CNY Settlement | Adding a Recipient

The Add Recipient feature in CNY Settlement allows merchants to add recipient bank accounts for CNY Settlement, supporting both business and individual recipients. Once approved, the recipient becomes available for creating CNY Settlement orders, helping simplify the creation of future CNY Settlement orders.

Navigate to the Recipients Page

1. Open Recipients: Go to Finance > Subotiz Accounts > CNY Settlement.

2. Create a recipient: Click the Recipients tab, then click New recipient.

Adding a Business Recipient

Business recipients are used to receive CNY Settlement funds in a business bank account.

1. Select the recipient type: Choose Business.

2. Use Quick select (Optional): Click My company under Quick select to automatically populate supported recipient information using your registered business information in Subotiz Accounts. Review the pre-filled information, complete the remaining required fields, and update any information if necessary.

3. Enter recipient information: Enter the required recipient information.

   The page includes the following section:

   • Recipient details
     • Bank name
     • Bank branch
     • Bank account
     • Account name
     • Nickname
     • Phone number
     • Unified Social Credit Code
     • Country / Region
     • State (optional)
     • City (optional)
     • Zipcode (optional)
     • Address

    

4. Submit the recipient: Click Submit. The system begins reviewing the recipient information.

Adding an Individual Recipient

Individual recipients are used to receive CNY Settlement funds in a personal bank account.

1. Select Individual: Choose Individual.

2. Complete recipient details: Enter the required recipient information.

   The page includes the following sections:

   • Recipient details
     • Bank name
     • Bank account
     • Bank reserved phone number
   • Personal information
     • Last name
     • First name
     • Nickname
     • ID number
     • Email (optional)
     • Country / Region
     • State (optional)
     • City (optional)
     • Zipcode (optional)
     • Address

3. Submit the recipient: Click Submit. The system begins reviewing the recipient information.

Checking Recipient Status

After submitting a recipient, you can track its review status from the Recipients page.

1. View the review status: Return to the Recipients page and review the current status of the corresponding recipient.

A recipient can display one of the following statuses.

Managing Recipients

After the review is complete, the available actions depend on the recipient's current status.

• View Details: Review the submitted recipient information.
• New Settlement: When the status is Active, create a new CNY Settlement order using this recipient.
• Add Document: When the status is Required, upload the requested documents and resubmit the recipient for review.
• Delete: Remove recipients that are no longer needed.

For more information about viewing recipient details, uploading additional documents, or deleting recipients, see CNY Settlement | Managing Recipients.

Best Practices

• Provide accurate recipient information: Ensure all bank account, identity, and business information is complete, accurate, and consistent with the actual recipient account.
• Use the correct recipient type: Select Business or Individual based on the actual account owner to help avoid review delays.
• Use Quick select when available: For business recipients, use Quick select to reduce manual entry and improve data consistency.
• Respond to review results promptly: If the status changes to Required or Rejected, follow the on-screen instructions as soon as possible to avoid delaying future CNY Settlement orders.
• Remove unused recipients: Delete recipients that are no longer needed to keep the recipient list organized.

After submitting a recipient, the system reviews the provided information. Once approved, the recipient is available for creating CNY Settlement orders. If additional documents or information are required, follow the on-screen instructions and resubmit the recipient to complete the review process.