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Wholesale Banking
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Virtual Bank Account

There’s no denying that Virtual Bank Accounts (VBAs) are still a hot topic among the treasury community. VBAs are bank-issued IBAN accounts that instantly route payments and collections to a linked header current account. The same linked header account pre-funds the outgoing transactions. After an easy set up, the VBAs can be allocated to any purpose – from denoting a legal entity or business unit to pinpointing individual payers. Every VBA has a unique IBAN, which helps to separate funds in the header account.

Automatic transfer between VBA and cash pool header account in real-time to minimise idle cash

Easily track and reconcile transactions by segregating cash flows and payment types from separate VBAs

Concentrate cash through VBAs at a local level or via cross-border level in real-time to create one central liquidity position

Concentrated corporate cash flow across VBAs

Real-time cash optimisation

Automatic transfer of payments and receipts from separate VBAs to a cash pool header account in real-time, facilitating immediate consolidation of cash flow & visibility at a central level and minimising idle cash.

  • Automated funding of local accounts

    The consolidated balance on the cash pool header account is used to pre-fund outgoing payments sent from the underlying VBA. This automated pre-funding is transaction based to avoid idle cash. Via the pre-funding mechanism no credit lines for outgoing payments are needed.

  • Improve your reconciliation

    Straight through reconciliation and reduced manual post-processing of unmatched items. Via ING’s VBA solution all transaction details on a VBA are made available on the header account in real-time. For clients with cash flows coming in on behalf of different legal entities and locations, VBAs can help streamline the cash management process.

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    ING's VBA solution at a glance

    • Local or cross-border set up, available in different currencies
    • Single or multi-entity structures to suit your organisation
    • Automatic transfers between VBA and cash pool header account in real-time
    • Real-time cash availability & visibility
    • Enriched reporting
    • No overnight balances
    • No debit/credit interest or overdraft/intraday limits
    • IBANs recognised in the local clearing

    Learn how to optimise your cash balancing in real-time with VBAs

    ING offers customised cash and liquidity management solutions to suit your organisational needs. We currently serve corporate clients and financial institutions in over 40 countries, pairing local and global insights with sector knowledge and financial expertise to provide greater cash flow control, visibility, and efficiencies for our customers.

     

    Contact your ING representative to know more about our offering.

    Explore Virtual Ledger Account

    Why partner with us

    Our purpose is to empower people to stay a step ahead in life and in business. So whatever your financial needs, whether you are looking to expand and want strategic advice, or just want to make your day-to-day banking more efficient, we are here to support your business ambitions.

    • Serving corporate clients and financial institutions in over 35 countries.
    • We pair local and global insight with sector knowledge with financial expertise.
    • We are ranked as a leader in sustainability and we are included in the FTSE4Good Index.
    • Euromoney

      Best bank for sustainable finance in Central & Eastern Europe

      2024
    • The Digital Banker

      Highly acclaimed best wholesale bank for sustainable finance in Europe

      2024
    • Global Finance

      Best bank for cash management in Central & Eastern Europe and Western Europe

      2024