How can I create Virtual Accounts?

There are various ways to create virtual accounts which depends upon the type of model which the BVNK customer is using. The differences are explained below.

Direct Customer

In the model with BVNK where the business is a direct customer, fiat wallets can be created upon request from contacting the Customer Success Manager, Account Manager, or through Customer Support.

Customer Virtual Accounts and Embedded Wallets

Customer Virtual Accounts

BVNK's Customer Virtual Accounts allow businesses to integrate our payment capabilities directly into their platform for their customers to use. The key advantage is that your customers can access BVNK's payment infrastructure while maintaining only one contractual relationship—with you. BVNK has no direct contractual engagement with your end users.

Embedded Wallet

Our Embedded Wallet solution enables partners to serve as technical facilitators of BVNK's payment capabilities within their own ecosystem. Unlike the Customer Virtual Accounts model, BVNK establishes direct contractual relationships with each end user, while you provide the technical interface and user experience.

With both of these products, wallets for customers are created in the BVNK Portal by selecting the  Customer and adding a wallet. Similarly, wallets can be created through the API route by using the Endpoint described in this step in the API documentation.

How to set up accounts BVNK Portal.

1. Navigate to the specific customer on the My Customers tab
   • From your BVNK Portal interface, go to the “My Customers” tab.
   • Click on the specific customer which has successfully passed screening (i.e. their status is not currently “Info required”, "Agreements pending", or “Not supported”.)
2. Create a new wallet:
   • Click on "Add Wallet".
   • Define the wallet by choosing the currency and payment rails.
   • Click "Continue" to create the wallet.
3. Assign account details: 
   • The system will assign a unique account details linked to this wallet.
4. The wallet is linked to the customer:
   • Once the wallet is created it will automatically sit in the wallet section of the specific customer.