HSBC Virtual Accounts

Effectively identifying customer payments is essential to ensure accurate and efficient operation. It improves customer satisfaction resulting in future business opportunities.

Effectively identifying customer payments is essential to ensure accurate and efficient operation. It improves customer satisfaction resulting in future business opportunities.

Virtual Account is a tool to help our clients identify their payers for all incoming payments regardless of the remittance
information quality. With Virtual Account the following are eliminated:

  • Payers not providing the right information to help identify them in the payment reference
  • Payers providing unrecognisable payment references
  • Banks and clearing systems’ infrastructure not supporting the transmission of lengthy and/or complex remittance information
  • Payments made on behalf of an ultimate payer with details not being presented in the transaction

By assigning a unique Virtual Account number per payer, HSBC customers can use the Virtual Account number or a pre-defined reference to identify the payer for every single account transaction.

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Please be aware that the external site policies will differ from our website terms and conditions and privacy policy. The next site will open in a new browser window or tab.