Collections for Sellers via Virtual IBAN
Our Virtual IBAN solution allows you to provide your sellers with virtual accounts in their own name, to collect payments locally and cross-border from your Marketplace.
Features & Benefits
- Provide your sellers with instant access to Virtual IBAN accounts
- Sellers can collect payments locally and cross-border in their own name
- Each seller has their own unique details which they can provide to buyers
- Unlimited number of accounts can be created
- Available in EUR (DE IBAN), GBP, USD, DKK & PLN
- Provides look and feel of having a banking presence
- Clear segregation of funds and full transparency
Multi-currency settlement accounts
Through Banking Circle, Marketplaces can access multi-currency physical settlement accounts with safeguarding capability to support regulated activity. Settlement accounts can be linked to underlying Virtual IBAN accounts for streamlined reconciliation.
Features & Benefits
- Available in 25 currencies
- Four IBAN formats supported
- DE (Germany) and LU (Luxembourg) – EUR
- DK (Denmark) – DKK
- GB (United Kingdom) – GBP
- Easily manage funds
- Virtual IBAN capability for easy reconciliation
