Virtual Accounts
HSBC offers two types of Virtual Accounts (VA): (1) Traditional VA - A unique reference number in the format of a BSB and account number that payors can use to make a payment to help Wholesale banking customers with payor identification; (2) Next Generation Virtual Account Management - A solution that can help reduce the number of physical bank accounts held by the customer and streamline bank account management and reconciliation activities
Fees
| Fee | Type | Amount |
|---|---|---|
| Establishment Fee - Traditional VA One off establishment charge | Upfront | $1,500.00 |
| Maintenance fee Charged monthly · Applicable to Traditional VA and Next Generation Virtual Account Management. Monthly fee per physical account | Ongoing | $250.00 |
| Transaction fee - Traditional VA Fee charged for each transaction made into a virtual account. This is charged in addition to the usual transaction fees. | Transaction | $0.30 |
| Establishment Fee - Next Generation Virtual Account Management | Upfront | $800.00 |
| Maintenance fee - Next Generation Virtual Account Management Charged monthly · $1 per virtual account, subject to a minimum charge of $300. Monthly fee per virtual account. This is charged in addition to the maintenance fee for the physical account. | Ongoing | $300.00 |
Features
- Unlimited transactions
- There is no limit to the number of transactions that can be made into the virtual account
- Digital banking
- Applicable to Next Generation Virtual Account Management only. User interface is accessible through HSBCnet. Enables customer to visualise virtual account balances, self-manage certain virtual account parameters (open/close, rename virtual accounts), download virtual account reporting.
- Receivables reporting Virtual account transactions are identifiable in the regular bank statement. However, a dedicated report for receipts, including receipts into a virtual account, is available as an optional feature.
Eligibility
- Business customersCorporate customers only
More Information
Published by HSBC Bank Australia Limited – Wholesale Banking under the Consumer Data Right · Last updated 9 December 2025 · Product ID VA · View on CDR.gov.au