Virtual Account - VA | DBS CN Corporate Banking

Virtual Account

Easily identify paying customers and payment purposes

Virtual Account

Easily identify paying customers and payment purposes

At a Glance

Assign a Virtual Account (VA) to each of your customers for easy reconciliation of your collections.

Clarity

Identify your payers and the purpose of payments clearly

Connected

All VAs are electronically connected to your registered account

Convenience

Check your daily account activity via IDEAL easily

Features & Benefits

Save time and lower costs

Assigning a VA number to each paying customer helps you keep track of payments from each of them

Create instant VAs

You are free to create and change the VA numbers assigned to your payers at any time

Better control and insights

Manage your day-to-day incoming funds from your key customers easily

Stay updated

Check your summary and account activity for each VA via DBS IDEAL (our online banking platform) or IDEAL Connect (our host to host solution). Easy to use and access in PDF, Excel and CSV formats

How to Apply

Call us on 400 821 8881 or visit any of our Branches for more details. You may also email us and arrange our Relationship Manager to call you.

FAQs

	What is a Virtual Account?
	A Virtual Account (VA) is an account created and assigned to your customers, e.g. a main distributor or buyer. This makes it easy for your company to differentiate each payment from the payment source. The funds paid to the master account will be mapped to different VAs according to different payment sources, which is convenient for you to reconcile the payments.

	Do I need a DBS Business Account to use a VA?
	Yes, you will need to have a Business Account with us to use this service. Your business account will act as your Master Account that gets credited when your payers pay into a Virtual Account.

	How many VA numbers can I create?
	You can create as many VA numbers as required for your business. Each VA number has up to 23 digits. All you have to do is to customise the last 16 digits of your VA number and assign that VA number to one of your paying customers. You repeat the same process for other paying customers.

	When my customer pays me through the VA number, does the fund go directly to the VA or my account registered for the VA?
	The funds will go directly to the account registered for the VA, since the VA serves only as a mirror account for the account registered. The purpose for a VA is to help your business accounting with a better process for consolidation and tracking of payments from the same payer.

	How many days does it take to register for a new VA?
	It takes one working day to register a new VA.

	How soon can I obtain the VA reports via IDEAL?
	The reports are available via IDEAL at T+1.

	Is there a fee to use the Virtual Account services?
	Yes, please refer to our pricing guide.

Get in Touch

Business Account

Email DBS BusinessCare

Our Branches and ATMs