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: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