ANZ Virtual Card

ANZ Virtual Card

Simplifying Strategic Supplier Payments

The ANZ Virtual Card is a 16 digit Visa account number that supports payments of strategically managed accounts, allowing multiple employees to purchase on behalf of an organisation without issuing individual plastic cards.

Benefits of the ANZ Virtual Card
Customer Needs Our solution
Broad acceptance Visa is accepted in more places, worldwide, than any other type of card. Visa’s broad acceptance helps eliminate the use of cash, reducing personal reimbursements and allows greater control of corporate expenditure.
Greater efficiency Transform manual, paper-based procurement & accounts payable processes into a leaner system that generate significant cost savings and potentially improve working capital.
Card management With ANZ’s Virtual Card, administrators have greater control of Virtual Card Buyer’s spend limits and can manage transactions via ANZ eManagement and Expense Management Systems.
Convenience Multiple buyers can place orders with strategically managed suppliers without the need to be issued their own Corporate Card. Separating supplier spend on a centralised account enhances visibility and control.
Transparency With a small number of virtual cards as opposed to a pool of corporate/purchasing cards, reconciliation is consolidated, providing transparency of company spend at both departmental and an individual level. Daily data feeds provide close to real time reporting.
Improved working capital Manage working capital by extending day’s payable and safeguard your organisation from increases to Cost of Funds.
Peace of mind Unauthorised Transactions Insurance protects the company against misuse of the ANZ Virtual Card up to $37,500 per cardholder per annum, and $200,000 per annum for the total card facility.
Transit Accident Insurance covers certain injuries and loss of life sustained on a trip purchased with your ANZ Virtual card.  
These insurances are provided at no extra cost with your ANZ Virtual Card.
Improve buying power Purchasing insights places your organisation in a stronger position to negotiate purchasing terms, improve supplier relationships by accelerating invoice settlements while extending Days Payable Outstanding, and removing the account from the supplier’s balance sheet.
Governance Enforce the corporate policy with strategic buying arrangements. Utilise spend and limit controls to drive compliance.
Flexibility ANZ’s Virtual Card enables multiple buyers to access a single account. It can complement an existing commercial card program where the cardholder is the only person able to access the account.

Complimentary Insurance

From 11 April 2018, the insurer of your ANZ Commercial Card Commercial Card complimentary insurances1 will be changing from QBE2 to Allianz3. For your ANZ Virtual Card the Unauthorised Transaction Insurance cover will remain the same. We will also be including complimentary Travel Transit Insurance cover at no extra cost. Learn more about commercial card insurance.

For any further enquiries please contact your ANZ Relationship Manager.

1. Complimentary insurances refers to the eligibility criteria you must meet for cover under a Master Policy as set out in the ANZ Travel Account Card Facility Terms and Conditions booklet. Advice does not take into account your personal needs and financial circumstances and you should consider if it is right for you.

2. Allianz Australia Insurance Limited, ABN 15 000 122 850.

3. AWP Australia Pty Ltd (ABN 52 097 227 177) trading as Allianz Global Assistance issues and manages the Master Policies under a binder from the underwriter, Allianz Australia Insurance Limited (ABN 15 000 122 850).

The Unauthorised Transactions Insurance and Transit Accident Insurance are part of a group policy issued by Allianz Australia Insurance Limited, ABN 15 000 122 850 to ANZ. Access to the benefit of cover is provided to eligible ANZ cardholders by operation of s48 of the Insurance Contracts Act 1984 (Cth). The terms, conditions and exclusions apply which may be amended from time to time. The Terms and Conditions are contained within the ANZ Virtual Card Terms and Conditions booklet (PDF 336kB).

 

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