Virtual bank accounts (IBANs)

A virtual bank account (VBA) gives an account its own IBAN to receive fiat. Incoming SEPA credits are automatically converted to a stablecoin and credited to the account’s wallet.

Prerequisites

The account must be verified and have a linked account-holder party. Today VBAs are EUR only — creating one provisions a EUR_SEPA IBAN.

Create a virtual bank account

Provide a display name, the fiat inCurrency (EUR), the targetCryptocurrency to convert to, and a unique idempotencyKey:

curl -X POST https://api.venlyfinance.com/v1/accounts/{accountId}/virtual-bank-accounts \
  -H "Authorization: Bearer <token>" \
  -H "Content-Type: application/json" \
  -d '{
    "name": "EUR Payouts",
    "inCurrency": "EUR",
    "targetCryptocurrency": "USDC",
    "idempotencyKey": "3fa85f64-5717-4562-b3fc-2c963f66afa6"
  }'

Response

{
  "success": true,
  "result": {
    "id": "4d5e6f70-8192-4a3b-9c4d-5e6f7081920a",
    "bankAccountType": "EUR_SEPA",
    "status": "ACTIVE",
    "currency": "EUR",
    "targetCryptocurrency": "USDC",
    "iban": "DE89370400440532013000",
    "bic": "DEUTDEDB",
    "bankName": "Example Bank",
    "beneficiaryName": "Jane Doe",
    "referenceCode": "VFY-7K2Q-931"
  }
}

The fields that matter

Field	Why it matters
`iban` / `bic`	The account coordinates you show the payer.
`beneficiaryName`	The legal name on the account — display it next to the IBAN.
`referenceCode`	Critical. The payer must quote this in the SEPA payment reference so the incoming wire is matched to this account. Without it, settlement falls back to manual reconciliation.
`targetCryptocurrency`	The stablecoin incoming EUR is converted to.
`status`	`ACTIVE` or `CLOSED`.

Always surface the referenceCode to the end user and tell them to include it in their transfer. It’s how an incoming SEPA credit is routed to the right account.

Reading them back

List virtual bank accounts for an account.
Get a virtual bank account by ID.

Next steps

Wallets & balances

Where converted funds land.

Supported chains & assets

Which fiat currencies and stablecoins are supported.

Payment requests Safe retries with idempotency keys

⌘I

Overview

Core Concepts

Parties

Accounts