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KCB Ibank Swift Guide

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24 views

KCB Ibank Swift Guide

Uploaded by

joseph
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 5

 From the main menu, select the option TransfersSwift Transfers

 STEP ONE- Remitter Details

 From Account – The Account from which you want to remit the SWIFT
 Account Name – Will populate automatically
 Ordering Physical Address (35 Characters, No Special Characters) – The physical address
of the remitting person or business entity. Be as descriptive as possible, e.g. MOI
AVENUE KENCOM HSE 7TH FLOOR RM25
 ID/PPN – Identification Document Number of the remitter or business incorporation
number of the remitting business entity
 Date of Birth – Date of birth of the remitter or date of incorporation of the business
entity

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 STEP TWO – Beneficiary Details

Beneficiary Personal Details

For first time remittance, select Once Off


If you have remitted to this beneficiary before and saved the beneficiary, select Saved

 Beneficiary Name – The recipient’s name


 Beneficiary Account – The recipient’s account (No Spaces). For remittances to the UK
and UAE the IBAN is used as a mandatory instead of the account number
 Beneficiary Address – Address of the recipient
 Post Code – Post Code of the recipient

Beneficiary Bank Details

 Beneficiary BIC/SWIFT CODE – The SWIFT code for the recipient’s bank. This is NOT an
input field.
 Click on the search icon to bring up a panel for retrieving the bank details

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 Search by country and SWIFT Code as provide by the recipient

 Select the desired SWIFT code by clicking on it

 The details will be populated on the SWIFT screen’s main page

 The Intermediary Bank details are not always mandatory. Where required, use the same
steps as above to search for the Intermediary Bank Details and they will be populated
accordingly
 Select Add this to beneficiaries to save the details for future remittances
 Key in the beneficiary’s email address to notify them of the remittance

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 STEP THREE – Transaction Amount Details

 Amount – The transaction amount


 Currency – The transaction currency. PS: Remittances are ALWAYS denominated in the
currency to be received by the beneficiary. Do not specify the local currency
 Execution Date – Defaults to the current date. A user can specify a future date
 My Reference – The details that the remitter wishes to appear in their statement
 Beneficiary Reference – The details that the remitter wishes to appear in the
beneficiary’s statement
 Payment Purpose – Purpose of payment
 Charges – Specifies who bears the transaction charge
 BEN – Full charge borne by Beneficiary
 OUR – Full charge borne by the remitter
 SHA – The remitter bears their own charges while the beneficiary bears any that
are levied at their end

 STEP FOUR – Negotiated Rate


This only applies where two currencies are involved and the remitter has negotiated for and
been given a reference token in the format FX…..

If no reference token has been issued, DO NOT click this check box

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 STEP FIVE – Attaching of Supporting Documents (Currently no active)

This is an option to attach supporting documents as per the regulator’s requirement

 STEP SIX – Add to Batch

Mainly used where several transactions are captured as one batch for purposes of approval

Complete posting by clicking on SUBMIT, entering TAN and confirming.

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