Creating bulk beneficiaries
Step 1
Login to your Verto account at https://exchange.vertofx.com
Step 2
Hover over the left hand sidebar, and click Beneficiaries.
Step 3
Download the bulk beneficiary template by clicking the here hyperlink. You can also download it by clicking here.
Step 7
Open and fill in the template. You will need to enter:
Currency (required) – the 3-letter code e.g. USD, GBP, or EUR.
Payment method (required) – Enter local (for domestic) or international (for SWIFT).
Beneficiary type (required) – Enter company or individual.
Account number/IBAN (required) –
Local: Use the domestic format (e.g., 10 digits for US, 8 digits for UK).
International: Enter the full IBAN (e.g., 27 characters for France starting with FR).
Bank code/SWIFT (required) –
Local: Use the local code (9-digit ABA for US, 6-digit Sort Code for UK).
International: Enter the 8 or 11-character SWIFT/BIC code.
Recipient state (required for USD) –
For USD: Use the Full State Name (e.g., New York).
For International: Use the Region/Province (e.g., Paris).
Recipient country code (required) – The 2-letter code (e.g., US, GB, FR).
Account type (Required for USD local) – This is located in Column S (the 19th column).
For USD local (ACH) transfers, you must enter checking or savings.
For GBP/EUR or International payments, this can usually be left blank.
Account address fields (required for USD payments or international payments)
Important Note: Even if you leave a column like "Recipient address line 2" blank, do not delete the column header. The system expects all 28 columns to be present in the file, even if some are empty.
Example available here.
If the account number or bank code begins with a 0, put an apostrophe - ' - before it, to ensure your spreadsheet editor doesn't remove the first 0(s).
Save the template. Click Bulk upload, and then drag the CSV into the Import file section.
Step 8
Once all beneficiaries are uploaded successfully (you'll be told if there are issues with the template), click the Finish button.
Step 9
You're done! Continue to make your payments. You can use bulk payments to make your payments.
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If you have additional questions please reach out to us via live chat, Chat with Frank or at support@vertofx.com