Virtual Account Number

Overview

The Virtual Account Number (VAN) is a concept to identify the appropriate account associated with your pre-fund account or your customers wallet currency. Your customer or their third-party remitter can initiate a bank transfer from their bank account to the Nium's partner bank-assigned VAN. The physical fund is a transfer from the sender or remitter bank account to Nium's bank account. Nium's partner bank contacts the Inward Credit Confirmation (ICC) service to indicate that the Nium platform has received the payment and then the platform initiates the wallet balance update from the current balance plus the transfer amount to your customers wallet.

Initialization and Assignment

Once your customer is onboarded onto the Nium platform, request for VAN assignment gets initialized based on your configuration. Nium allows for automatic VAN assignment during customer onboarding or on-demand via the Assign Payment ID API

The Nium platform supports two different types of VAN sources, synchronous and asynchronous allocation of account number.

Synchronous allocation

The below sources are where the VAN gets assigned immediately. We have preallocated ranges that allow for realtime allocation of VAN.

CountryBank NameSupported Currencies
AUJPM_AUAUD,USD,HKD,EUR,GBP
HKDBS_HKAUD, GBP, EUR, HKD,USD
PHNETBANK_PHPHP
SGDBS_SGSGD,USD
SGJPM_SGCHF,CNY,TRY,SAR,AED,CAD,JPY
NOK,NZD,SEK,THB,PLN,HUF,DKK
SGD,USD,AUD,HKD,EUR,GBP,ILS,MXN,ZAR
USCFSB_USUSD
USCFSB_USINTLUSD

Asynchronous allocation

The below sources are where VANs are not assigned immediately, they will be first marked as an INITIALIZED and VAN assignments can be done in a time frame of immediate to within 5 mins depending upon partner bank’s VAN assignment response.

CountryBank NameSupported Currencies
AUMONOOVA_AUAUD
DEBANKINGCIRCLE_DEEUR
DKBANKINGCIRCLE_DKDKK
GBCB_GBUSD
JPGMO_JPJPY
LTBOL_LTEUR
MXCITI_MXMXN
PLBANKINGCIRCLE_PLPLN
SGCITI_SGSGD,EUR,GBP,HKD,AUD,NZD,JPY,USD
SGDIRECTFAST_SGSGD
UKJPM_UKAED,CAD,CHF,CZK,DKK,EUR,GBP
HUF,ILS,MXN,NOK,NZD,PLN,RON
SEK,ZAR
USCOLUMN_USUSD