Create beneficiaries to send payments to to save having to re-enter details each time.
Creating new Beneficiaries in the Modulr Portal can be done in a few simple steps outlined below. Newly created Beneficiaries will need to be approved before they can be used.
Modulr only
Information required
- The Beneficiary name (max 18 characters)
- The sort code
- The account number
- A reference message (this appears on the Beneficiary’s statement)
Creating a beneficiary
- Select ‘Beneficiaries’ in the side menu
- Select 'Create Beneficiary' above the table
- Complete the details in the form that’s displayed
- Select ‘Create’ to finish – you’ll be prompted for an Authy authentication on your phone
- The Beneficiary can be viewed in the ‘Unapproved’ tab on the Beneficiaries page until approved
Approving beneficiaries
The process to approve a beneficiary is the same as for approving payments or batches. (Pending Beneficiary Approvals can be viewed in the ‘Beneficiaries’ tab on the Approvals page). Once a Beneficiary is approved, it becomes active and can be used for payments. Active beneficiaries can be viewed in the Beneficiaries section in the side menu.
- Select Approvals from the side menu.
- Select the Beneficiaries tab
- Select the beneficiary or beneficiaries that you wish to approve or reject by checking the box on the left side of each table row. You can also select all by checking the box in the table header row.
- In the action bar that appears at the bottom of the table, select Approve or Reject.
- Confirm the action you selected in the confirmation summary box that appears (you’ll be prompted for an Authy authentication). Beneficiaries will now be active and ready to use for making payments in the Portal.
Rejected Beneficiaries
Rejected beneficiaries won't be set up or made active and will be removed from the Approvals → Beneficiaries table.