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Effective financial management
commences with the use of
Virtual Accounts

payments with UPI QR

Virtual Accounts

Virtual accounts allow businesses like yours to track payments with a higher level of granularity. Each unique customer ID or Virtual Account number can be associated with specific invoices, orders, or customers, making it easier to reconcile payments.

There are zero setup and transaction fees when you choose IDFC FIRST Bank.


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Zero set-up and transaction fees

Zero set-up and transaction
fees

Different account number for different payers

Different account number
for different payers

Daily collection report that eases reconciliation

Daily collection report that
eases reconciliation

Payment gateway setup

How to step up and what’s the
process flow for Virtual
Accounts solution?

Please reach out to your nearest branch or contact your Relationship Manager to avail NACH /e-NACH registration and services.


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Benefits of IDFC FIRST Bank Virtual Account Number

Features

Privacy to your bank account number

Daily detailed MIS for reconciliation

Supports collection via NEFT/RTGS/IMPS

Real-time alerts for incoming fund transfers and exceptions

FAQs

What is Virtual Account No (VAN)?

Virtual Account Number / VAN is just an identifier to help reconcile your inward transaction which gets credited to your underlying KYC compliant business account.

Which type of payments can be made to a Virtual Account Number?
What are the typical use case of Virtual accounts?
Can a Virtual Account number be alpha-numeric?
Do your customers / payers need to know your Virtual Account number to make payments?
How many Virtual Accounts can you create?
Do we get a Virtual account statement in lines with Bank Statement
ON A MISSION TO BUILD THE WORLD’S MOST
CUSTOMER FRIENDLY BANK