Modes of transaction

Virtual Account Transfers

This section explains the type of fund transfers possible with Virtual Accounts.
Intra-wallet account transfer: funds transfer from a static account to another static account. Only static accounts can make transfers in the Virtual Accounts service because they have an accounting ledger.

Inter-wallet account transfer: transfer funds from a static account in BaseOne to an account outside BaseOne. In your merchant integration, you can move money to a commercial bank account from a BaseOne static account, static-collection holding account, or corporate wallet.

Kind of Transactions

This section explains the difference between credit and debit transactions in Virtual Accounts.
Credit transaction: moves funds from the corporate wallet into a static account in BaseOne.

Debit transaction: moves money from a static account to a Virtual Accounts collection account or corporate wallet.

Flow of Fund

Figure showing how funds move though BaseOne virtual accounts — Figure illustrating how funds are moved through the BaseOne virtual accounts