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Accounts and identifiers

Dedicated GB IBANs and virtual IBANs: what each one is, how they help reconcile incoming payments, and why not every customer receives them.

Does every customer receive a GB IBAN and virtual IBANs?No. A dedicated GB IBAN may be available depending on eligibility, compliance approval and account configuration, and virtual IBANs are not included for every customer either.

How do virtual IBANs help with reconciliation?A virtual IBAN gives an incoming payment a source before anyone looks at it.

What is a dedicated GB IBAN?A dedicated IBAN is an account identifier assigned for use by a specific business customer under the applicable account arrangement. It may be used to receive approved customer payments, acquiring settlements and other commercial transfers.

What is a virtual IBAN?A virtual IBAN is an account identifier linked to an underlying account arrangement.