Account Manager is an online platform which allows you to open virtual accounts linked to a single bank account, reducing costs and administration.
Account Manager enables the segregation of funds held in physical bank accounts into multiple virtual accounts. Payments are made through Commercial Banking Online and transactions are reconciled automatically to the virtual accounts.
What it means?
You could open multiple bank accounts to segregate deposits and reconcile your funds using spreadsheets or in-house systems, but with Account Manager it is possible to operate a single bank account and manage an unlimited number of multiple virtual accounts to segregate and reconcile deposits.
Why choose Account Manager?
- Account Manager gives you greater control over your accounts and the funds you hold
- Account Manager is flexible, meaning that you can open and close virtual accounts in real time to meet your needs
- You receive comprehensive reporting of virtual accounts and benefit from automated reconciliations which saves you valuable time and removes the need to manually reconcile funds
Who can use Account Manager?
- Account Manager is suitable if you require an account separation service for Undesignated Client Money accounts and is used by a wide range of businesses subject to qualifying criteria, such as Legal Professionals, Accountants, Insolvency Practitioners, Property Managers and Wealth Professionals
- If you want to minimise the time it takes to open virtual bank accounts using Account Manager please speak to your Relationship Manager to obtain more information
Already using Account Manager?
To understand how to use specific functionality within Account Manager please reference the following guides:
- How to import transactions from CBO into Account Manager (PDF, 602KB)
- How to create payments in Account Manager and import to CBO (PDF, 1.1MB)
- How to perform simple interest setup in Account Manager (PDF, 341KB)
- How to develop customised reports in Account Manager (PDF, 740KB)
- How to perform transaction matching / funds allocation in Account Manager (PDF, 1.4MB)
Contact us on 0808 202 1390 for further support on using Account Manager.
(Lines open 7.30am-6pm Monday to Friday)
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