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 your underlying client
  • 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

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