Virtual accounts (virtual IBANs)

Roles that need it

• Cash Management Product Manager
• Corporate Treasury Analyst
• Transaction Banking Analyst
• AML Analyst
• Transaction Banking Sales (Cash Management)

Skills it belongs to

• Cash management and transaction banking products
• Order to cash and procure to pay operations

Related concepts

• IBAN (International Bank Account Number)The IBAN is the international standard identifier of a bank account, defined in ISO 13616. It has up to 34 characters: a two-letter country code, two check digits and the national account number (BBAN), for example 22 characters in Germany and 27 in France. In SEPA the IBAN alone is enough to make a payment.
• In-house bankAn in-house bank is a group treasury entity that acts as a bank for the group's subsidiaries: it keeps internal accounts for them, nets and settles intercompany flows, lends and borrows internally and makes external payments on their behalf. It concentrates liquidity and foreign exchange risk and reduces the number of external bank accounts.
• camt.054 (debit and credit notification)camt.054 is the ISO 20022 message a bank sends to notify a customer of individual debits or credits on its account, often in near real time or with the detail of a batch. Companies use it to match incoming payments to invoices and to see the content of bulk payments. It replaces the Swift MT 900 and MT 910.
• Remittance informationRemittance information is the data in a payment that tells the payee what the payment is for, such as invoice numbers. It can be unstructured free text (140 characters in SEPA) or structured, such as a creditor reference under ISO 11649 starting with RF. Good remittance data lets the payee match payments to invoices automatically.

Sources

• Directive (EU) 2024/1640 on mechanisms to prevent the use of the financial system for money laundering or terrorist financing, EUR-Lex (external site) accessed 31 Oct 2026

Updated 31 Oct 2026.