Virtual Account Numbers

Virtual Account Numbers (virtual nuban) are unique 10-digit numbers that allow account owners to receive money via bank transfers from any bank in Nigeria. Virtual account numbers (virtual NUBAN) are simply collection account numbers.

Like all account numbers in Nigeria, virtual nubans can receive payments via bank transfer from any bank in Nigeria. Virtual account numbers (virtual NUBAN) don't hold balance and you can’t send money out of it (you can send money out from a deposit account or sub account and not a virtual nuban).

We partner with different banks to issue these virtual account numbers. Some of our partner banks include: Providus, GTB, Wema, Ninepsb. We are working to increase this to include more banks. This means that you can choose which bank to be issued for your account at the point of creating the virtual account number.

A RESERVED virtual account number is permanent virtual account number that does not expire. This type of virtual account number can be used to receive multiple payments from different senders.

FAQ: What is the difference between a virtual nuban, and deposit account?

• A virtual nuban is a collection account, an account number your customers can make transfer to. it doesn’t hold balance and you can’t send money out of it.
• A deposit account is bank account that holds balance. It can receive money, can store money and can be used to send money.
• A sub account is similar to a deposit account but it doesn't actually hold the money. Instead the money sits in the parent account the sub account is tied to. Just like a deposit account, a sub account has balance and transactions as well.

FAQ: What is the relationship between a virtual nuban, deposit account and sub account?

The relationship between a virtual Nuban and both deposit & sub accounts is that virtual Nuban is a means of collecting money into both deposit account and subaccount. Basically termed as creating an Account Number for a deposit account or subaccount.