Virtual IBANs

A smarter alternative to international banking

Create Virtual IBANs with IFX Payments, simplifying how you receive and manage payments across currencies and markets.

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How Virtual IBANs support your business

Setting up Virtual IBANs within our platform gives you a cleaner, more controlled way to collect funds, reconcile activity, and scale payment operations with confidence.

Go to market quicker

Go to market quicker

Manage business funds from your Virtual IBAN as soon as you onboard. Open more accounts with IFX as volumes grow.

Open multi-currency accounts

Open multi-currency accounts

Send and receive in 40+ currencies within a single IBAN. Access currency balances in the platform and convert funds at an appropriate time.

Reduce banking complexity

Reduce banking complexity

Centralise collections into a single multi-currency account, while maintaining logical fund separation without opening multiple bank accounts abroad.

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Simplify reconciliation

Each Virtual IBAN acts as a unique identifier, enabling incoming payments to be segregated, reducing the need for manual intervention and cumbersome reconciliation.

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Built for high volume cross-border payment flows

Virtual IBANs are particularly valuable for organisations operating across borders, managing multiple counterparties, or handling high volume payment flows.

We support:
• High-volume collections from multiple payers
• Organising funds by business unit, or activity
• Cross-border payment and treasury operations

Integrate our Virtual IBAN product directly into your wider payments and FX workflows.

Features of our platform

Open a virtual IBAN account with IFX Payments and gain access to these features.

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Multi-currency accounts

Through working with Tier-1 banking partners, we provide access to over 40 currencies.

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Local and international payment rails

Send using Swift, SEPA and FPS (in the UK) payment rails.

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Competitive FX costs

We offer competitive rates on FX transfers and can tailor pricing to your payment volumes.

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API connectivity for automation and reporting

Integrate our capabilities into your existing tech stack using our API.

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Read more about Virtual IBANs here

Find out how to select a Virtual IBAN provider for your business and read through the benefits of IFX Payments’ offering.

Read more

Virtual IBAN with 40+ currencies

Support inbound and outbound payments in over 40 currencies from your virtual IBAN account

View supported currencies
GBP AUD JPY HKD NOK AED EUR USD DKK CAD ISK SEK British Pound Sterling (GBP) Australian Dollar (AUD) Japanese Yen (JPY) Hong Kong Dollar (HKD) Norwegian Krone (NOK) United Arab Emirates Dirham (AED) Euro (EUR) United States Dollar (USD) Danish Krone (DKK) Canadian Dollar (CAD) Icelandic Króna (ISK) Swedish Krona (SEK)
Swedish Krona (SEK) British Pound Sterling (GBP) Australian Dollar (AUD) Japanese Yen (JPY) Hong Kong Dollar (HKD) Norwegian Krone (NOK) United Arab Emirates Dirham (AED) Euro (EUR) United States Dollar (USD) Danish Krone (DKK) Canadian Dollar (CAD) Icelandic Króna (ISK) Swedish Krona (SEK) British Pound Sterling (GBP) Australian Dollar (AUD) Japanese Yen (JPY) Hong Kong Dollar (HKD) Norwegian Krone (NOK) United Arab Emirates Dirham (AED) Euro (EUR) United States Dollar (USD) Danish Krone (DKK) Canadian Dollar (CAD) Icelandic Króna (ISK)
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Discover a better way to receive and manage payments

Virtual IBANs help bring structure, clarity, and control to incoming payments, removing the necessity for traditional banking setups. Get in touch to begin scaling your business more effectively.

FAQs

A virtual IBAN (vIBAN) is a unique account identifier that looks and works like a standard IBAN, but isn’t tied to its own standalone bank account. Instead, each vIBAN routes payments to a central master account held by a regulated financial institution. The sender sees a normal IBAN and makes a normal bank transfer. Behind the scenes, the vIBAN tells the provider which client, currency, or use case the funds belong to.

A regular IBAN maps 1:1 to a single bank account. A virtual IBAN sits as a unique identifier on top of a master account, so you can have multiple vIBANs running through the same underlying structure.

The practical difference is flexibility. With a regular IBAN, separating funds by client, currency, or region usually means opening a new account each time. With vIBANs, you can create sub-accounts under one master account and reconcile incoming payments automatically against the vIBAN they landed in.

Through ibanq, our online platform, you can hold, send, and receive funds in 40+ currencies via a Multi-Currency Account, with the option to open up multiple sub-accounts, each with its own IBAN. That lets you separate funds by client, region, brand, or use case without setting up local accounts in each market.

Virtual IBANs are typically used by businesses that handle high volumes of incoming payments, operate across multiple currencies or jurisdictions, or need cleaner reconciliation. That includes SMEs trading internationally, ecommerce and marketplace businesses, fintechs building payment products on top of regulated infrastructure, and fund administrators managing flows across multiple vehicles.

If reconciliation, currency segregation, or cross-border payment volumes are slowing you down, a vIBAN setup is worth considering.