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

⚙️ Rapyd API 🙋🏽‍♀️🙋🏽‍♂️ Ask Questions
1

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

2

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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3

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.

4

@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.

5

Thanks @Xi_Li, understood now.

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

Thanks!

6

HI Good day,

I would like to make enquiry regarding your Virtual IBANs and Card Issuing.

Do you provide solutions to companies here in the United State?

Also, what are the countries your company prohibited from using your products?

We are a multinational company providing service to America, Europe and Africa.

I look forward to hearing from you soon.

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7

Hi @Justice_C_Marcellus, here’s a quick overview page of payment categories in the US.

Currently do no have card issuing, but Virtual Accounts / IBANs for US will be coming soon. We are posting updates and video clips of our changelog within our dev community.

I can also follow up here when that happens.

Also, nice logo! :+1:

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Is the card issuing available now and how can I start testing?

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@dexter4life card issuing is available, yes. Here’s a video on how to make your first API call and how to get started with testing. https://www.youtube.com/watch?v=JmH7PmFlsyI

This post is talking about Virtual Accounts so here is also a video on virtual Accounts testing. https://www.youtube.com/watch?v=UvtudhYRJi4