Payment Service Providers (PSPs), wallet providers and regulated entities who provide wallet functionality to their end customers are able to harness Banking Circle Virtual IBANs to receive and send funds. A multiple currency virtual IBAN can be allocated per wallet.
Virtual IBAN accounts through Banking Circle:
- Easy and quick account setup across currencies
- 24 currencies available, subject to approval
- Can be accessed and utilised through the Banking Circle web platform or via the Banking Circle API
- FX capability to enable conversions and payments as well as treasury management
- Reporting capability allows full visibility and reconciliation
- Payments can be sent in wallet owners’ names in EUR and GBP