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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 

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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 order 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.

Complimentary Insurance

Unauthorised Transactions Insurancedisclaimer protects the business entity against unauthorised card use of the ANZ Virtual Card up to $37,500 per eligible authorised user per annum, and $200,000 per annum for the total card facility. This insurance is provided at no extra cost if you have an ANZ Virtual Card.

Transit Accident Insurancedisclaimercovers eligible authorised users or cardholders and their spouses and dependants with the authorised user or cardholder for certain injuries and loss of life sustained on a trip, the full cost of which was purchased with the cardholder’s ANZ Virtual Card.  

These insurances are provided at no extra cost with your ANZ Virtual Card. Terms, conditions, exclusions, limits and eligibility criteria apply. 

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.

Your ANZ Virtual Card provides Unauthorised Transaction Insurance cover and Transit Accident Insurance cover at no additional cost. For full details, please refer to the ANZ Virtual Card Facility Terms and Conditions booklet (PDF 1MB).

Unauthorised Transactions Insurance and Transit Accident Insurance are part of a Group Policy issued by AWP Australia Pty Ltd ABN 52 097 227 177 AFSL 245631 (trading as Allianz Global Assistance) under a binder from the underwriter, Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL 234708 to Australia and New Zealand Banking Group Limited (ANZ) ABN 11 005 357 522 AFSL and Australian credit licence 234527 which allows eligible ANZ account holders and authorised users or cardholders to claim under the Group Policy as third party beneficiaries. The eligibility criteria, terms, conditions, limits and exclusions of the group policy are set out in the ANZ Virtual Card Facility Terms and Conditions booklet (PDF 1MB) [RJ1]  which may be amended from time to time. ANZ does not guarantee this insurance. Any advice has been prepared without taking into account your objects, financial situation or needs. You must check whether or not it is appropriate, in light of your own circumstances, to act on this advice.

*If you opened your account earlier than 01 November 2019, these terms will not apply to you until 20 January 2020 and the eligibility criteria, terms, conditions, limits and exclusions of the group policy that set out in the ANZ Virtual Card Facility Terms and Conditions (PDF 343kB) will apply.

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