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Virtual Account

Assign a virtual account to each of your customers for easy payment collection

Collect payments from a large number of your customers with DBS Bank (Taiwan) Ltd Virtual Account (VA). By creating and assigning a VA to each of your payer, you can now easily identify the paying customer and the purpose of payments. All VAs that you create and assign to are electronically linked to your account registered for the VA. You may collect up to 12 different currencies and check your daily account activity via IDEAL™, our online banking platform. If you have a business in Taiwan that receives regular incoming payments from a large number of different customers, then you may want to consider using VAs for better accounts reconciliation.

 

Why choose DBS Virtual Account?

  • Save time and lower your administrative costs by assigning a VA number to each of your paying customer, for example, a main distributor or buyer, to help you keep track of all the payments from one paying customer
  • Create instant VAs to suit your business needs. We do not maintain your payer database, so you are free to create and change the VA numbers assigned to your payers at any time
  • Gain better control and insights of your day-to-day incoming funds from your key customers
  • Check your summary and daily account activity for each VA via IDEAL™, our online banking platform, which is easy to use and can be accessed in PDF, Excel and CSV formats

FAQs

What is a VA?

A VA is an account created and assigned to each of your paying customer, for example, a main distributor or buyer, so that your company will be able to differentiate each payment from the payment source. The payments made to the different VA will be automatically directed into your account registered for the VA.

Do I need to have a DBS Bank (Taiwan) Ltd Business Account to use VA?

Yes, you will need to have a Business Account with us in order to use this service. Your business account will act as your account registered for using VA.

How many VA numbers can I create?

Each VA number has 14 digits. All you have to do is to customise the last 9 to 11 digits of your VA number and assign that VA number to one of your paying customers. You repeat the same process for other paying customers.

When my customer pays me through the VA number, does the fund go directly to the VA or my account registered for the VA?

The funds will go directly to the account registered for the VA, since the VA serves only as a mirror account for the account registered. The purpose for a VA is to help your business accounting with a better process for consolidation and tracking of payments from the same payer.

Which account should I register for the VA?

The main business account that you hold with us is referred to as the account registered for the VA.

Is there a fee to use the VA services?

Yes, we charge TWD 5 for each VA transaction.

 

How do I apply?

Please call us at 0800 808 889 (or +886 2 6612 9889 if you are overseas) and we’ll arrange for a Relationship Manager to assist you.

Get In Touch

DBS BusinessCare: 0800 808 889

Get In Touch

DBS BusinessCare: 0800 808 889

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