HSBC Virtual Account Management

HSBC Virtual Accounts

Reimagine Your Corporate Treasury

The strategic role of treasury has taken on great importance for companies looking for ways to improve upon their management of cash and liquidity. Companies are looking for innovative solutions to adapt to the changes in technology and regulatory requirements, with opportunities to transform working capital management with greater control and centralization.  

Virtual Accounts illustrates HSBC’s longstanding commitment to provide forward-thinking payment solutions allowing companies the ability to reimagine corporate treasury. Virtual Accounts support both receivable and payable payment types and allows a company to improve receivable reconciliation, and effectively manage centralized payment processes. 

Learn more about HSBC’s Virtual Account solution, and how companies can achieve cost savings, account security, reduce manual processes and streamline reconciliation below. 

Why HSBC Virtual Accounts?

Our next generation Virtual Account proposition enables you to:

Designate individual Virtual Accounts to represent your business units, affiliates, customers and more.

Concentrate cash in one physical account, while the Virtual Accounts provide reporting to support daily reconciliations.

Manage your Virtual Account structure using our self-service tool.

HSBC Virtual Accounts - Explained

How Our Clients Use Virtual Accounts

HSBC's solution and consultative approach has helped us drive efficiency, streamline our account management and improve our weekly reconciliation process, reducing reconciliation time by 75%.

Dan Witt | Director of Finance, Prym Consumer USA

Simplifying receivables

See how Prym USA is enjoying greater efficiency with faster and easier accounts receivable reconciliation with HSBC.

HSBC Virtual Accounts Customer Solutions

Online Collections

A consumer products company was able to segregate their incoming retail payment information and improve efficiency with their reconciliation process.

Operations Management

A renewable energy developer chose virtual accounts to support its deployment of project funding and segregate project-related payment information for incoming collections.

Retail Collections

A retail company assigned virtual accounts to its retail locations, allowing for the centralization of all incoming payments, while respecting the segregation of payment information.

Risk Mitigation

An equipment manufacturer uses virtual account numbers as a means of payer identification for incoming payments, without exposing physical account numbers.

Centralized Treasury

A professional services company adopted virtual accounts to simplify its bank account structure, maintaining robust reporting to facilitate its efficient cash and working capital management processes.

Third-Party Funds

Non-Bank Financial Institutions (NBFI’s) that manage funds on-behalf-of their underlying clients can use virtual accounts to support the segregation of payment information on those client funds.

The Power of Virtual Accounts

Why are virtual accounts one of the top innovative products in banking?

Virtual Accounts allow for sub-ledger reporting of transaction data, while the settlement of your funds naturally concentrate into your physical bank account.

Virtual Accounts provide a solution to reduce the number of managed physical accounts, while respecting the detailed transaction and balance information needed for reconciliation.

Any number of Virtual accounts can be associated to your physical bank account, and you assign the purpose for each Virtual Account.
A virtual account structure supports both receivable and payable payment types and allows the company to self-allocate virtual accounts and define required reporting.  HSBC’s Virtual Account solution can deliver cost savings, account security, reduce manual processes and streamline reconciliation.

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