Virtual Account Collections Services - AU Small Finance Bank
AU Bank

Virtual Account Collections Collections & Receivables - Virtual Account Collections

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About Virtual Account Collections

    In Virtual Account Collections a unique Virtual Account Number is given to each fund sending party to identify the funds received from that particular party. It masks the original account number and tracks payments through these virtual account numbers of payers. This simplifies the process of collecting information and MIS generation.


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Features

  • Easy Fund Management - Virtual Account Number improves fund management, additionally saving cost for both you and the payers
  • Safety First - With the Virtual Account Number, your real account number in the core banking system is protected


Benefits

  • Ease of reconciliation of account receivables due to availability of information payerwise
  •  Funds can be received from these virtual account numbers through NEFT(National Electronic Funds Transfer) & RTGS (Real Time Gross Settlement)


Empowering Customers