The beneficiary management feature allows you to add or delete payment beneficiaries using Ripple Payments UI.
- This feature is currently only available to Ripple Payments Direct users.
- If you need your beneficiary to be paid out in different currencies, you need to create separate beneficiary entries for each currency. For example, if you want to pay out a beneficiary in
EURandGBP, you need to create one profile for this beneficiary where the payout currency isEURand a second profile for the beneficiary where the payout currency isGBP.
- To add a beneficiary in Ripple Payments UI, click Settings > Manage Beneficiaries > Add Beneficiary.
- Specify the payment destination, beneficiary details, and bank information.
Make sure that the information you provide is accurate. Once the new beneficiary is created, you can't edit any of the details. Instead, you'll have to delete the beneficiary and create a new one with the correct information.
Complete the following steps to specify a payment destination:
From the Destination Country drop-down list, select your beneficiary's destination country.
Supported destination countries and payout currencies
Destination Country Payout Currency Austria EUR Belgium EUR Croatia EUR Czechia EUR Denmark EUR Estonia EUR Finland EUR France EUR Germany EUR Greece EUR Hungary EUR Iceland EUR Ireland EUR Italy EUR Lithuania EUR Luxembourg EUR Malta EUR Monaco EUR Netherlands EUR Norway EUR Poland EUR Portugal EUR Romania EUR Spain EUR Sweden EUR Switzerland EUR United Kingdom of Great Britain and Northern Ireland EUR, GBP Vietnam VND United Kingdom of Great Britain and Northern Ireland only: From the Payout Currency field select either EUR or GBP.
All other countries currently support only one payout currency, hence, the payout currency is pre-selected in those cases.Bank account is currently the only supported payment method.
Click Next.
Complete the following steps to specify the beneficiary details:
Fill out the following fields:
Field name Description Example Beneficiary Nickname A nickname for your beneficiary.
Note: When you create a payment and select a beneficiary, this is the name that you'll see in the beneficiary drop-down list.Muster GermanyBusiness Legal Name The beneficiary's legal business name. Muster GmbHCorporate Phone Number The beneficiary's business phone number including the country code. +49 4321 1234Email The beneficary's business email address. tina@muster.deBusiness Address The beneficiary's business street address. Musterstrasse 1City The city in which the beneficiary's business is located. MusterstadtOnly for certain countries:
State/CountyThe state or country or province in which the beneficiary's business is located. MusterprovinzPostal Code The postal code associated with the city in which the beneficiary's business is located. 12345Country of Incorporation The country in which the beneficiary's business is incorporated. Germany
- Click Next.
Complete the following steps to specify the beneficiary's bank information:
According to the payment destination, fill out the following fields:
Payment destination within the EEA or UK
Field name Description Example Organization ID Scheme Scheme used to identify the beneficiary's organization. The field value is always Certificate of Incorporation Number.Certificate of Incorporation NumberOrganization ID Identification of the beneficiary organization assigned by a regulatory institution. musterBank Name Name of the bank where the beneficiary receives the payout. Deutsche BankBank ID The issuer code that Ripple's payout partner requires for the specific payout method-country pair.
For the correct Bank ID, see Bank IDs.490001IBAN International Bank Identification Number (a combination of ISO country code, check digits, and the bank account number). DE12 3456 0000 1234 5678 90Relationship to Sending Customer The relationship that the beneficiary has to the sending customer.
The following options are available:Business partnerBranch/Representative officeCustomerSubsidiary companyHolding companySupplierFranchisee/FranchisorCustomerPayment destination Vietnam
Field name Description Example Organization ID Scheme Scheme used to identify the beneficiary's organization. The field value is always Certificate of Incorporation Number.Certificate of Incorporation NumberOrganization ID Identification of the beneficiary organization assigned by a regulatory institution. sampleBank Name Name of the bank where the beneficiary receives the payout. VietinbankBank ID The issuer code that Ripple's payout partner requires for the specific payout method-country pair.
For the correct Bank ID, see Bank IDs.840002City of the Bank The city in which the beneficiary's bank is located. HanoiState of the Bank The state or county or province in which the beneficiary's bank is located. HanoiAccount Number The beneficiary's bank account number. 1234 567 890Relationship to Sending Customer The relationship that the beneficiary has to the sending customer.
The following options are available:Business partnerBranch/Representative officeCustomerSubsidiary companyHolding companySupplierFranchisee/FranchisorCustomerClick Finish.
Your beneficiary is created and is now available for selection when you create a payment.
To confirm that the new beneficiary you created is available for selection when you create a new payment, view the list of beneficiaries by clicking Settings, and then Manage Beneficiaries.
To delete a beneficiary:
- Click Settings > Manage Beneficiaries.
- Locate the beneficiary you want to delete and next to its entry, click Delete.
- In the Delete Beneficiary window, confirm that you want to delete the beneficiary by clicking Confirm.
Your beneficiary is now deleted from your beneficiary list and will no longer be available for selection when you create a new payment.