Banking Circle Virtual IBAN gives financial institutions a crucial competitive edge to enhance their service proposition, by providing them with access to international business bank accounts.

Through Banking Circle, FinTechs and other financial institutions can issue multi-currency IBAN accounts for customers in their own name and in multiple jurisdictions, increasing the ease, speed, and clarity of payments.

Key benefits of Virtual IBAN accounts include:

  • Fast account set up
  • Local clearing capability plus cross border payments through the SWIFT network
  • Ability to leverage the Banking Circle network to make and receive payments instantly
  • Payments and FX API connectivity
  • Access to an award-winning FX platform via web, tablet and mobile
  • Same day settlement for SEPA payments
  • A 25+ multi-currency, multijurisdictional banking solution which negates the need to have several banking relationships
  • Improved payments acceptance, settlement times and reconciliation because payments are made in the name of the Virtual IBAN account holder
  • Reduced AML and KYC risk as a result of end to end transparency and clear segregation of funds

Virtual IBAN is available as a Collection or a full Transaction Solution:

 Collection SolutionTransaction Solution
Single payments in
**
Single payments out
*
Bulk payments out
**
Bulk generation of Virtual IBANs
*
Accounts are in the name of each unique customer of the Master account holder
*
Enables FX and Payments businesses to
offer their customers a full transactional service
*
How it works

Banking Circle’s Virtual IBAN solution helps Financial Tech businesses to deliver multi-currency accounts to their customers, increasing the ease, speed, and clarity of payments.

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Get in touch

Email us at info@bankingcircle.com and one of our team will be in touch shortly.