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1. Fully Customisable

Assign IBANs on multiple levels – business, customer, currency, product or even order/transaction based. For example, you can assign an IBAN to all transactions from a specific customer or separate IBANs for each order.

2. Secured in Trust Accounts

The over 10 million virtual IBANs are managed and maintained within insolvency-proof trust accounts with the added safety of Novalnet being a German payment institution approved by Bafin.

3. Easy Accounts Allocation

Novalnet’s IBAN account management system can directly connect to your accounting system (SAP, Navision, Datev, etc.) and deliver transaction reports in multiple formats like XML, iDoc, JSON, MT940, camt.053 camt.054, etc.

Why Virtual IBANs?

More flexible yet less expensive than standard bank accounts or traditional IBANs.

Each customer, product or transaction can be assigned a unique IBAN account which allows for efficient organization.

Every process of a virtual IBAN, like deposits, transfers, and settlements, can be automated, saving business owners substantial amounts of precious time.

Fund your accounts and transfers with multiple currencies.

Virtual IBAN accounts eliminate the need to set up multiple bank accounts in different regions and countries.

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How to Implement Virtual IBANs

With Novalnet’s Virtual IBAN solution, you can automate incoming payments and reconciliation without manual effort. Each customer, partner, or project receives a unique IBAN, ensuring that every transfer can be instantly matched to the correct account or transaction. This eliminates reconciliation errors and saves valuable time for your finance team.

Step 1: Enable Virtual IBANs

  • Log in to the Novalnet Merchant Portal.
  • Go to Projects → Payment Methods and enable Virtual IBANs for your desired project.
  • Define your preferred IBAN allocation logic – e.g., one IBAN per customer, per project, or per payment flow.
  • Save your configuration to activate automatic IBAN generation for new transactions.

Step 2: Manage and Track Incoming Payments

  • Each generated Virtual IBAN is linked to your main merchant account but assigned individually for easier reconciliation.
  • Incoming payments are automatically matched to the correct transactions and displayed in your Merchant Portal Dashboard.
  • Export detailed transaction and reconciliation data using the Transaction or Payout Reports in your portal.

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Choose Your Integration Method

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Hosted Payment Page

Enable automated IBAN assignment for SEPA or bank transfer payments directly on the hosted checkout page.

HPP Guide
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Direct API

Integrate Virtual IBAN assignment and reconciliation via the Transaction API — ideal for tailored billing and platform logic.

API Reference
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Plugins

Shopware, WooCommerce, Magento, Shopify, and more — activate Virtual IBANs directly in the plugin settings for automated matching and reconciliation.

See all plugins

Frequently Asked Questions

A virtual IBAN is a unique, customer-specific identifier linked to a master bank account. It allows businesses to receive payments with full traceability, enabling automatic reconciliation without creating multiple bank accounts.

Novalnet assigns a unique virtual IBAN to each customer, partner, or transaction source. When payments are made to this vIBAN, they’re routed to your main account while maintaining full reference integrity for automated reconciliation.

Key benefits include automated matching of incoming payments, simplified reconciliation, reduced manual errors, faster settlements, and better financial transparency—especially useful for marketplaces and B2B invoicing.

Yes. Novalnet’s virtual IBANs eliminate the need for manual data matching by directly linking each transaction to its source, enabling real-time, automated reconciliation.

Yes. Novalnet offers virtual IBANs in EUR and supports cross-border payments within the SEPA region. Expansion to other currencies and regions may be available based on business needs.

Absolutely. As a BaFin-licensed payment institute, Novalnet ensures full compliance with PSD2, AML, and other EU financial regulations in managing and routing vIBAN-based payments.

Virtual IBANs are ideal for marketplaces, platforms managing multiple vendors, subscription services, crowdfunding sites, B2B enterprises, and companies handling high volumes of incoming payments.

Always on, Always up-to-date

Real-time info

Real-time checks during transactions ensure that nothing fradulant passes through our systems undetected
and unattended.

Persistent Monitoring

24/7 monitoring of all critical functions make sure any anomaly in our systems are notified instantly and remedial actions are triggered to maintain
99.99% uptime.

Global Coverage

A network of global experts and platforms help us keep our fraud detection systems updated constantly and help us never miss new threats
as they arise.