HSBC Virtual Accounts

Designate individual Virtual Accounts to represent your business units, affiliates, customers and more.

Concentrate cash in one physical account, while the Virtual Accounts provide reporting to support daily reconciliations.

Manage your Virtual Account structure using our self-service tool.

A consumer products company was able to segregate their incoming retail payment information and improve efficiency with their reconciliation process.

A renewable energy developer chose virtual accounts to support its deployment of project funding and segregate project-related payment information for incoming collections.

A retail company assigned virtual accounts to its retail locations, allowing for the centralization of all incoming payments, while respecting the segregation of payment information.

An equipment manufacturer uses virtual account numbers as a means of payer identification for incoming payments, without exposing physical account numbers.

A professional services company adopted virtual accounts to simplify its bank account structure, maintaining robust reporting to facilitate its efficient cash and working capital management processes.

Non-Bank Financial Institutions (NBFI’s) that manage funds on-behalf-of their underlying clients can use virtual accounts to support the segregation of payment information on those client funds.

Virtual Accounts allow for sub-ledger reporting of transaction data, while the settlement of your funds naturally concentrate into your physical bank account.

Virtual Accounts provide a solution to reduce the number of managed physical accounts, while respecting the detailed transaction and balance information needed for reconciliation.

Any number of Virtual accounts can be associated to your physical bank account, and you assign the purpose for each Virtual Account.