Why virtual IBANs exist
Marketplaces, exchanges, and B2B billing platforms used to manually match incoming payments to users using payment references — which is fragile, error-prone, and creates compliance headaches when references are missing or wrong.
How vIBANs solve it
Each user gets their own IBAN. When they send funds, the routing itself identifies the user, so reconciliation is automatic. The underlying funds still settle into one safeguarded master account at the EMI or bank.
When you should use them
Crypto exchanges (one vIBAN per user), marketplaces (one vIBAN per seller), SaaS billing (one vIBAN per customer), and any platform with thousands of inbound payers and a long-tail reconciliation problem.
What to look for in a vIBAN provider
Real IBAN issuance (not pseudo-references), high issuance throughput via API, support for SEPA and SEPA Instant inbound, and clear safeguarding of the underlying funds.