UC Virtual Accounts

What can you expect?

UC Virtual Accounts offers you, as a user with a complex organization, a company-wide overview of the financial status without overblown account structures. Furthermore, this solution includes flexible handling of bank accounts as well as efficient liquidity optimization without necessitating daily intercompany transfers (as is the case with cash pooling).

How does it work?

Based on a real bank account, many virtual account numbers can be created and allocated within a structure you have specified. The basis for this is the 22-digit IBAN. For the last nine digits (IBAN position 14 to 22), you can assign customized account numbers. The IBAN’s check digit scheme also guarantees error-free processing, preventing incorrect entries.

What’s in it for you?

• You reduce the number of bank accounts and increase transparency
• You simplify your account management
• The account opening procedure will become much easier
• The reducing of the number of real bank accounts entails more transparency, cost optimization, and clarity
• The improved debtor and creditor management frees up resources
• You profit from an easy and flexible handling of accounts independently of the bank
• You strengthen your liquidity without using cash pooling