What is a virtual IBAN and how do customers pay by bank transfer?
A virtual IBAN is a dedicated bank account number you can give a customer so they pay you by transfer, with no card. Fynex matches the incoming transfer to you automatically.
A virtual IBAN is a dedicated bank account number that belongs to you inside Fynex. You give it to a customer, they send a normal bank transfer to it — no card needed — and Fynex recognises the incoming payment and credits it to you automatically. It’s useful for larger invoices and customers who prefer to pay by transfer.
How customers pay by bank transfer
- Virtual IBAN — share your dedicated IBAN; the customer pays it like any other bank transfer.
- SEPA — euro bank transfers across the SEPA area.
- Open Banking — the customer authorises a transfer straight from their own bank, often faster than a manual transfer.
All three land as an incoming payment you can reconcile, the same as a card payment.
When to use it
Bank transfer suits high-value invoices (no card limits or card fees) and customers who simply prefer transfers. For smaller or one-tap payments, a payment link with cards and wallets is usually quicker.