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:
- Log into the BVNK Portal.
- Select "Bank beneficiaries".
- Click the "Add a beneficiary" button.
- Select "Local" or "International" depending upon the beneficiary type which is desired to be added.
- Select “Individual” and fill in the details to add the beneficiary.
- Confirm the details and authorise the beneficiary to be added.
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:
- Select the "Wallets" section on the side navigation.
- Pick the wallet to pay from and click “Send fiat” Click the "Pay"
- Select the beneficiary to be paid to under the “Individual” list.
- 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:
- Log into the BVNK Portal.
- Click on the "Wallet" tab.
- Select the Virtual Account that you wish to receive funds to.
- Click the "Deposit" button to access the details.
- Click copy and send the details to the individual that is desired to receive payments, or display these details in your platform.
If you would like to access payments to and from individuals, please contact your Account Manager and they will discuss this further with you.