We’re excited to announce that named Virtual Accounts are coming to the PIN Network App and will soon be available as a standard feature for all PIN customers based in Australia.

We’ve worked hard over recent months to bring Virtual Accounts to life, helping make AUD bank transfer deposits easier and more streamlined for our Australian customers.

Named Virtual Accounts will be introduced in PIN Network App version 3.15.

Your own dedicated BSB and account number

Your Virtual Account will be unique to you, registered in your name and linked directly to your PIN Account.

Once your Virtual Account has been created, you’ll receive your own dedicated BSB and account number for depositing AUD.

This means you’ll no longer need to deposit funds using the existing shared bank account details. The details currently displayed in the app will be replaced with your own named Virtual Account.

Apply directly within the PIN App

You’ll be able to create your Virtual Account by completing a short in-app application containing a few personal details required by our banking partner.

The process is much quicker and easier than before, with no lengthy application form to complete and return to the PIN Team. Your Virtual Account will usually be generated within a few moments.

To apply, simply go to:

Home > Deposit > Deposit AUD – Bank Transfer

Enter the requested details, select Create Account and follow the prompts.

If your account takes a little longer to generate, you can close the screen and return later. Bridge On and card deposit options will remain available while your Virtual Account is being created.

Existing deposit rules still apply

As a reminder, you’ll need to have a verified Australian bank account linked to your PIN profile before you can apply for a Virtual Account.

The existing rules for AUD deposits will continue to apply. Funds must be sent from your own verified bank account registered in your name.

Deposits from third parties or bank accounts belonging to another person cannot be accepted and may be delayed or returned.

How your Virtual Account works

Your Virtual Account operates much like a regular bank account and is registered in your name. However, it is designed to receive incoming deposits only.

This means:

You can deposit AUD into your dedicated Virtual Account from your verified bank account.
Outbound transfers cannot be made directly from your Virtual Account.
Funds received will be credited to your PIN Account.
You can continue withdrawing funds through the standard PIN cashout process.

Your Virtual Account is a deposit facility attached to your PIN Account. It does not replace the standard cashout process.

Already have a PIN Virtual Account?

If you already have a Virtual Account with us, your Virtual Account number will change as part of the transition to our new system.

You’ll need to create a new named Virtual Account within the PIN App by going to:

Home > Deposit > Deposit AUD – Bank Transfer

Your current Virtual Account number will remain active for a short period while we complete the transition. However, we recommend creating your new account and using the updated details once they become available.

Automated deposits are coming

Virtual Account deposits will soon be fully automated.

While we complete the final stages of testing, some deposits may still require a PIN Team member to process them manually. This temporary step allows us to ensure the new system is working as intended before full automation is enabled.

We appreciate your patience during the transition.

Available in PIN App version 3.15.0

Named Virtual Accounts will be available to Australian customers in PIN Network App version 3.15.0

Once the update becomes available, download or update the app through the Apple App Store or Google Play, then follow the in-app prompts to create your account.

Download or update the PIN App:
https://payitnow.io/download-app

Thank you for your continued support. We’re proud to bring named Virtual Accounts to our wider Australian customer base and make depositing AUD into the PIN Network easier than ever.

The PIN Team

Important: The Pay It Now team will never ask for your PIN Network App password, 2FA codes, or credit card details - including any numbers from your Web3 Mastercard® Please be aware that the information provided here is for educational and informational purposes only and should not be considered as financial or investment advice.

Virtual Accounts Are Coming to PIN Australia