Virtual account number (VAN) by definition is a pseudo account assigned to a brokerage customer and associated with the bank account of the broker with its bank. VANs uniquely identify customers and eliminate the need to pass along additional information, which for certain currency transfers cannot always be passed along or is ambiguous. Hence, payments made to VAN are automatically directed in the account where the VAN is registered.
- Should I use the VAN in my bank wire instructions?
- Yes, the VAN is specifically for you to transfer the specific currency. The VAN reflects a combination of both our bank account number and your account number at Interactive Brokers and ensures smooth processing of your transfer.
- No, if you do not see a VAN in the bank routing instructions provided, please proceed with the given bank information (account number).
- What if my bank does not accept the VAN?
- If the platform of your bank requires that you send the funds indicating the account numbers separately, ten send the funds to our bank account number only (Beneficiary Account) and mention your account number at IBKR in the field "for further benefit"/"Payment Reference".
Please Note
- A VAN is only assigned for certain currencies/countries.
Additional Information