Virtual Account FAQs

1. Is the created virtual bank account unique for each end user?

Yes, the created virtual bank account is unique and can be identified by the account number returned by the "Create a virtual bank account" API. This ensures deposits are correctly attributed to the intended recipient.

2. How long does it take for a virtual bank account to be activated?

After creation, a virtual bank account starts in pending status while the bank processes the request. Activation typically takes 1–2 business days, depending on the bank.

You will receive a virtualAccountStatusUpdated webhook once the account moves to enabled and is ready to receive deposits. During the pending period, the account cannot accept incoming transfers.

3. Is there a minimum lock-in period for virtual bank accounts?

Yes. Virtual bank accounts have a 90-day minimum lock-in period from the date of activation. Closure requests submitted before the 90-day period will not be processed.

4. Are there fees for dormant virtual bank accounts?

Yes. If a virtual bank account has no transaction activity for an extended period, dormant account fees may apply. We recommend closing any VAs that are no longer needed to avoid unnecessary charges.

Contact your account manager for specific fee schedules and inactivity thresholds.

5. How do I close a virtual bank account?

To close a virtual bank account:

1. Ensure the 90-day lock-in period has passed.
2. Withdraw or transfer any remaining funds from the account.
3. Call POST /payment_methods/virtual_bank_accounts/{id}/disable to close the account.

Once closed, the account number is decommissioned and cannot be reused or reactivated. Any incoming transfers to a closed account will be returned to the sender. If reactivation is needed, please consult our technical support team on the use case.

6. Can customer profiles have their own virtual bank accounts?

Yes. You can create dedicated virtual bank accounts for individual customer profiles using the POST /v1/payment_methods/virtual_bank_accounts endpoint.

Each customer profile VA follows the same lifecycle (pending → enabled) and activation timeline.

7. What statuses can a virtual bank account have?

You will receive a webhook notification when the status changes.

8. What happens if a deposit is sent to a pending or disabled virtual bank account?

In both cases, the bank will reject the incoming payment and return the funds to the sender. No callback will be triggered on your side for the rejected deposit.

9. What currencies can be credited when a deposit is received into a virtual bank account?

You have flexibility in how deposits are credited:

The crediting behaviour is configured at the account level. Contact your account manager to set your preferred configuration.