Available Virtual Account Banks and Types in Jack

Creating Virtual Account (VA) in Jack is a breeze. We provide you VAs from several prominent banks in Indonesia. There are several VA types you can choose and apply on too, so you can create VA according to your need. Let’s delve into details in this article.

Table of Contents

• Virtual Account Amount Configuration
• Virtual Account Usage Frequency
• Virtual Account Expiry Time
• Virtual Account Payment Due Date
• Available Virtual Account Banks in Jack
• Related Articles

Jack provides a comprehensive Virtual Account (VA) system designed to cater to a wide range of transactional needs. By offering several customizable VA types, the platform ensures that each VA can be tailored to specific financial requirements, enhancing user experience and transactional security. Below are several VA types which you can configure when creating VA in Jack. Let’s take a look at each of them to understand the terminology and function thoroughly. 

Virtual Account Amount Configuration

1. Open Amount: Give flexibility for senders to transfer any desired amount. This setting is particularly useful for donations, variable billing services, or instances where the exact amount cannot be predetermined.

2. Closed Amount: Give you control to determine upfront the exact amount for transactions. This is essential for situations where precise amounts are critical, such as invoice payments, subscription services, or specific product purchases. Transactions not matching the set amount are automatically declined and refunded to the sender’s bank account, ensuring accuracy and preventing erroneous payments.

You must choose the VA amount configuration from the beginning and you cannot change it once it’s created, except the nominal amount (if you choose the Closed Amount type).  

Virtual Account Usage Frequency

1. Single Use:  Designed for one-off transactions, this setting deactivates the VA after a single successful transaction. Ideal for payment of specific invoices, one-time service fees, or any scenario where repeat transactions are not necessary. You cannot reactivate the deactivated VA, so think thoroughly when determining this mechanism.

2. Unlimited Use: Allows the VA to accept multiple payments until it reaches its expiry. This option is suited for accounts where ongoing transactions are expected, such as regular donations, subscription payments, or frequent transfers from a known entity.

You must choose the VA usage frequency from the beginning and you cannot change it once it’s created.

Virtual Account Expiry Time

1. Flexible Expiry Date and Time: Users can set the VA to expire at a specific date and time. This flexibility allows for both short-term and long-term financial arrangements. A time-bound expiry is useful for limited-time offers or specific campaign durations.

2. Never Expires: Give you the option to reuse a VA number infinitely. This option is suitable for ongoing business needs or personal use where a fixed expiry is not necessary.

You must choose the VA expiry time from the beginning and you cannot change it once it’s created.

Virtual Account Payment Due Date

Real-World Application: Commonly used in e-commerce, this feature allows merchants to set a limited time for customers to complete their payments post-checkout. It helps in managing inventory and financial forecasting. Once the due date passes, the VA temporarily stops accepting payments until you update or remove the due date.

The payment due date is an optional but powerful tool for managing time-sensitive payments, giving you more flexibility and control over payments. You can adjust the due date later after creation easily in the Virtual Account page. You can define, adjust, or remove the due date as you need.

Available Virtual Account Banks in Jack

You have the flexibility to create a Virtual Account in Jack with a selection of 6 prominent banks in Indonesia, providing you with a range of options to suit your customers specific bank preferences and needs.

VA Bank List and Capability

*Please contact our team to enable BCA and BSI Virtual Account

By leveraging these features, you can tailor your VA to suit various transaction scenarios, from e-commerce to personal finance management. Understanding and applying these configurations effectively can enhance the efficiency and security of your financial transactions.

Related Articles

• How to Create a Virtual Account