KEY POINTS -
- Virtual International Bank Account Numbers (vIBANs or virtual IBANs) are identifiers formally linked to a master bank account and informally associated with other accounts or relationships. They are typically used to streamline payments reconciliation and support indirect participation in payment systems. DZ
- Virtual IBANs owe their existence to industry usage, and as their use is not specifically addressed in regulations, careful thought is sometimes needed as to how the regulations apply.
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