Payout to an Individual

This refers to a scenario when a customer of BVNK's sends funds to an individual customer. It can occur in scenarios such as:

• Payments for goods and/or services.
• Payments for winnings, rewards, promotions, or cashback.
• Refunds for purchases and/or services.

How to Add an Individual Beneficiary

The following steps outline the process:

1. Log into the BVNK Portal.
2. Select "Manage account".
3. Select "Manage beneficiaries".
4. Click the "Add a beneficiary" button.
5. Select "Local" or "International" depending upon the beneficiary type which is desired to be added.
6. Fill in the details to add the beneficiary.
7. Confirm the details and authorised the beneficiary to be added.
8. The new beneficiary will appear in the list of beneficiaries in the "Manage beneficiaries" section.

How to make a payment to an Individual Beneficiary

The following steps outline the process:

1. Click on the Virtual Account that is the desired one to be paid from.
2. Click the "Pay" button within the Virtual Account.
3. Select the individual beneficiary to be paid to.
4. Follow the payout flow to the complete the individual payout.

Payin from an Individual

This refers to a scenario when a customer of BVNK's receives funds from an individual customer. It can occur in scenarios such as:

• Paying for goods or services.
• Submitting deposits or fees.

How to Share Account Details to Receive Individual Payments

The following steps outline the process:

1. Log into the BVNK Portal.
2. Click on the "Wallet" tab.
3. Select the Virtual Account that you wish to receive funds to.
4. Click the "Deposit" button to access the details.
5. Click copy and send the details to the individual that is desired to receive payments, or display these details in your platform.