Virtual IBAN

A virtual IBAN is a unique, digitally generated bank account number that’s linked to a master (real) bank account. It allows businesses to receive payments in their own name while keeping funds centralised in one main account.

Each virtual IBAN can be assigned to a specific customer, currency, or region, making it easy to track incoming payments, automate reconciliation, and improve visibility without opening multiple physical accounts.

Example:

A UK company has one main EUR account with its payment provider. It issues virtual IBANs to each of its European clients — when payments are received, they all settle into the same master account but appear with individual client references.

Used in:

Payment collection, reconciliation automation, FX and treasury management, and cross-border business banking.