Virtual Account Bank & Capability Support

Modern Treasury’s bank integrations are designed to enable the full functionality of Virtual Accounts provided by the bank. We offer two types of architectures to match the bank’s functionality.

If the bank supports balance reporting for each individual Virtual Account, you will use the Internal Accounts API to create nested Internal Accounts. Otherwise, you will use the Virtual Accounts API.

	Internal Accounts API	Virtual Accounts API
Used if...	Your bank reports balances for each individual Virtual Account.	Your bank does NOT report balances for each individual Virtual Account, only a total balance for the linked bank account.
How each virtual account is linked	Created as a nested account of the internal account.	All are linked directly to the internal account.
Originate payments	Yes	No
Receive payments	Yes	Yes
Can link to a Counterparty	Yes	Yes

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You can always track and report the balance of any Virtual Account by linking it to a Ledger on Modern Treasury.

Supported Banks

See the table below for the banks we currently support for Virtual Accounts and the functionality provided at each.

Bank	Product Name at Bank	Payment Types supported	Balance reporting supported	Modern Treasury API
Goldman Sachs	Virtual Accounts	ACH Fedwire SWIFT wire	Yes	Nested Internal Account
BankProv	Ledger Account	ACH Fedwire	Yes	Nested Internal Account
Cross River Bank	Subledgers	ACH Fedwire	Yes	Nested Internal Account
Evolve	vAccounts	ACH Fedwire	No	Virtual Account
Increase	Account Numbers	ACH Fedwire	No	Virtual Account
JP Morgan Chase	Virtual reference number (VRN)	ACH Fedwire SWIFT wire	No	Virtual Account
Wells Fargo	Perfect Receivables	ACH Fedwire SWIFT wire	No	Virtual Account
Silicon Valley Bank	ACH Sub-Account	ACH	No	Virtual Account

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Don’t see your bank? We would love to understand your situation more. Email us at [email protected]