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PIK can issue a Virtual Account Number (VAN) for each connected account. A VAN is a real Australian bank account — complete with a unique BSB and account number — dedicated exclusively to one connected account. Any third party can send AUD to this account number from any Australian bank, and PIK automatically credits the funds to the connected account’s AUD wallet balance. VANs are the primary mechanism for connected accounts to receive AUD inbound payments on PIK.

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What a VAN is

A Virtual Account Number is a named account issued under PIK’s banking infrastructure. From the sender’s perspective it behaves like any ordinary Australian bank account — they enter the BSB and account number in their banking app and send a transfer. From PIK’s perspective, the transfer is matched to the owning connected account and the AUD balance is credited automatically. VANs are:
  • Unique per connected account — no two accounts share the same account number.
  • Named — issued in association with the connected account’s verified identity.
  • Persistent — the VAN stays assigned until your platform explicitly releases it.
  • Third-party friendly — any sender can fund the account, not just the account holder.

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Issuing a VAN

The account must have verified status and the inbound_payments capability activated before you can issue a VAN. Call POST /api/v1/accounts//virtual-account. No body parameters are required. PIK provisions the VAN immediately and returns:
  • bsb — The BSB number assigned to the account.
  • account_number — The unique account number.
  • account_name — The name associated with the account, derived from the verified identity.
  • status — active once issued.

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Sharing with senders

Share the BSB and account number with whoever needs to send funds. The sender can be the account holder themselves, their employer, their clients, or any other third party. There are no restrictions on who the sender is. Instruct senders to include a payment description or reference in their transfer if you need to reconcile what the payment is for. PIK records this in the transaction data.

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Releasing a VAN

Call DELETE /api/v1/accounts//virtual-account to release a VAN. Once released, any transfers sent to that account number will be returned to the sender. Notify the account holder and any third-party senders before releasing.

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Settlement timing

AUD transfers via VAN are typically credited within one business day. Transfers via NPP (used for PayID and Osko) may settle within minutes.