Manage all your client/third party funds with Virtual Account Manager (VAM).

 

Virtual Account Manager (VAM) is the latest addition to our iBusiness Banking (iBB) cash management system, allowing you to directly administer client and third party funds from your desktop PC using your web browser (no additional software is required). Using VAM will greatly increase the efficiency of your account administration process, with automatic reconciliation of your virtual and pooled accounts, a full reporting system, and automatic client statement generation. 

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    Features and Benefits

    • Open, close and maintain instant access 'virtual' accounts for individual clients (unlimited number).
    • Manage multiple customer accounts using a single 'pooled account'.
    • Automated reconciliation of the virtual accounts against the pooled account.
    • Interest on funds is automatically calculated and credited to each client on a quarterly basis.
    • Client statements and certificates of interest are automatically generated by the system.
    • A comprehensive portfolio of reports is available within the system for your management information needs.
    • A full history of your virtual accounts, including closed accounts, is available.
    • Export reports for processing in your systems including reconciliation of bank statements.

     

    Financial Services Compensation Scheme

     

    • Allied Irish Bank (GB) is covered by the Financial Services Compensation Scheme (FSCS). Eligible depositors including Clients' Accounts of Professional Firms (such as Solicitors and Chartered Accountants) held within VAM are each entitled to claim up to £85,000 of the money they have deposited. Other firms' Client Accounts may also be covered if they fulfil the FSCS criteria.

     

    VAM can be used by (but is not limited to) the following types of customers:

     

    • Solicitors
    • Pension Management companies/trustees
    • Chartered surveyors
    • Religious bodies & diocesan organisations
    • Media Groups
    • Debt Management Companies
    • Property Management Companies
    • Auctioneers
    • Fund Managers

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Talk to Us

Simply call +44 (0)345 600 5204 (lines are open Monday to Friday 9am to 5pm excluding Bank Holidays). We’ll be happy to answer any questions you might have about Virtual Account Manager. 

 

† Lines open: 9am to 5pm Monday - Friday (except on bank holidays). Calls may be recorded. Call charges may vary - refer to your service provider.

Help and Guidance

 

Help Centre

For all service related queries please visit our Help Centre.

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