Virtual Accounts Getting Started
Virtual Accounts, a.k.a Multi-Currency Account (MCA), Vostro, Nostro
These accounts allow your clients to receive and hold FX currencies, granting them the flexibility to purchase or sell at any time at the rate they desire.
These accounts can be enabled by any PayRecs Administrator at your Financial Institution that have the permission "Manage Customer"
Once enabled, the account will be visible under the "Accounts" menu in the PayRecs platform.
Outbound Payment - Allows you to send a wire from this account to a recipient
Fund Account - Allows you to purchase and hold foreign currency in that account utilizing your USD accounts hosted by your Financial Institution
Please see the "Incoming Wires" option below for more information on Incoming