A "Virtual IBAN (International Bank Account Number" is a unique identifier that functions like a traditional IBAN but does not correspond to a physical bank account. It's used to route payments or funds to a central account where multiple sub-accounts can be managed. Virtual IBANs help businesses streamline international transactions, improve payment tracking, and manage funds across different regions or departments.
A virtual International Bank Account Number (IBAN) is a virtual account number that allows individuals and businesses to send and receive payments. Virtual IBANs are issued by Banking-as-a-Service providers.
Comments (2)
BIS Research Market
8
Market Intelligence on Deep Techs
A "Virtual IBAN (International Bank Account Number" is a unique identifier that functions like a traditional IBAN but does not correspond to a physical bank account. It's used to route payments or funds to a central account where multiple sub-accounts can be managed. Virtual IBANs help businesses streamline international transactions, improve payment tracking, and manage funds across different regions or departments.
Dheeraj Maurya
11
Content writing =Thinking ability
A virtual International Bank Account Number (IBAN) is a virtual account number that allows individuals and businesses to send and receive payments. Virtual IBANs are issued by Banking-as-a-Service providers.