Virtual Accounts
Your own account details, ready to receive in minutes.
Get dedicated CAD and USD account details in your business name, or create one for each of your customers. Incoming payments are screened, matched and credited to your balance, ready to pay out, convert or spend.
- Account holder
- Northwind Supply Ltd.
- Institution
- •••
- Transit
- •••45
- Account number
- •••• 7310
Virtual Accounts
What is included
Dedicated account details
Receive domestic transfers and international wires to account details issued for your business.
Sub-accounts for customers
Platforms can issue a virtual account per customer, seller or project and track each balance separately.
Automatic reconciliation
Every incoming payment is matched by account and reference; unknown payments are flagged for review.
One balance, every service
Use the funds for business payments, mass payouts, off-ramp and on-ramp, or card funding.
Virtual Accounts
How it works
- 01
Open the account
Once onboarding is complete, account details are issued in your business name.
- 02
Share the details
Give them to customers and partners, or create one per customer through the API.
- 03
Receive and use
Payments are screened, credited and ready to use across Veloflow.
Frequently asked questions
Whose name is on the account?
Your business name, or your customer’s name in platform programs. Account details are provided through our banking partners.
Is a virtual account a bank account?
No. It gives you dedicated details for receiving funds, held through our banking partners. Veloflow is not a bank and balances are not covered by CDIC deposit insurance.
How many virtual accounts can I open?
As many as your use case needs, from one account to one per customer. Limits are agreed during onboarding.
How do I know a payment has arrived?
You see it in the dashboard and receive an email or webhook as soon as it is credited.
Also from Veloflow
Ready to move money the easy way?
Tell us about your business and we will set up the right services for you.