Creating a US account with UK/GBP virtual IBAN with Simulate Bank Transfer API

Hi there!

With the Simulate Bank Transfer API in sandbox environment, I am able to transfer USD to a virtual IBAN using an issuing_xxx id that was created when I first issued a UK (GB) /GBP bank account to a wallet? Is this just possible because it is in the the sandbox, but would not be a valid transaction in production, since US/USD virtual IBAN is not available yet?

Thanks

Hi @RobC it’s not possible to transfer amount in USD on a non-usd vitual IBAN. We support GBP, EUR and multicurrency IBAN (including USD currency) on production, whilst in the sandbox only GBP virtual IBAN is available.

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Thanks, could you please explain what a multi-currency IBAN is? Do you have more information about this? In the sandbox I have simulated a bank transfer of USD to a GB virtual IBAN. Thanks.

@RobC sure, a multi-currency IBAN is a virtual IBAN which hosts more than one currency, therefore it allows you to receive bank transfer in all those currencies hosted by the vIban.

And if I understand correctly, the transfer you made via the GBP vIBAN still got credited to the EUR currency account instead of the GBP one, basically in the sandbox, it’s treated as a normal bank transfer simulation. It’s not actually tied back to vIBAN capability.

On production, this is not possible via our existing mature connection and it’s not promoted either as we can have iban in EUR, GBP and multi-currencies to fulfil the need for a like for like transfer.

Thanks @Xi_Li, understood now.

And yes, the transfer made via the GBP vIBAN got credited to a USD account in the sandbox.

Thanks!