Virtual Accounts Overview
Dedicated Virtual Accounts enable you to assign unique bank account numbers to your customers. When customers transfer to their dedicated account, funds are automatically routed to your BudPay wallet.
Nigeria Only: This feature is only available to businesses in Nigeria.
Overview
The BudPay Dedicated Virtual Account system allows you to create permanent bank account numbers for your customers. Unlike one-time payment accounts, these are persistent accounts that can receive multiple payments over time, making them ideal for recurring payments, subscriptions, and customer wallets.
Key Features
| Feature | Description |
|---|---|
| Dedicated Accounts | Assign unique bank account numbers to individual customers |
| Automatic Routing | Payments are automatically credited to your BudPay wallet |
| Bulk Creation | Generate multiple virtual accounts in a single batch request |
| Customer Linking | Each account is linked to a customer record for easy tracking |
| Real-Time Notifications | Receive webhooks when payments are received |
| Account Management | List, fetch, and manage all dedicated accounts |
Supported Banks
Bank Partners: Virtual accounts are provided through our partner banks with instant account creation.
| Bank | Type | Availability |
|---|---|---|
| Wema Bank | Single & Bulk | Available |
| VedantMFB | Single | Available |
| Coronation Bank | Single | Available |
| Premium Trust | Bulk | Available |
Virtual Account Workflow
1. Create Customer
- Create a customer record with name, email, and phone
- Receive a unique customer code (e.g.,
CUS_xxxxx) - Customer code is used to assign virtual accounts
- See Customers API to create customers and get customer codes
2. Create Virtual Account
- Assign a dedicated virtual account to the customer
- Account is created instantly with bank partner
- Receive account number and bank details
3. Customer Makes Payment
- Customer transfers to their dedicated account number
- Payment is processed automatically by the bank
- Funds are credited to your BudPay wallet
4. Receive Notification
- Webhook is sent to your server with payment details
- Transaction includes customer reference for reconciliation
- Update your system with payment confirmation
Available Endpoints
| Endpoint | Method | Description |
|---|---|---|
| Create Virtual Account | POST | Assign a dedicated account to a customer |
| List Virtual Accounts | GET | Retrieve all dedicated accounts on your integration |
| Fetch Account Details | GET | Get details of a specific virtual account |
| Bulk Create Accounts | POST | Generate multiple virtual accounts in batch |
Next Steps
- Create Virtual Account - Assign your first dedicated account
- List Virtual Accounts - View all accounts on your integration
- Bulk Create Accounts - Generate accounts in batch