Accounts & IBANs on HercleX

This article explains the different account types available on HercleX, how Virtual IBANs work, and the key differences between account configurations.

Account Types

HercleX offers three types of fiat accounts, each designed for different use cases. The type of account you have determines what kind of payments you can send and receive, and whether you can open sub-accounts for your end users.

Virtual Account

• First-party payments only — you can send and receive payments in your own name. Third-party payments (from or to other entities) are not supported.

• Available for both business and individual end users.

• Suitable for businesses that only need to move their own funds through the platform.

Dedicated Account

• First-party and third-party payments — you can send and receive payments both in your own name and on behalf of other entities.

• Available for business end users only. Individual end users cannot hold a Dedicated Account.

• Ideal for corporate treasuries and businesses that need to receive payments from clients or counterparties.

Pooled Account

• First-party and third-party payments — same payment capabilities as a Dedicated Account.

• You can open both Dedicated Accounts (for business end users) and Virtual Accounts (for both business and individual end users) for your end users.

• Ideal for VASPs, PSPs, and payment companies that want to extend fiat banking services to their own client base through Hercle’s infrastructure.

Account comparison

Your account type is assigned during onboarding based on your business model and use case. If you believe your current account type does not match your needs, contact your account manager to discuss options.

Virtual IBANs

A Virtual IBAN (vIBAN) is a reconciliation tool, not a separate bank account. It provides a unique IBAN that routes incoming payments to the parent account’s balance. A Virtual IBAN does not hold its own balance and is not a segregated account — all funds received through a Virtual IBAN are credited directly to the balance of the account it belongs to.

Key characteristics

• No own balance: a Virtual IBAN is an identifier for payment routing and reconciliation purposes. It does not maintain a separate balance.

• First-party only: a Virtual IBAN can only send and receive payments where the counterparty is the same entity that owns the parent account. Third-party payments are not supported through Virtual IBANs.

• Currency-specific: each Virtual IBAN is linked to a specific currency (EUR, USD, or GBP).

When to use a Virtual IBAN

Virtual IBANs are useful when you need a unique payment reference for reconciliation — for example, to identify which of your internal cost centres or sub-entities originated a deposit. Because all funds land in the same parent account balance, Virtual IBANs simplify cash management while still providing clear payment attribution.

How to get a Virtual IBAN

Virtual IBANs are set up by the Hercle team as part of your account configuration. Once assigned, you can view your Virtual IBAN details in the platform under Transfers → Deposit → Fiat. If you need additional Virtual IBANs, contact support.

Supported Fiat Currencies and Payment Networks

CHF is planned and will be announced when available.

Frequently Asked Questions

What is the difference between a Virtual IBAN, a Dedicated Account, and a Pooled Account?

A Virtual IBAN is a reconciliation tool — it provides a unique IBAN for payment routing but does not hold its own balance. All funds received through a Virtual IBAN are credited to the parent account. A Dedicated Account is a full account with its own balance that supports both first- and third-party payments, available for business end users only. A Pooled Account is a top-level account that can open both Dedicated and Virtual Accounts for its end users, designed for businesses that provide banking services to their own clients.

Can a Virtual IBAN receive payments from third parties?

No. Virtual IBANs support first-party payments only. The sender name must match the entity that owns the parent account. Payments from a different entity will be rejected or returned. If you need to receive third-party payments, you need a Dedicated or Pooled Account.

Can a Dedicated Account open sub-accounts for end users?

No. Only Pooled Accounts can open sub-accounts (both Dedicated and Virtual) for end users. Dedicated Accounts do not have this capability.

Can individual end users have a Dedicated Account?

No. Dedicated Accounts are available for business end users only. Individual end users can be assigned a Virtual Account through a Pooled Account.

Can I manage EUR, USD, and GBP under a single Hercle account?

In most cases, yes. Your account can hold balances in all three currencies under the same credentials. If your setup requires separate accounts for different currencies, your account manager will advise during onboarding.

My IBAN was migrated between accounts — what changed?

Occasionally, Hercle may migrate IBANs as part of infrastructure improvements or banking partner changes. If your IBAN has been migrated, your account manager will notify you with the new details. All existing deposit instructions should be updated to reflect the new IBAN. Previous IBANs will continue to work for a transition period, after which they will be deactivated.

The balance on my account shows incorrect amounts after a payout — how do I reconcile?

Balance discrepancies after a payout are typically caused by a timing difference between the trade settlement and the withdrawal execution. Check the History section for the exact sequence of trades, settlements, and withdrawals. If the discrepancy persists after all transactions have settled, contact support with the relevant transaction IDs.

Can I have a dedicated production test account separate from my live account?

Yes — Hercle provides sandbox environments for API testing. If you need a separate test account for production-level validation, contact your account manager.

If your question is not covered here, submit a request through the Hercle support centre and the team will respond within 1 business day.