Virtual Accounts

Barclays’ Virtual Account platform enables clients to replace and rationalise physical accounts, create complex virtual account structures and streamline their receivables and payments processing.

With near real time reconciliation and reporting and a single view of all your cash balances, enjoy staying in control with Barclays Virtual Accounts. Arrange your cash your way, with multi-currency and multi-country capabilities, and a single sign on via iPortal keeps things simple.

Reduce admin, costs and complexity, supporting your regulatory and client requirements, meaning that you can make the very best use of your available liquidity.

With Barclays Virtual Accounts in place, you immediately have much greater control. You can easily create and manage your own users, account structure, payments and reporting. Open, close and manage accounts yourself, with no paperwork. Approving payments is streamlined and integrated in your workflow using dual factor authentication with digital signatures.

Barclays Virtual Accounts enables you to segregate your current account set up and establish auto allocation rules on real accounts. Simplify receivables and reconciliation using virtual IBANS, and access clear views of credit from customer accounts in near real time.

Barclays Virtual Accounts is comprehensive and flexible – you can customise your account structure as you want – and it’s scalable as your needs and your business grow.

If you’re interested in exploring further, please contact your Relationship Director or Cash Manager to discuss how Virtual Accounts can benefit you.