HSBC Virtual Accounts Payer Identification

A better way to manage your accounts receivables

HSBC Virtual Accounts Payer Identification

Bring greater efficiency, control and visibility to your accounts receivables with Virtual Accounts Payer Identification. Every deposit automatically identifies the originator of incoming payment, eliminating the time-consuming job of matching payments with suppliers and invoices.

How it works

How it works flow chart

Step 1; Your payers deposit or pay funds to their individually assigned unique virtual account

Step 2; Funds are instantly credited to your main account with the payment originator or pre-defined reference information enabling immediate and automatic payer identification

Step 3; View collection reports on HSBCnet to track all deposits received through virtual accounts, expediting the daily reconciliation process

Benefits

Automated payer identification
Automatically identify each payer without relying on remittance information in the payment transaction

Scalable
Up to 100,000 virtual account numbers can be created and linked to your master account

Optimized working capital cycle
Unlock funds quickly and improve credit control with automatic reconciliation of collection information

Faster and more efficient
Ensure automatic posting of electronic deposits to your main account, which frees up resources from manual reconciliations to other productive tasks

Easy set-up process
Eliminate the need to open any additional physical accounts to track your payers

More information

Questions? Ready to get started?

Questions? Ready to get started?

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