Virtual Accounts Overview

A virtual account is a dedicated Nigerian bank account number assigned to a specific customer. It provides a simple way to receive NGN payments directly from the customer's bank account or other payment channels.

When a payment is made to a customer's virtual account, the funds are identified and credited to the customer's NGN balance.

Each virtual account is uniquely linked to a customer.

Virtual accounts can be used to:

Receive NGN payments from customers.

Automatically credit incoming funds to the associated customer's NGN balance.

Provide customers with a dedicated account number for recurring or one-time payments.

The virtual account serves as a dedicated payment channel for receiving NGN funds, while the corresponding funds are reflected in the customer's NGN balance.