Real and Virtual accounts
Q&A
Is there a difference in how interledger systems work for real versus virtual accounts?
Yes, interledger systems are typically only necessary for real accounts that handle actual fund transfers. Virtual accounts do not require interledger systems as they are essentially internal representations within a financial management system.
Does this mean any amount available in the master account is accessible for withdrawal from virtual accounts?
Technically, yes. However, responsible system management ensures that users can only see and access the funds that are virtually allocated to them within their specific virtual account, not exceeding the total available in the master account.
Can the balances of real or virtual accounts be manually adjusted?
For real accounts, manual adjustment of balances is not possible. These accounts reflect real transactions and balances. On the other hand, virtual account balances can be manually adjusted through API transactions or administrative interventions. This flexibility is useful but requires careful management to avoid discrepancies between virtual balances and actual funds in the master account.
Which type of accounts do manual providers (None) operate with?
Manual providers typically operate with virtual accounts. Even though these do not link directly to a master account, they still allow for the virtual representation of balances, which can be adjusted as needed without real fund movements.