Credit Transfers (CTs) allow you to transfer funds from your account to a beneficiary’s account. With a CT, you (the merchant) become the payer and the person to whom you are transferring funds becomes the beneficiary.
Unlike Direct Debit payments where you pull funds from your payers’ accounts, with a CT payment you push funds to a specific beneficiary account.
Before you initiate a CT payment you will need to create one or more beneficiaries. Beneficiaries can be set up before you initiate your payment or, if required, the beneficiary and payment can be generated in a single step.