Corporate and Institutional BankingVirtual Accounts
HSBC offers two types of Virtual Accounts (VA): (1) Traditional VA - A unique reference number in the format of a BSB and account number that payors can use to make a payment to help Wholesale banking customers with payor identification; (2) Next Generation Virtual Account Management - A solution that can help reduce the number of physical bank accounts held by the customer and streamline bank account management and reconciliation activities
At a glance
- Pricing
- Rates on application
- Monthly fee
- $250
Fees
5 fees published, grouped by when they're charged.
- When you take it outUp to $1,5002 fees, each listed below
- While you hold itUp to $3002 fees, each listed below
- When you close it or pay it offNo fee published
When you take it out2
- Establishment Fee - Next Generation Virtual Account Management$800
- Establishment Fee - Traditional VA
One off establishment charge
$1,500
While you hold it2
- Maintenance fee - Next Generation Virtual Account Management
$1 per virtual account, subject to a minimum charge of $300. Monthly fee per virtual account. This is charged in addition to the maintenance fee for the physical account.
$300 a month - Maintenance fee
Applicable to Traditional VA and Next Generation Virtual Account Management. Monthly fee per physical account
$250 a month
When you make a transaction1
- Transaction fee - Traditional VA
Fee charged for each transaction made into a virtual account. This is charged in addition to the usual transaction fees.
$0.30
Features
- Receivables reporting Virtual account transactions are identifiable in the regular bank statement. However, a dedicated report for receipts, including receipts into a virtual account, is available as…
Eligibility and limits
- Available to businesses
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Published by HSBC Bank Australia Limited – Wholesale Banking under the Consumer Data Right, last changed by them on 9 Dec 2025. Figures are shown as the institution publishes them and can change without notice; confirm on their site before applying. The Finance Algorithm earns nothing from any product listed here.