🇦🇪 UAE only
Streamlining your fund transfers to your Alaan account is now easier and quicker with the introduction of the new virtual IBAN (vIBAN). If a vIBAN has been issued to you, we recommend using it for all future transfers for faster processing times.
Below, you'll find detailed information about the benefits of using vIBAN, how to locate it in your account, and steps to set it up for future transfers seamlessly.
Benefits of using the new vIBAN
Using the vIBAN provided by Alaan offers several key advantages:
24/7 Availability: The vIBAN is active round-the-clock, allowing transfers at any time of day (excluding holidays).
Hourly Fund Processing: Once the funds reach the beneficiary bank, they are processed and credited to your Alaan account every hour, faster than the pool account.
No Transfer Receipt Uploads: You won’t need to upload receipts for fund transfers, as the vIBAN is unique to your account and automatically identifies incoming funds.
Note: Both vIBAN and pool account transfers are credited only after the funds reach the beneficiary bank. The difference lies in the processing timeline, vIBAN transactions are processed every hour, while pool account transfers are processed only four times a day (9 AM, 12 PM, 3 PM, and 6 PM).
How to locate your vIBAN in the Alaan App
Finding the vIBAN in your Alaan account is quick and easy. Follow these steps:
Log in to your Alaan account.
Navigate to the Dashboard.
Select Primary Wallet.
Click on Add Funds to view your unique vIBAN.
If you don't see a vIBAN on your Alaan account Dashboard, contact Alaan Support at [email protected].
Setting up the vIBAN as a beneficiary
For smoother and faster future transfers:
Open your bank’s app or online portal.
Add your vIBAN as a new beneficiary (follow your bank’s instructions).
Save the details so you don’t need to re-enter them for each transfer.
💡 Tips: Using the new vIBAN for fund transfers to your Alaan account simplifies the process and expedites the crediting of funds. Follow the steps above to locate, use, and save your vIBAN as a beneficiary for seamless future transactions.