Beneficiary

A beneficiary is the individual or entity designated to receive funds from a transaction or trust account.

Beneficiaries in Travel

‍In the travel industry, beneficiaries may include hotels, airlines, or travel agents who receive funds from customer payments.

Beneficiary Challenges

‍Ensuring that payments are sent to the correct beneficiary can be complex, especially in multi-party transactions.

Key Takeaways

• Receives funds from transactions.
• Can involve multiple parties.
• Errors in payment direction can cause delays.

How Can Felloh Help with Beneficiaries?

‍Felloh ensures accurate and timely disbursement to beneficiaries through automation and real-time tracking of payments.