Receivables

Virtual accounts

Virtual Accounts

Is it difficult for you to differentiate each payment and its type from the payment source? Is it confusing & manual? Is it untimely? Not anymore!

IDFC Bank’s Virtual Account solution promises to make things simpler and more streamlined. With this, the payments transferred to the various Virtual Accounts (electronic as well as paper) will be automatically directed into your master account. What’s more! The Virtual Accounts can also be integrated into your company's ERP system for seamless reconciliation of accounts. 

 

Services:

  • Enhanced reconciliation rate
  • Embeds useful payer information in each account number
  • Customised analytics to help you make strategic decisions
  • Real-time email alerts for incoming fund transfers and exception

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