Personal Banking | Business Banking

Collections

Virtual Account

PB enterprise Virtual Account Service is an integrated Cash Management solution designed to facilitate collections and receivables for your business. This service will enable you to manage and organise all your client’s incoming remittances regardless of the payment type.

What Virtual Account offers you:

Get Started Quickly

Easy to apply and does not require opening another new account.

Enhanced Business Efficiency

Improve business turnaround time for accounts reconciliation, cashflow and working capital.

Organise Accounts Receivable

Easier and more manageable process for consolidation and tracking payments from clients.

Time Saving

Reduce administrative and manual processes involved with cheque and cash collection.

How does Virtual Accounts Work?

With PB enterprise Virtual Account, you will be provided with a range of virtual account numbers for you to distribute to your customers. Each customer will have a unique virtual account number assigned by you.

Customers will use these Virtual Accounts to make payments to you through either physical or electronic payment channels. Upon receiving these payments, the Bank will credit all payments into your selected Public Bank Current Account.

Your customer’s virtual account numbers will be shown in your bank statement, allowing you to identify and organise your receivables with ease for reconciliation.