Virtual Accounts

Virtual​ Accounts​ service​ by​ ABA​ Bank​ provides​ a​ smart,​ cost-effective​ solution​ for​ businesses​ that​ receive​ large​ volume​ of​ payments​ and​ spend​ a​ lot​ of​ time​ on​ reconciliations.​ If​ you​ are​ having​ trouble​ understanding​ who​ exactly​ is​ paying​ you​ and​ reconciliation​ is​ getting​ delayed​ because​ of​ manual​ processes,​ then​ ABA​ Virtual​ Accounts​ service​ is​ what​ you​ need!​

How it works

Key​ benefits

Real-time​ reconciliations

Collect​ payments​ from​ any​ channel

No​ manual​ errors

Reduce​ operational​ costs

With ABA Virtual Accounts, you can create multiple virtual accounts under a single business account and assign each virtual account to a paying customer, distributor, agent or branch and view the transaction statement instantly.

Virtual Accounts for ABA POS

Virtual Accounts integration with ABA POS terminals is a unique solution for businesses who receive and process payments at multiple retail stores. Businesses can simply log onto their ABA iBanking for Business platform and create Virtual Accounts for multiple stores in a few clicks and assign them to each POS terminal, eliminating manual reconciliations and maintaining real-time cashflows from different outlets.

Who​ can​ benefit​ from​ this?

With​ ABA​ Virtual​ Accounts,​ business​ owners​ can​ use​ any​ local​ payment​ channel​ to​ transfer​ into​ a​ virtual​ account.​ Incoming​ payments​ are​ reconciled​ automatically​ and​ instantly​ so​ you​ can​ release​ your​ customer​ credits​ faster,​ increase​ sales​ and​ focus​ more​ on​ your​ business​ while​ reducing​ operational​ costs.​ This​ service​ can​ be​ used​ in​ conjunction​ with​ other​ ABA​ iBanking​ for​ Business​ (IBB)​ services​ such​ as​ Host-to-Host​ solution.​

This​ service​ is​ free​ of​ charge​ for​ all​ ABA​ business​ accounts.​ If​ you​ want​ to​ learn​ more​ about​ how​ ABA​ Virtual​ Accounts​ service​ can​ benefit​ your​ business​​, approach​ your​ Relationship​ Manager​ at​ the​ nearest​ ABA​ Branch​ today.​ You​ can​ also​ contact​ us​ at​ 023​ 925​ 333​ or​ get in​ touch​ with​ our​ IBB​ team​ at​ [email protected]