Managing beneficiaries & IBANs

Managing beneficiaries & IBANs

A beneficiary is the bank account behind a partner's payment method — the IBAN or account you actually pay. This article covers keeping those details accurate.

View a partner's accounts

Open a partner to see all their saved payment methods, each with its account or IBAN and the detected bank.

Add another account

A partner can have more than one account — for example, two different banks. Click Add payment method and choose the type:

Update an account

  1. Open the partner profile.
  2. Go to the Payment Methods tab.
  3. Click the ⋯ menu on the payment method card.
  4. Select Update, modify the details, and save.

Changing bank details (IBAN, SWIFT code, account number) may trigger re-verification. The payment method status will change to "Pending activation" until verification completes. See Verifying a payment method for details.

Remove an account

Delete a payment method you no longer use from the ⋯ menu on its card. Past payments made with it stay in your history — deleting a payment method doesn't delete the partner or their transaction history.

Saudi IBANs

Local accounts use a Saudi IBAN — 24 characters starting with SA. SiFi detects the bank automatically from the IBAN, so you don't have to choose it manually.

💡 If a local IBAN you enter belongs to another SiFi account, SiFi may suggest paying by internal transfer instead — it's free and arrives instantly.

Adding an alias

Each payment method can have an alias — an internal label to help your team distinguish between multiple accounts. For example: "Main operating account," "USD payments," or "Ahmed corp – Main account." Especially useful when a partner has both local and international accounts.

Good to know

  • Copy carefully: Always copy account numbers and IBANs directly from official bank details to avoid errors.
  • Verified before use: Each account is verified before its first payment, so you can pay with confidence.
  • No limit: A partner can have as many payment methods as needed — local, SWIFT, and SiFi accounts.
  • Deleting a payment method does not delete the partner or their transaction history.

See also: Editing partner details | All payment methods

Need more help? Contact support@sifi.sa.

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