How virtual accounts fit into Treasury
Virtual accounts are part of your Treasury infrastructure.- They receive incoming bank transfers
- Funds are credited to your balances
- Each account is tied to a specific country and currency
Supported regions and capabilities
You can open virtual accounts in the following regions:| Region | Currency | Local funding methods | SWIFT funding |
|---|---|---|---|
| Australia | AUD | Bank Transfer | No |
| Brazil | BRL | PIX, TED | No |
| Canada | CAD | EFT, Interac e-Transfer | No |
| Denmark | DKK, EUR, AUD, AED, CAD, CHF, CNY, CZK, GBP, HKD, HUF, ILS, JPY, MXN, NOK, NZD, PLN, RON, SEK, SGD, USD, ZAR | DKK: Intradagclearing, RTGS (KRONOS2); EUR: SEPA Instant, SEPA | Yes |
| Estonia | EUR | SEPA Instant, SEPA | No |
| Germany | EUR | SEPA Instant, SEPA | No |
| Hong Kong SAR | CNY, EUR, HKD, USD, AUD, GBP, JPY, SGD, CHF, CAD, NZD | CNY/HKD: ACH, RTGS, FPS; EUR/USD: RTGS | Yes |
| Indonesia | IDR | RTGS, SKN, BI-FAST | No |
| Israel | ILS | Faster Payments, MASAV, ZAHAV | No |
| Mexico | MXN | SPEI | No |
| Netherlands | EUR | SEPA Instant, SEPA | No |
| New Zealand | NZD | Direct Credit | No |
| Philippines | PHP | Instapay, PESONet | No |
| Poland | PLN | Elixir, Express Elixir, RTGS (SORBNET) | No |
| Singapore | SGD, USD, AUD, CAD, CHF, CNY, EUR, GBP, HKD, JPY, NOK, NZD, SEK | SGD: GIRO, MEPS, FAST | Yes |
| United Arab Emirates | AED | IPI, RTGS | No |
| United Kingdom | GBP | Faster Payments, BACS, CHAPS | Yes |
| United States | USD | ACH, Fedwire, FedNow, RTP | Yes |
Availability may depend on your specific configuration or region. Some payment methods are only for eligible customers, subject to approval.
How funds are received
When funds are sent to a virtual account:- The transfer is processed through local or international banking rails
- Funds are credited to your Treasury balance
- A transaction is created in your ledger
Using virtual accounts
Virtual accounts can be used flexibly across workflows:- Assign accounts to specific payers
- Use accounts for funding Treasury balances
- Support region-specific payment flows
- Receiving bank transfers
- Supporting local payment methods
- Improving reconciliation
Relationship to Collect
Virtual accounts are also used in Collect to receive payments.- Treasury defines where accounts exist and what is supported
- Collect defines how they are used in payment flows
Key behaviors
- Each virtual account is tied to a specific region and currency
- Funds are credited directly to your balances
- Incoming transfers create transactions in your ledger
- SWIFT support enables cross-border funding in select regions
Summary
- Virtual accounts enable you to receive funds via local and international bank transfers
- Supported regions define where accounts can be opened
- Local and SWIFT funding methods vary by region
- They provide flexible infrastructure for collecting and funding workflows