Victoriabank - Payment Methods Definition | Akurateco
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Victoriabank

Victoriabank is a Moldova-based financial institution that offers innovative solutions to customers. It presents an extensive network of over 100 offices located throughout the country. The staff with more than 1,000 employees includes highly qualified specialists, with some of them working at the facility from the date of its foundation. 

The bank was established in 1989 and chose the name that symbolizes victory. Apart from the fact that it became the first bank of the Republic of Moldova, it really was the first in many areas. For instance, it issued the first bank cards, installed the first POS in the country, introduced the first contactless payment service, etc. In 2018, Banca Transilvania, the largest financial group in Romania, became the majority shareholder of Victoriabank, along with the EBRD. In 2019, the bank offered payments with Garmin Pay.

The bank often partners with different companies as it offers its services for merchants. For instance, the bank offered a 25% discount on the standard commission for granting Leasing financing through BT Leasing MD. This offer is addressed to legal entities who became Victoriabank customers in 2022. 

Victoriabank highlights

Card users can manage their accounts remotely through VB24 Web, VB24 Mobile, while legal entities can do the same through VB24 Business. Using VB24, Victoriabank customers can take advantage of numerous digital services, which can be used simply and quickly, including: SAPI payments (payments in MDL through the automated interbank payment system of the National Bank of Moldova), transfers via SWIFT (on IBAN base). It is also possible to make online transfers and open deposits online.

The advantages of the VB24 platform include the following:

  • It is possible to open the account in any currency allowed by the facility.
  • It is possible to conduct KYC online.
  • Users can view history and account status.
  • It is possible to log in with one-time passport, using the phone number. 
  • The functionality allows users passing templates to another user in VB24 Business.
  • The bank recognizes EBICS XML format for payment orders. 
  • The API is available.

It is worth noting that the informational access is free, while the transactional access is paid. Merchants should contact the bank to find out the bank service fees for their businesses. Victoria bank decided to support the novices. Beginning merchants can benefit from a free first-year account (CPAG). There is also a possibility of unlimited subscription with a fee of 119 Lei monthly. It is available only for organizations or businesses that meet SMEs criteria. It can be profitable to select this option for individual entrepreneurs, NPO, and farmers’ households. The account holders can open business cards in Lei, convert currency, transfer meal vouchers (payment for food in commercial and catering establishments) and employ it for the Salary Project paying to workers. 

It is convenient to use the service for merchants. Numerous bank operations are available for users fast and easily. For instance, it is enough to make just one click to place for depositing, withdrawal of funds, getting a POS statement, sending documents and getting responses through the API. 

Victoriabank is included in the Global Register of Visa and MasterCard Service Providers for the security of digital payments. 

How to connect to the service

Merchants should apply to the nearest bank office to connect to the service, which is open on business days, from 8.45 a.m. to 5.00 p.m. It is also possible to contact the support team online through the online chat on the official website of the bank.  

 

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