Virtual Accounts
HSBC offers two types of Virtual Accounts (VA): (1) Traditional VA - A unique reference number in the format of a BSB and account number that payors can use to make a payment to help Wholesale banking customers with payor identification; (2) Next Generation Virtual Account Management - A solution that can help reduce the number of physical bank accounts held by the customer and streamline bank account management and reconciliation activities
Category: Transaction & Savings Accounts Last Updated December 9, 2025 Effective June 3, 2026
General Lending Rates
No product information is currently listed. Please make contact with us for more information.
Product Features
- Unlimited Txns Additional Information: There is no limit to the number of transactions that can be made into the virtual account
- Digital Banking Additional Information: Applicable to Next Generation Virtual Account Management only. User interface is accessible through HSBCnet. Enables customer to visualise virtual account balances, self-manage certain virtual account parameters (open/close, rename virtual accounts), download virtual account reporting.
- Other Additional Information: Receivables reporting Virtual account transactions are identifiable in the regular bank statement. However, a dedicated report for receipts, including receipts into a virtual account, is available as an optional feature.
Product Eligibility
- Business Additional Information: Corporate customers only
Bank Fees and Charges
- Establishment Fee - Traditional Va (Upfront), Amount: 1500.00. Additional Information: One off establishment charge
- Maintenance Fee (Periodic), Amount: 250.00. Additional Information: Applicable to Traditional VA and Next Generation Virtual Account Management. Monthly fee per physical account
- Transaction Fee - Traditional Va (Transaction), Amount: 0.30. Additional Information: Fee charged for each transaction made into a virtual account. This is charged in addition to the usual transaction fees.
- Establishment Fee - Next Generation Virtual Account Management (Upfront), Amount: 800.00.
- Maintenance Fee - Next Generation Virtual Account Management (Periodic), Amount: 300.00. Additional Information: $1 per virtual account, subject to a minimum charge of $300. Monthly fee per virtual account. This is charged in addition to the maintenance fee for the physical account.
