Virtual Account

Collect payments from a large number of your customers with DBS Virtual Account (VA). By creating and assigning a VA to each of your payer, you can now easily identify the paying customer and the purpose of payments. All VAs that you create and assign to are electronically linked to your account registered for the VA. You may check your daily account activity via IDEAL^™, our online banking platform. If you have a business in Hong Kong that receives regular incoming payments from a large number of different customers, such as life and property insurers, investment trust companies, telecom companies, cable tv providers, schools and cram schools, then you may want to consider using VAs for better accounts reconciliation.

Why choose DBS Virtual Account?

• Save time and lower your administrative costs by assigning a VA number to each of your paying customer, for example, a main distributor or buyer, to help you keep track of all the payments from one paying customer
• Create instant VAs to suit your business needs. We do not maintain your payer database, so you are free to create and change the VA numbers assigned to your payers at any time
• Gain better control and insights of your day-to-day incoming funds from your key customers
• Check your summary and daily account activity for each VA via IDEAL^™, our online banking platform, which is easy to use and can be accessed in PDF, Excel and CSV formats

How do I apply?

Please speak with your relationship manager.