Banking

Virtual Account

Definition

Digital account without physical card.

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Account Number

A unique identifier assigned to a bank account for transactions.

ACH

Automated Clearing House - a US network for electronic bank-to-bank transfers, used for direct deposits, bill payments, and person-to-person transfers.

ACH Transfer

Automated Clearing House electronic fund transfer in the US.

Amortization

Spreading payments over multiple periods.

Available Balance

The amount of money in an account that is immediately available for withdrawal or use, excluding pending transactions and holds.

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Resources

Related Resources

Virtual Accounts Guide - Complete Virtual Accounts Guide

Virtual Accounts in India - Guide

Virtual Accounts in Nigeria - Guide

Virtual Accounts in United States - Guide

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