What is a virtual account?
A virtual account is a dedicated US bank account that can be generated for each of your receivers. Each virtual account comes with its own unique routing number and account number, enabling your customers to send and receive payments throughout the United States banking system.
These accounts function like regular bank accounts but are managed through the BlindPay platform.
All incoming payments to this virtual account will automatically generate a payin. Transaction fees will be charged on your invoice at the end of each billing cycle.
KYC requirements
Virtual account creation is currently only available for:
- US citizens with Social Security Number (SSN)
- US companies with Employer Identification Number (EIN)
- Receivers with Enhanced KYC
We are working to expand virtual account availability to additional countries in the future. Stay tuned for updates.
Payment rails supported
Here are the payment rails that virtual accounts support:
| Type | Country | Estimated time of arrival |
|---|---|---|
| ach | 🇺🇸 United States | ~2 business days |
| domestic wire | 🇺🇸 United States | ~1 business day |
| international wire | 🇺🇸 United States | ~5 business days |
| rtp | 🇺🇸 United States | ~5 minutes |
These accounts are allowed to send and collect third-party payments.
Generating a virtual account
Before generating a virtual account, you need to:
- Create an account on BlindPay
- Create a development instance
- Create your API key
- Create a receiver with SSN (for US citizens) or EIN (for US companies) as id document
- Add a blockchain wallet
Remember: replace YOUR_SECRET_TOKEN with your API key, in_000000000000 with your instance ID and re_000000000000 with your receiver ID which you created previously.