Accounts

What is a multi-currency virtual account?

Multi-currency virtual account is a financial instruments that helps platforms to collect funds in multiple currencies

To create a multi-currency virtual account, platforms can simply utilise Decentro's Create Virtual Account API by passing the following details:

1. Reference Id
2. Consumer unique reference number
3. Name
4. Master account alias
5. Narration and
6. Currencies

What is a currency account?

Currency account is a subset of multi-currency virtual account. For each currency that a virtual account supports for collection, Decentro creates a currency account in its system. A currency account is comprised of the following details -

1. Account name
2. Account number
3. SWIFT code
4. IBAN (if applicable)
5. Bank code (if applicable)
6. Branch code (if applicable)
7. SWIFT code
8. Routing type and code
9. Bank name