Accounts terms in the payments glossary
Accounts terms, each a short page that opens with the answer.
Demand deposit account
A bank account whose funds can be withdrawn on demand, the standard operating account for businesses in the US.
Virtual account
A sub-account reference layered on one real bank account, used to segregate and reconcile funds without opening separate accounts.
Virtual accounts vs real accounts
A virtual account is a reference over one pooled bank account; a real account is individually titled at the bank. The difference is whose money the bank sees.
FBO account
A custodial bank account titled "for the benefit of" a company’s customers, one pooled account holding funds the platform manages on their behalf.
Pooled account
A single bank account holding funds belonging to many customers, tracked in the holder’s own sub-ledger rather than at the bank.
Wallet account
An account that holds stablecoin balances alongside fiat, custody handled by the provider, so businesses move digital dollars without managing keys.
See it on your own flows.
A 30-minute walkthrough of a live account and the screening record behind each payment.