What is Virtual IBAN?
Virtual IBAN is a smart digital solution designed to simplify and accelerate the funding and settlement of your Corporate Cards. It instantly and securely assigns a unique virtual bank account number to each card, enabling direct bank-to-card transfers without manual allocation.
Each Virtual IBAN is linked directly to a specific Corporate Card, allowing payments to be credited in near real time. This eliminates the need for manual reconciliation and ensures faster, more secure settlements.
You can activate Virtual IBANs easily through the Online Programme Management (OPM) Portal in just a few steps:
Here’s how Virtual IBAN transforms your payment experience:
FAQ
A Virtual IBAN is a virtual bank account number of AEME assigned to a Card Account. The Virtual IBAN allows the Company and Cardmember to make online payments to a Card Account. When payments are made to a Virtual IBAN, they are credited to the primary bank account of AEME, and the Virtual IBAN helps identify and allocate the funds to the correct Card Account.
Virtual IBANs simplify the payment process by routing funds directly to the primary bank account of AEME, while providing detailed information for accurate allocation to the correct Card Account. This ensures efficient payment processing, eliminating the need for the Company and Cardmember to enter sensitive information in the ‘remittance information field’ for payment allocation.
Currently, this Virtual IBAN payment option is available for Corporate local currency Cards in Bahraini Dinar (“BHD”), Qatari Riyal (“QAR”), and United Arab Emirates Dirham (“AED”).
Please note that the Company must have access to the OPM Portal to utilize this Virtual IBAN payment option
You can link your Card Account(s) through the OPM Portal by following these steps:
Log in to the OPM Portal and click on ‘Virtual IBAN’.
Select Accounts: in the ‘MCA’ and ‘BCA’ dropdowns, select the corresponding Accounts. If your Card Account has only one (1) MCA and one (1) BCA, the corresponding Card Account will automatically be displayed.
Display Available Card Accounts: the Card Account(s) available for linking will be displayed. Select the corresponding Card Account(s) to which you would like to assign a Virtual IBAN to. You can select one (1) or multiple Card Accounts.
Generate Virtual IBAN: click the ‘Generate Virtual IBAN’.
Review Terms and Conditions: click the ‘Terms and Conditions’ link to read and review the Virtual IBAN Terms and Conditions (for Corporate Cards). Read and review the Virtual IBAN Terms and Conditions (for Corporate Cards), tick the box indicating your acceptance, and click ‘Ok’ to proceed.
Confirmation: a confirmation screen will pop up to confirm that a Virtual IBAN has been assigned to your Card Account.
Virtual IBAN(s) Details: upon successful linking, the Card Account(s) and the corresponding Virtual IBAN(s) will be displayed on your screen.
E-mail Notification: an e-mail will be sent to the registered e-mail ID of the Company upon successful linking.
Generate Report: click the ‘Excel’ icon to generate a report of the Virtual IBAN details in Excel format.
If you encounter any issues while linking Card Account(s) to a Virtual IBAN, please contact our Corporate Servicing Unit for assistance.
Virtual IBAN Terms & Conditions Apply.