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 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 Business​ 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​ ABA Business​ team​ at​