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Virtual Accounts

Automatic attribution for inbound fund flows

Create and manage virtual accounts within your bank accounts via a simple API and web app.

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How it works

How it works illustration

1. Connect your bank account to Modern Treasury.

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2. Set up as many virtual accounts as you need using the API or web app.

How it works illustration

3. Receive payments directly into virtual accounts.

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4. Modern Treasury automatically reconciles payments to the right virtual accounts.

Reconcile incoming payments reliably

Create and assign virtual accounts programmatically

Issue virtual accounts to users, invoices, or other entities directly from your product with the Virtual Accounts API.

Detailed context on every payment received

Each transaction comes with Incoming Payment Details which include bank data essential for accurate reconciliation, like virtual account numbers and transaction codes.

Manage payment returns easily

Create and reconcile returns against payments received by Virtual Accounts using the API or web app to simplify handling transaction disputes and errors.

One API for multiple payment methods

Receive payments directly into virtual accounts over ACH, Wire, and RTP through a single integration.

Modern Treasury is one place to set up and manage virtual accounts at multiple banks.

Embed financial services in your app

  • Offer a complete banking experience in your app by attaching Ledgers to Virtual Accounts to track user balances and transactions with double-entry accounting.
  • Assign unique virtual account numbers to verified users by linking Virtual Accounts to Counterparties using the API.
  • Receive automatic balance and transaction notifications as payments are made to provide users real-time updates on their finances.

Manage FBO accounts with full visibility

  • For Benefit Of (FBO) accounts provide a standard legal arrangement for companies to manage funds on behalf of their customers within a single account.
  • Issue unique virtual account numbers within your FBO account to automatically attribute incoming and outgoing payments and returns to the right users.
  • All payments are published to the web app in real time, making it easy to monitor transaction activity in your FBO account with built-in reporting.

Try Modern Treasury and see how smooth payment operations can be.