Payments

HSBC Virtual Accounts Payer Identification

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

How it works

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

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