Virtual IBANs

Power your business with Virtual IBANs

Clear Junction’s virtual IBANs are a highly effective, simple and efficient means of making frictionless cross-border payments. When used in conjunction with a Clear Junction account, financial institutions are able to send funds in a range of currencies for themselves or on behalf of their clients.

By linking your Clear Junction account to near-limitless virtual IBANs, you can gain easy access to domestic clearing schemes and boost in-house efficiencies. If your business needs to make a large number of transactions on a regular basis, virtual IBANs are a highly effective way of sending and receiving cross-border payments on an automated basis.


A virtual IBAN is an IBAN (International Bank Account Number) reference number that can be used to reroute incoming payments to a physical bank account. As a payment solution, they are especially suited to banks and financial institutions that often have to process a large number of international payments.

The virtual IBAN accounts that Clear Junction provides can be thought of as sub-accounts that are linked to a master account. In accessing and assigning virtual IBANs, businesses are able to send and collect payments around the world, thereby enabling them to enhance their customer offering and provide effective settlement services to customers on a global basis.

One of the advantages to virtual IBANs from the point of view of a business’s customers is that they work in exactly the same way as an IBAN bank account. After making a payment, the funds will be sent to the physical bank account that is linked to the virtual IBAN.


Generally speaking, sending and receiving a large number of international payments can result in exorbitant costs for a business. Then there is the complexity associated with performing so many transactions on an ongoing basis. However, by utilising virtual IBANs, businesses can transact globally quickly, efficiently and cost-effectively.

Virtual IBANs also remove the need for a given business to create, establish and maintain multiple banking relationships; by partnering with Clear Junction, financial institutions are able to access a master account that has virtual IBANs allocated to individual customers, thereby facilitating easy settlement and reconciliation. Having a relationship with Clear Junction enables your business to provide multi-currency and multi-jurisdictional banking solutions to customers without having multiple banking relationships.

The virtual aspect also negates the need for a physical presence in a given area of the world. Simply partner with Clear Junction, get your account set up and then access our virtual IBANs solution in a much faster way than would be the case if you were instead accessing traditional, physical bank accounts.