<p>You may have seen a “virtual IBAN” reason for your scores recently, but what does that mean ?&nbsp;</p>
<p>Despite what you may think, it does not mean that this IBAN is related to an online bank account.&nbsp;</p>
<h2>Definition&nbsp;</h2>
<p>The virtual IBAN (or VIBAN) is used by the companies to centralize and facilitate payments. A company can indeed create as many VIBAN as they want and link them to their“real” IBAN. VIBANs are then assigned to each payment sender for the funds to be forwarded to the company bank account.&nbsp;</p>
<p>Doing so, the payment sender doesn’t have to fill a large amount of information for the recipient to identify what is the payment related to. <a href="" target="_blank">The virtual IBAN data is shown in bank statement with the labels/tags/flag dedicated, according to what was chosen by the company.</a>&nbsp;</p>
<h2>Advantages:</h2>
<ol>
<li>Payment senders can easily send money and do not take the risk to mistakenly share a wrong ID number that they would also have had to look for. In short, it is easier, quicker and safer&nbsp;</li>
<li>Beneficiaries can easily identify the reason and the source of the payment received&nbsp;&nbsp;&nbsp;</li>
</ol>


You may have seen a “virtual IBAN” reason for your scores recently, but what does that mean ? 
Despite what you may think, it does not mean that this IBAN is related to an online bank account. 
Definition 
The virtual IBAN (or VIBAN) is used by the companies to centralize and facilitate payments. A company can indeed create as many VIBAN as they want and link them to their“real” IBAN. VIBANs are then assigned to each payment sender for the funds to be forwarded to the company bank account. 
Doing so, the payment sender doesn’t have to fill a large amount of information for the recipient to identify what is the payment related to. The virtual IBAN data is shown in bank statement with the labels/tags/flag dedicated, according to what was chosen by the company. 
Advantages:
Payment senders can easily send money and do not take the risk to mistakenly share a wrong ID number that they would also have had to look for. In short, it is easier, quicker and safer 
Beneficiaries can easily identify the reason and the source of the payment received   

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