A Business Virtual Account benefits businesses that have frequent electronic payments from multiple distributors. To help the business manage each payment in regards to speed, flow, and accounting, HSBC offers Virtual Accounts that are uniquely assigned to each of your payers. Virtual Accounts are electronically linked to the Master Account.
Reduced effort, time, and cost (Administrative, Cash Management, Collection)
Reduced turn around time
Real time reconciliation
Increased cash flow
Each of your distributors is assigned a virtual account so that your company will be able to differentiate each payment. This effectively eliminates any chances of funds commingling. The payments to Virtual Accounts will automatically flow into your Master Account at the end for your convenience and peace of mind
Pricing : Please refer to your Relationship Manager for Pricing