Dedicated GB IBAN and virtual IBANs
Eligible 2PayApp customers may receive access to a dedicated GB IBAN and virtual IBANs for approved business-payment flows.
These account identifiers can help companies receive, identify and reconcile incoming payments.
What is a dedicated IBAN?
A dedicated IBAN is an account identifier assigned for use by a specific business customer.
It may be used to receive approved customer payments, acquiring settlements and other commercial transfers.
Available payment rails depend on the underlying account configuration.
What is a virtual IBAN?
A virtual IBAN is an account identifier linked to an underlying account arrangement. It can be assigned to a particular:
Incoming payments can then be associated with the relevant source.
A virtual IBAN does not necessarily constitute a separate bank account.
Organise incoming flows with clarity
Virtual IBANs for merchant settlements
Merchants may use virtual IBANs to separate settlement payouts received from different acquiring providers, websites, stores or business divisions.
This can reduce manual reconciliation and make incoming payment records easier to analyse.
Virtual IBANs for multi-entity businesses
Holdings and business groups may use virtual IBANs to distinguish approved payment flows connected with different entities or projects.
The legal ownership and permitted use of each virtual IBAN depend on the underlying account arrangement and provider terms.
The number of virtual IBANs, supported currencies and permitted payment types are determined during onboarding.
Frequently asked questions
Check virtual IBAN availability
Tell us how you receive payments and how you'd like to separate incoming flows.