Banking Circle Virtual IBAN for Banks gives local and regional banks of any size the ability to manage cross border payments and local collections for their corporates in the Eurozone and the UK, without the need for a local presence in those regions.
Our unique solution provides Banks with access to virtual IBAN accounts in EUR, GBP and DKK, ensuring accurate and instant reconciliation. With Virtual IBAN for Banks, Banks can accept payments and then report in real-time, meaning decisions can be made based on actual liquidity – as they would with local payments.
Virtual IBAN for Banks through Banking Circle:
- Access to domestic clearing without a local presence
- EUR, GBP and DKK with more currencies to follow
- Ability to leverage the Banking Circle network to make and receive payments instantly
- Instant and accurate reconciliation
- Significantly cheaper than traditional methods
- Seamless integration and implementation via SWIFT, API or UI
- No KYC required on your underlying clients