Virtual Accounts

Alfred’s virtual accounts are local depository accounts that allow businesses to collect payments in local currencies across Latin America. These accounts provide fast, transparent, and compliant settlement rails — enabling businesses to operate locally without setting up local entities.

We offer two types of virtual accounts, designed to meet different compliance and go-to-market needs:

Named Virtual Accounts

• Accounts opened in the business's name, even if they are non-resident (i.e., the
  business is domiciled outside the country).
• Funds are collected into an account tied to the customer, providing clearer audit trails,
  regulatory transparency, and enhanced trust for counterparties.
• Ideal for enterprise clients who require named ownership for invoicing, reconciliation, or
  compliance purposes.

Non-Named Virtual Accounts

• Accounts are issued in the name of Alfred’s local regulated entity, but each customer is
  assigned a unique account number.
• While not legally titled to the end customer, funds are still individually tracked, settled,
  and reconciled on their behalf.
• This model allows faster onboarding and coverage in markets where opening
  non-resident accounts is complex or restricted.

Once you have created a customer, the moment they complete their KYC and are approved - a virtual account will automatically be generated in the available geographies. Once approved, you can consult to GET Retrieve Virtual Account . This will consult the Virtual account information generated for that customer.

Virtual Account example in Argentina:

curl --location 'https://penny-api-restricted-dev.alfredpay.io/api/v1/third-party-service/penny/virtual-account/null' \
--header 'Content-Type: application/json' \
--header 'accept: /' \
--header 'api-key: ***' \
--header 'api-secret: ***'

{
  "id": 115,
  "CVU":1234567890123456789012
	"accountId": 2,
}