Important to Note
This feature is only available for Registered Businesses in Nigeria at the moment.
A dedicated virtual account is a feature on the Paystack Dashboard and API that allows merchants to create and reserve bank account numbers for receiving payments from their customers. This enables your customers to pay you via bank transfers to this dedicated virtual account.
How does this work?
The dedicated virtual account that you generate for your customers is linked to your Paystack business. When your customers send money to a dedicated virtual account, a transaction will be created on your transaction page just like any other transaction done via card, bank, USSD, etc. Also, as with any other transaction, you will be notified via email and this transaction will be captured on your Paystack dashboard. If you've set up any webhooks, events will be fired to that webhook URL so your servers can take action following the payment.
You can look at dedicated virtual account as another payment channel for your business. Now, customers will be able to pay you with a simple bank transfer to the account number assigned to them.
All businesses have a limit of 1000 virtual accounts which can be assigned to a customer. To request an increase in this limit, please send an email to email@example.com.
What are the requirements for creating Dedicated Virtual Accounts?
- The customer's phone number
- The customer's full name
- The customer's email address
In addition to the above requirements, merchants who fall under the categories of Financial services, Betting and General Services will need to validate their customers. For more on customer validation, please visit our API documentation here.
How can I generate a dedicated virtual account account for my customer?
Dedicated virtual accounts can be created from the Paystack dashboard or via API. For merchants who fall under the categories of Financial services, Betting and General Services, Dedicated virtual accounts can only be created via the API as customer validation, which is a requirement, can only be done via the API.
Please follow the steps below to get started.
Via the Dashboard
Navigate to the Customers page on your dashboard and select the customer you would like to create a dedicated virtual account for.
When on a particular customer, you will see the option to 'Generate account number'. Click on this.
You will then be prompted to provide a phone number for the customer, do this and continue.
Choose a preferred bank to generate a virtual account from under the list of banks provided.
Finally, click on the 'Generate NUBAN' button.
Via the API
To generate a dedicated virtual account via the API, please visit our documentation here.
Dedicated virtual account will be priced starting from 0.75% capped at N50 per transaction
Important to Note
While you can assign Access Bank Dedicated virtual accounts to your customers, please note that these accounts can only accept NIP transfers. At the moment, Access Bank to Access Bank transfers are non-NIP.
This means that if an Access Bank customer tries to make a transfer to an Access Bank Dedicated virtual account, they will get an error message.
We deeply apologise for any inconvenience this may cause and we assure you that we're actively working to enable transfers for Access Bank customers to these Access Bank virtual accounts.