What is a virtual account, and how does it work?
Virtual accounts and dedicated NUBANs explained — how money routed to a virtual account reaches the right business.
A virtual account (often a dedicated NUBAN) is a real, working bank account number assigned to a business or customer for collecting bank transfers. Here's how it works.
The idea
Instead of one shared account where you can't tell whose money is whose, each business gets its own account number. When someone transfers to it, we know exactly which business to credit — automatically.
Static vs dynamic
- Static accounts are permanent — great for a business to display on invoices and checkouts.
- Dynamic accounts are generated per transaction — useful for one-off collections where you want to match a specific payment.
Why it's better than a shared account
- Automatic reconciliation — no matching transfers by hand.
- Instant credit — the inflow lands in the right wallet immediately.
- Trust — a business NUBAN shows your business name to the payer.
How the money reaches you
- Your customer transfers to your dedicated account number.
- The bank notifies us via a secure webhook.
- We credit your business wallet's available balance instantly.
- You withdraw whenever you like.
Where you see it
In your dashboard you'll find your account number, bank, and account name. Share it anywhere you want to accept transfers.
Virtual accounts turn "please send to this account and email me proof" into an automatic, instant, reconciled flow.
Start accepting payments
Create your TwelveAI Business account and take your first payment today.
Get started free