Virtual Accounts
Virtual Accounts
Simplify your collections. Streamline your reconciliation.
alrajhi bank’s Virtual Accounts solution enables businesses to manage and reconcile collections efficiently by assigning dedicated virtual accounts to individual customers. Each virtual account is linked to a master collection account, allowing f or seamless tracking, automated reconciliation, and improved visibility of incoming payments all through a centralized, user friendly platform.
Key Characteristics and Benefits:
- Streamlined Receivables Mechanism for Your Customer’s Payments with an Advanced Dashboard.
- Separate Schemes for Different Customer Segments (Retail vs. Corporate) for Better Business Control.
- Automated Reconciliation Reduces Manual Effort and Eliminates Errors.
- Saves Valuable Time and Operational Costs.
- Digital Solution Avoids Manual Account Receivables Reconciliation.
- Supports Multiple Virtual Accounts Tied To A Single Collection Account.
- Downloadable Customer Data (Names, Contract IDs, etc.) for Analytics and Insights.
- Advanced Reporting Mechanism.
- Intuitive and User friendly Dashboard.
Virtual Accounts within alrajhi Business:
Create & Maintain Virtual Accounts.
Detailed Statements & Reports.
Collection Account Status.
Financial Inquiry.
How to apply
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