One of the most widely used payment methods today is virtual account (VA) payments. This VA payment method does not require a payee account. different from money transfer Free transfer fee and VA number cannot be used twice.

Why is that? So what is a virtual account? Check out his comments below:

Virtual Account Definition

A virtual account, or VA, is a set of numbers issued by a bank for a custom payment method for one customer and one transaction. This means that this virtual account can generally only be used to pay for certain transactions by certain customers.

Additionally, VA numbers are generally available for a limited time only. After that period is over This number can no longer be used to make payments. If you pay late You can request a new VA number.

Currently, there are several banks that offer this feature, including Bank BRI, Bank CIMB-Niaga and Bank OCBC NISP. Not only can it be accessed through mobile banking, VA transfers can also be done through ATMs.

How to use a virtual account

Using a virtual account is pretty simple, namely:

  1. go to the payment section Select a virtual account or the VA menu.
  2. The application will provide you with a set of numbers that you can copy.
  3. Open the mobile banking application. Then select the virtual account menu.
  4. If you are using an ATM, you can select the virtual account menu on the ATM start screen and then enter the relevant VA number.
  5. Paste the VA number into the field and click OK.
  6. within minutes Your transaction will be confirmed instantly.
  7. This payment information will be automatically sent to the Company. So you don’t need to submit a payment verification.

If you are making payments to an MSME company, you can take a screenshot to the payment review section and send it to the relevant company. However, large companies often set up automated VA checks, so you don’t need to submit proof. payment

Using a virtual account

1. The transaction will be more beneficial.

One of the disadvantages of using regular account transfers is that You must remember or record the account number of the company that will receive your payment. but with this feature in mobile banking application You just copy and paste easily.

Additionally, you do not need to submit a payment confirmation. except in some cases Both of these advantages make using virtual accounts more efficient than regular money transfers.

2. Facilitate financial records

The benefit of virtual accounts for both companies and clients is that it simplifies financial records. For clients, the presence of a VA makes it easier for them to monitor their allocations and the amount of money leaving their bank accounts.

For companies, virtual accounts make it easier to record finances. As the VA number is arranged in such a way that the customer identity and transaction number are included, proof of payment is automatically entered into the company’s financial records for the relevant customer.

3. Transactions are more secure

Another disadvantage of transferring money using a regular account is that Wrong account number or transfer amount may cause wrong transfer Fraudulent transfers are rampant in Indonesia. One solution is to send payments with a virtual account.

From the author’s experience Transfers using a VA number will not be able to continue if there is an error in the VA number or a minor transfer error. Therefore, it is quite safer than using a regular account transfer.

4. No need to transfer between banks

The virtual account is one of the products provided by payment gateway companyThe existence of VA and payment gateway services aims to solve modern transaction problems, i.e. the difference between the bank used by the buyer and the bank used by the seller.

in general purchase and sale transactions The buyer will be charged a handling fee. 2,500-Rp.6,500 which makes the price of the product look more expensive. Especially if you add freight with this VA. interbank transfer Or the same bank is no longer a problem as funds are collected at the payment gateway company before being distributed to the corporate account.

Difference Between Virtual Account and Regular Account

1. Confirm

As mentioned above, the VA number already identifies the buyer and the transaction number. This makes it easier for companies to identify customers and the number of transactions. This is definitely different from a general account transfer. The company is required to obtain proof of transfer in order to be able to determine who made the transfer and for what amount.

2. Processing fee

The second difference is management fees. as we know The cost of regular account transfers between banks is Rp 2,500 (using BI Fast) up to IDR 6,500 (using the normal method). This transfer fee applies to all transfers.

You can say that the transfer fee using a VA number is quite small. oh! IndonesiaOne provider for generating a VA number charges a management fee of Rp. 2000 for transfers worth Rp. 5,000,000 for one transaction or multiple transactions in a day. Of course, this will benefit your company as compared to other companies. that doesn’t have this payment method option

3. Processing time

in bank transfer The money you send will only be received by merchants with another bank account in D+1 business days (regular wire transfer) or only a few minutes (BI-Fast) due to the clearing process. Using a virtual account depends on the payment gateway company.

for buyers This transaction can be done within minutes. However, it is possible for new merchants to be paid by H+1 jobs or directly (instantly) depending on the chosen payment gateway service program.

Virtual Accounts for MSMEs

Virtual accounts cannot be served only by large companies. small company Small and medium sized enterprises (MSMEs) can create this payment method to make it easier for shoppers. Some of the documents that must be provided are:

  1. Producer’s ID card
  2. Business Entity NPWP
  3. Deed of incorporation and amendments
  4. Order of the Minister of Justice
  5. corporate account

For complete information about the required documents, prices, etc., you can contact the payment gateway company of your choice, such as Doku, Midtrans, Xendit, Oy! Indonesia, etc. Take advantage of this payment method to increase your company’s advantages in the eyes of consumers and increase your company’s revenue.


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