What are Virtual Bank Accounts?
Virtual Bank Accounts are digital representations of real bank accounts that provide businesses with actual bank routing and account numbers. They enable businesses to receive payments, track transactions, and manage their financial operations through a streamlined digital interface.Account Details
Each Virtual Bank Account provides comprehensive banking information: Account Information
- Account Number - A real bank account number
- Routing Information:
- Domestic Fast Credit (ACH)
- Domestic Wire
- Global Wire (SWIFT)
- Currency - USD
Transaction Management
The system tracks all VBA transactions including:- Deposit amounts - Track all incoming payments to the VBA
- Statement descriptors - Clear descriptions that appear on bank statements
Balance Tracking
Merchants can check their VBA balance in real-time through the dashboard.Balance Features
- Real-time balance tracking
- Balance monitoring through dashboard
VBAs essentially provide the functionality of a real bank account through a digital interface, making it easier for businesses to manage their financial operations without the complexity of traditional banking relationships.