The Virtual IBAN is a new payment method that allows you to receive payments via bank transfer or withdraw funds directly from your favorite online sites to your MuchBetter wallet.
Key Points to Keep in Mind:
- The Virtual IBAN is only available to customers located within the European Economic Area (EEA).
- Your MuchBetter wallet must be ID Verified to create a Virtual IBAN.
- You should only send funds to your Virtual IBAN from accounts in your own name. Sending funds from an account in another person's name may result in delays, reversed transactions, and additional fees incurred by your bank.
- You can only have one single Virtual IBAN active at any given time. It can be terminated any time you wish to and you can always obtain a new one if needed.
- There is a 1 EUR fee for each new Virtual IBAN you create.
- If funds are sent in any currency other than EUR, the intermediary bank will convert them to EUR using their own exchange rate.
- Most transfers should be almost instant, but it can take up to 24 hours to be credited in some cases, if all details are entered correctly.
Feel free to contact support@muchbetter.com if you have any additional questions.