beneficiary information is essential to ensure successful and timely delivery of funds.

Who Can Be a Beneficiary?

Beneficiaries may include:

• University
• College
• Student
• Family Member
• Hospital
• Business Entity
• Property Seller
• Overseas Institution

Step 1: Login to PayFX Global

Access your PayFX Global account using your registered email address and password.

• Log in to your account dashboard
• Ensure your account verification is complete

Step 2: Navigate to Beneficiaries

Access the beneficiary management section from your dashboard.

• Go to Dashboard
• Select Beneficiaries
• Click Add New Beneficiary

Step 3: Select Beneficiary Type

Choose the category that best matches your beneficiary.

• Individual
• Institution
• University
• Business

Step 4: Enter Beneficiary Details

Provide the beneficiary's banking and personal information accurately.

• Full Name
• Country
• Currency
• Bank Name
• Account Number
• SWIFT/BIC Code
• IBAN (where applicable)
• Routing Number (USA)
• Sort Code (UK)
• BSB Number (Australia)

Step 5: Verify Information

Carefully review all entered details before proceeding.

• Check beneficiary name spelling
• Verify account number and bank details
• Confirm destination country and currency

Step 6: Save Beneficiary

Submit the beneficiary details for verification and approval.

• Click Save Beneficiary
• Wait for approval if verification is required
• Use the beneficiary for future transfers once approved

Tips for Adding Beneficiaries

Follow these recommendations to avoid delays and errors.

• Use official bank documents when entering details
• Verify the account number carefully
• Confirm the beneficiary name spelling
• Double-check the SWIFT/BIC Code
• Ensure the correct destination currency is selected

Frequently Asked Questions

Can I add multiple beneficiaries?

Yes. You can add and manage multiple beneficiaries within your PayFX Global account.

Can I edit beneficiary details later?

Yes. Beneficiary details can be updated, subject to verification and compliance requirements.

Can I delete a beneficiary?

Yes. Beneficiaries can be removed from your account at any time through the beneficiary management section.

Maintaining accurate beneficiary information helps ensure secure, compliant, and timely international transfers.