Virtual Account Management
Centralizing cash and liquidity management, simplifying bank account structures and automating reconciliation of receivables has never been easier – with Virtual Accounts and Virtual IBANs.
Simplify Your Banking
Streamlined account structures help you increase efficiency, reduce costs and keep a clear overview.
Centralize Your Cash Flows
Concentrate your payment flows in one physical bank account for optimized liquidity management.
Automate Your Payment Allocation
Fully automated allocation and reconciliation of payments accelerates your processes.
Central. Digital. Efficient.
Business can be complex, but your accounting doesn’t have to be. Virtual Accounts for your company’s divisions and branches streamline your cash management, while always keeping a transparent overview on your payment flows. Virtual IBANs for your paying customers accelerate your reconciliation processes.
Virtual Accounts
Centralize your treasury activities and reduce the number of bank accounts by linking multiple Virtual Accounts for all your divisions or branches to one physical bank account.
Virtual Accounts
Centralize your cash and liquidity management and simplify your bank account structures
How exactly do Virtual Accounts make your banking easier?
- Attribute one or more Virtual Accounts to your divisions or branches
- Payments and collections to or from Virtual Accounts are immediately booked on your physical bank account
Virtual Accounts can be used for all payment transactions. There are no actual bookings on Virtual Accounts. - Payment transactions are clearly allocated to the respective Virtual Account
Payment transactions contain the IBANs of Virtual Accounts and can therefore easily be identified. - Cash is automatically centralized in one single bank account
Single transactions are displayed on each individual Virtual Account. - Comprehensive Virtual Account related information
Our internet application VAM@Web provides access to comprehensive Virtual Account related information such as account balances and payment transactions on both the physical bank account as well as your Virtual Accounts. Account statements for the physical bank account as well as account information for Virtual Accounts are provided electronically via our standard channels.
Good to know
- Virtual Account solutions are currently set up for one legal entity.
- One physical bank account per currency is held at RBI.
- Your physical bank accounts and respective Virtual Accounts are denominated in the same currency.
- After signing the Virtual Account customer agreement, we provide the required number of Virtual Accounts.
Virtual IBANs
Incoming payment reconciliation often results in a huge manual workload. Automating this process with Virtual IBANs saves valuable time and money.
Virtual IBAN
Automate your incoming payment reconciliation
How does Virtual IBAN make your processes more efficient?
Using a Virtual IBAN is like attaching your story to a payment. For you as a corporate, this means:
- Assign Virtual IBANs to your customers
Each customer will have a unique Virtual IBAN. Virtual IBANs are linked to your physical account. - Customers pay to their respective Virtual IBAN
Outstanding amounts are sent to their respective Virtual IBAN via credit transfers. - Incoming payments are immediately booked on your physical bank account
Thanks to Virtual IBANs, payments are clearly allocated to the respective instructing party. Your physical bank account is used for outgoing payments. - Fully automated reconciliation of incoming payments
Receivables are transparently allocated without manual workload. - Comprehensive Virtual IBAN related information
Our internet application VAM@Web provides access to comprehensive Virtual IBAN related information such as balances and incoming payment transactions on both the physical bank account as well as your Virtual IBANs.
Stay Tuned for More
Our Virtual Account Management journey has only just begun: Our experts constantly work on further innovations to make your cash management even more efficient.
Digital Services: Manage It All Centrally in VAM@Web
Our internet application VAM@Web offers comprehensive information about your Virtual IBANs and Virtual Accounts (balances, payment transactions etc.). Stay fast and flexible with the self‐service functionality.
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Get in Touch With Us
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Susanne Prager
Cash Management
