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EQ Global launches new virtual bank account service

Jordan Williams | 14:59 Monday 31st July 2017

Payments provider EQ Global – part of the Equiniti Group – has launched a new virtual bank account service for businesses.

The service has been created in partnership with Citi and allows businesses to transfer money across 26 currencies.

It can be accessed via EQ Global's web-based PayFac platform and will provide an international bank account number
(IBAN), which allows businesses to instantly pay and receive money to their virtual bank account.

Nick Pedersen, managing director of EQ Global, said: “EQ Global is processing a record number of payments and we are thrilled to further develop our product offering for all our clients.

“Many businesses struggle with collecting funds in an efficient and seamless way and we develop these products in a mission to provide end-to-end payables and receivables solutions and are able to utilise our strong banking relationship with Citi to deliver this before the competition.

“We believe the launch of our new virtual bank account service – reinforced by our new brand – will further support our aim of targeting new market sectors, as we endure to marry simple and clear products with delivering payments simply, quickly and efficiently.”

Additional international virtual bank accounts are to be launched in 2018.

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