Virtual Accounts

A virtual account is a dedicated bank account Rain provisions for an onramp payment route, so a sender can fund it with fiat.

A virtual account is a dedicated bank account, with its own banking details, that Rain provisions for an onramp payment route. A sender sends fiat to the virtual account, and Rain converts the funds to stablecoin and delivers them to the route’s destination. Unlike a payment account, you don’t register a virtual account yourself. Rain creates one when you create an onramp payment route.

How virtual accounts work

• One per route: each onramp payment route has its own virtual account, so each route has its own banking details.
• Details depend on the currency: the banking details Rain returns depend on the currency and the local payment rail of the route’s source.
• Named or unnamed: depending on the currency and banking partner, a virtual account may be named for your customer. When Rain returns a beneficiaryName, have the sender address their transfer to it.

Use a virtual account

Rain returns the virtual account’s banking details in the depositAddress of the payment route. A route that is still pending has no depositAddress yet. To create a route and share its details with a sender, see Payment routes.

What’s next

Payment Routes

Create a payment route and get the virtual account a sender uses to fund it.

Onramps

Learn more about converting fiat to crypto through a payment route.