Virtual accounts vs pooled accounts

When you generate funding account details for a Verto wallet, the type of account details returned depends on the currency, market, and your account setup. Verto supports two models: unique virtual accounts and pooled accounts.

Understanding which applies to your integration is important — the reconciliation approach and the instructions you give to senders differ between the two.

Unique virtual accounts

A unique virtual account provides dedicated account details that are tied exclusively to a single Verto wallet. Any funds sent to these details are automatically credited to the linked wallet — no payment reference is required from the sender.

This is the preferred model where available, as it eliminates reconciliation complexity and reduces the risk of misallocated payments.

How it works:

1. Call the Get Funding Methods endpoint with autoCreate=true
2. Verto generates a unique account number linked to your wallet
3. Share the account details with your sender
4. Any inbound payment to that account number credits your wallet automatically

{
  "fundsType": "segregated",
  "accountName": "Acme Logistics Ltd",
  "accountNumber": "96566547",
  "bankCode": "608382",
  "bankName": "BankingCircle",
  "smartWalletRef": null
}

Pooled accounts

A pooled account is a shared account owned and operated by Verto, used in markets where unique virtual accounts are not available. Because the same account number is used across multiple clients, Verto uses a SmartWallet ID to reconcile incoming payments to the correct wallet that is included in the narration/description.

The SmartWallet ID must be included by the sender in the payment reference on every inbound transfer. Verto's system matches the reference to the correct wallet automatically.

How it works:

1. Call the Get Funding Methods endpoint with autoCreate=true
2. If unique account details are not available, Verto returns pooled account details including a smartWalletRef
3. Share the account details and SmartWallet ID with your sender — the SmartWallet ID must appear in the payment reference
4. Verto reconciles the inbound payment to your wallet using the reference

{
  "fundsType": "pooled",
  "accountName": "Verto Pooled Account",
  "accountNumber": "12345678",
  "bankCode": "608382",
  "bankName": "BankingCircle",
  "smartWalletRef": "SW-00123456"
}

Side-by-side comparison

Which type will I get?

Verto automatically returns the best available account type for your currency and market when you call the Get Funding Methods endpoint with autoCreate=true. You do not choose between the two — the response tells you which type has been generated via the fundsType field.

A single wallet can hold both types of account details simultaneously — for example, a wallet may have unique local account details and a pooled SWIFT account at the same time.

Sender instructions

When sharing account details with your underlying clients or their senders, it is important to communicate the reference requirement clearly for pooled accounts.

For unique virtual accounts: share the account number and bank details. No payment reference is required.

For pooled accounts: share the account number, bank details, and the SmartWallet ID. Instruct the sender to include the SmartWallet ID in the payment reference field of their transfer. A missing or incorrect reference will prevent automatic allocation.