Banking Circle® Virtual IBAN
Saxo Payments Banking Circle® Virtual IBAN gives FX and Payments businesses a crucial competitive edge to enhance their service proposition. By joining the Banking Circle, FX and Payments businesses can issue multi-currency IBAN accounts for customers in their own name and in multiple jurisdictions.
Virtual IBAN benefits for FX and Payments businesses
Building on the already successful Banking Circle platform, Banking Circle Virtual IBAN delivers full transparency and faster settlement, enabling FX and Payments businesses to offer a full transactional service to their customers.
Key benefits for FX and Payments businesses include:
- Fast account set up
- Local clearing capability plus cross border payments through the SWIFT network
- Ability to leverage the Banking Circle network to make and receive payments instantly
- Payments and FX API connectivity
- Access to an award-winning FX platform via web, tablet and mobile
- Same day settlement for SEPA payments
By giving customers their own virtual IBANs, Banking Circle Virtual IBAN provides FX and Payments businesses a number of key advantages:
- No need for multiple banking relationships – Banking Circle Virtual IBAN provides a multi-currency, multi-jurisdictional solution
- Improved payments acceptance, settlement times and reconciliation because payments are made in the name of the Virtual IBAN account holder
- Reduced AML and KYC risk as a result of end to end transparency and clear segregation of funds
Contact us to find out more