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Wholesale Banking

Virtual Bank Account

Concentrate cash across separate treasury sub-accounts in real time, with automatic transfers centralising all incoming transactions received on subsidiary accounts to a cash pool header account. 

There’s no denying that Virtual Bank Accounts (VBAs) are still a hot topic among the treasury community. While you may have heard of VBA before, their usage is rapidly evolving – and their benefits for treasurers continue to grow.

Lets have a look on how ING’s VBA works. After all, the concept means different things to different people. 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.

Decorative image-virtual bank account- a woman and a man working in front of a computer and are productive

 

Real-time liquidity & cash flow overview

 

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 and by that improve the visibility on cashflows.

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 minimise idle cash.

Automated funding of local accounts
The consolidated balance on the cash pool header account is used to pre-fund outgoing payments send 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.

Businessman in glasses laughing on the street as he chats on the phone

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.

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.
  • Global Capital

    Most impressive investment bank for corporate ESG capital markets and advice

    2023
  • Global Finance

    Outstanding leadership in sustainable bonds (global) & sustainable project finance (Western Europe)

    2022
  • Global Capital

    Most impressive investment bank for financial institutions

    2021