Get to know what a virtual account is, types and benefits

2024-05-22T00:00:00.000000Z
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Get to know what a virtual account is, types and benefits

What is a Virtual Account?

Have you ever heard of the virtual account payment method? A virtual account is an account number or bank account created virtually. This number arrangement generally takes the form of a unique combination of numbers and has a validity period, which is used to identify payments.

Virtual Account Type

Two types of virtual accounts are often used, namely as follows:

  1. Fixed Virtual Account (Fixed Virtual Account)

With this type of virtual account, you can use the same account repeatedly for transactions, so you don't need to use a new one every time you make a transaction.

For example, you can use the same virtual account many times to top up your electronic wallet (e-wallet) balance.

  1. Non-Fixed Virtual Account (Non-Fixed Virtual Account)

This type of virtual account cannot be used repeatedly for transactions because it is generated randomly by the system. It can only be used for one transaction. This type of virtual account is usually found in e-commerce transactions.


Difference between Virtual Account and Account Number

Virtual accounts have several differences from regular account numbers. Here are some of the differences:

  1. If you are used to transferring via ATM to a regular account number with a virtual account, you don't need to go anywhere. You only need an internet connection to transfer a virtual account.
  2. Regarding transaction flow, you only need to rewrite or copy and paste the virtual account number on your mobile banking service.
  3. You can do transactions with a virtual account yourself without needing the help of customer service or a teller from the bank.
  4. All transactions you make with your virtual account will be recorded in your account statement, which you can check at any time.

Benefits of Virtual Accounts

As technology advances, the existence of the virtual account method is beneficial for those of you who have high mobility and need time effectiveness. What are the benefits of virtual accounts? Here are some of the benefits you can enjoy:

  1. Transactions can be made anytime and anywhere without the need to travel and queue
  2. Serves various types of transactions, from the marketplace to booking train tickets and hotels
  3. There is no need to confirm payment with the seller because the information is sent automatically

Virtual Account Transactions on MAS Mobile

You can also enjoy the transaction feature using a virtual account on MAS Mobile by following these steps:

  1. Transfer

  1. Login using your MAS Mobile account
  2. Select the Transfer menu
  3. Select the MAS Bank VA menu
  4. Enter the Virtual Account number, then click Continue
  5. Enter your MAS Mobile PIN


  1. E-Commerce Payments

  1. Login using your MAS Mobile account
  2. Select the Transfer menu
  3. Select the Payment menu
  4. Select the E-Commerce menu
  5. Select the E-commerce transaction destination
  6. Select the transaction destination bank
  7. Enter the Virtual Assistant Number
  8. Enter the transaction amount
  9. Click Next
  10. Enter your MAS Mobile Transaction PIN

The virtual account method is very beneficial for both parties, both the sender and recipient of the transaction. A safe and automatic transaction system can increase effectiveness in making payments. Want tips for managing your finances more effectively? Check here.


Sources:

money.kompas.com

merdeka.com

bisnis.tempo.co

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