Google’s Answer
A virtual account is an bank account number that be presented as a method to receive payment from third parties. Any funds that are received into the virtual account are automatically moved into another account that is typically referred to as the house account.
Our Answer
A virtual bank account is different from a ‘real’ bank account because virtual accounts are used only as references and funds received. Any credits into a virtual account are automatically transferred to another account, usually called the ‘house’ account which maintains all balances. Real bank accounts maintain balances as well as being able to receive and send funds from third parties.
