# Virtual accounts — Academium SMS

[View the HTML page](https://academium.com.ng/sms/features/virtual-accounts/)

> Give parents a dedicated bank account number for paying the school, with every transfer recorded against the parent.

Virtual accounts

## An account number for every family.

Each parent gets a dedicated account number. Transfers into it are recorded against that parent automatically.

[Download to get started](https://academium.com.ng/downloads?product=sms) [All SMS features](https://academium.com.ng/sms/features)

Fictional transfers, each recorded against the parent who owns the account.

Dedicated accounts

## Known payer. No guesswork.

Accounts are provided through your payment processor: Monnify, Paystack or Flutterwave.

-   **Per parent.** See which parents have an account, and each parent’s accounts and recent payments on one page.
    

Fictional parents; one gets an account created.

Incoming payments

## Every transfer recorded once.

Payments into a virtual account are recorded with the amount, fee and date, against the parent who owns it.

-   **No double counting.** A payment the processor reports twice is recorded only once.
    
-   **Dashboard and export.** Totals by processor, the last 30 days of payments, and a transaction list you can export.
    

Example dashboard figures.

FAQs

## Virtual accounts questions

Before you set up virtual accounts.

[Still have a question?](https://academium.com.ng/main/page-contact)

### Where are virtual accounts available?

On the online version of SMS, on plans that include them, with the family wallet module switched on and a payment processor set up.

### Can staff open an account for a parent?

No. An account is opened only after the parent completes identity verification with the payment processor. Staff cannot create one from SMS.

### Which payment processors are supported?

Monnify, Paystack and Flutterwave.

## Make paying the school simpler.

Talk to us about setting up virtual accounts with your payment processor.

[Download to get started](https://academium.com.ng/downloads?product=sms) [Explore other features](https://academium.com.ng/sms/features)