Creating and Managing Virtual Accounts

Overview

Virtual accounts (also called subaccounts) let you organize your funds into separate buckets within your main Slash account. Each virtual account has its own balance, transaction history, and account details, making it easy to earmark money for specific purposes: payroll, taxes, marketing spend, client funds, or anything else your business needs to track separately.

Virtual accounts are fully integrated into Slash's banking infrastructure. You can transfer funds between them instantly, assign cards to spend from specific subaccounts, and set up automated rules to route incoming deposits. There's no limit to how many virtual accounts you can create.

This guide covers everything you need to know about working with Slash's virtual accounts: creating them, moving money between them, connecting cards, and managing them over time.

Creating a Virtual Account

Creating a new virtual account takes just a few steps. You can create as many as you need at no additional cost:

Step 1: Navigate to Accounts

From your main dashboard, click on Accounts in the left sidebar. This displays all your existing accounts and subaccounts.

Step 2: Click Create Subaccount

In the upper right corner, click the Create Subaccount button. This opens the subaccount creation form.

Step 3: Name Your Subaccount

Enter a descriptive name for the subaccount. Choose something that makes it easy to identify the purpose at a glance: "Q1 Marketing Budget," "Payroll Reserve," "Client Escrow - Acme Corp," or similar. You can always rename it later.

Step 4: Add an Initial Balance (Optional)

If you want to fund the subaccount immediately, enter an amount to transfer from your main account. This is optional; you can also create the subaccount first and transfer funds later.

Step 5: Confirm and Create

Review the details and click Create. Your new subaccount appears immediately in your accounts list and is ready to use.

How to Find Details for a Virtual Account

Each virtual account has its own banking details, which you can use to receive payments directly into that specific subaccount.

Step 1: Select the Subaccount

From the Accounts page, click on the subaccount you want to view.

Step 2: View Account Details

Click Account Details or the info icon. You'll see the subaccount's unique information, including its account number and routing number. These are specific to this subaccount: funds sent to these details deposit directly here, not to your main account. You should see:

• Account number: A unique number for this subaccount
• Routing number: The ABA routing number for ACH and wire transfers
• Account name: Your business name as it appears on the account
• Bank name: The underlying bank partner information

You can share these details with clients, vendors, or payroll providers to receive payments directly into the appropriate subaccount. You can update a subaccount's name at any time without affecting its account number, routing number, or transaction history.

Transferring Funds Between Accounts

Transfers between your own accounts are instantaneous: there's no waiting period, no holds, and no fees. The money is available in the destination account as soon as you confirm the transfer.

Step 1: Navigate to Move Money

From your dashboard or any account view, click Move Money or Transfer.

Step 2: Select Source Account

Choose which account or subaccount you want to transfer funds from. The available balance displays next to each option.

Step 3: Select Destination Account

Choose which account or subaccount you want to transfer funds to. You can transfer between any accounts you have access to.

Step 4: Enter the Amount

Type the amount you want to transfer. The interface shows your available balance to help you avoid overdrafts.

Step 5: Review and Confirm

Review the transfer details and click Confirm or Transfer. The funds move instantly, and both account balances update immediately.

Assigning Cards to Subaccounts

You can link virtual and physical cards to specific subaccounts, so that card spending draws from that subaccount's balance rather than your main account. This is useful for departmental budgets, project-based spending, or giving team members access to specific funds.

When creating a new card, you can assign it to a subaccount from the start. During the card creation flow, you'll be prompted to select a funding source; simply choose the desired subaccount instead of your main account.

If you want to edit the funding source for an existing physical or virtual card, here's what to do:

Step 1: Navigate to Cards

From the main navigation, click Cards to view all your active cards.

Step 2: Select a Card

Click on the card you want to configure. This opens the card details and settings.

Step 3: Edit Funding Source

Look for Funding Source, Linked Account, or a similar setting. Click to edit.

Step 4: Choose the Subaccount

Select the subaccount you want the card to draw from. Once selected, all new transactions on this card will pull from the chosen subaccount's balance.

Step 5: Save Changes

Confirm your selection. The card is now linked to the subaccount. Any pending authorizations on the card will still settle against the previously linked account, but new transactions will use the new funding source.

Receiving Deposits Into Subaccounts

Subaccounts can receive external deposits directly using their unique account and routing numbers. Supported deposit methods include:

• ACH transfers: Receive payments from external bank accounts, payroll providers, or payment processors
• Domestic wires: Receive wire transfers from US banks
• Internal transfers: Receive funds from your other Slash accounts or subaccounts

Here's how to set up direct deposits into one of your subaccounts:

Step 1: Copy Subaccount Details

From the subaccount's Account Details section, copy the account number and routing number.

Step 2: Provide Details to Sender

Share these details with whoever will be sending funds: a client paying invoices, a payroll provider, or another financial institution.

Step 3: Wait for the Transfer

Incoming ACH transfers typically arrive within 1–3 business days, depending on the sender's bank and whether they use standard or same-day ACH. Domestic wires usually arrive the same day if initiated before cutoff times.

Deposits go directly to the subaccount: When someone sends money to a subaccount's unique account number, it lands in that specific subaccount, not your main account. This helps keep funds organized without any manual sorting on your end.

Managing Subaccount Permissions

If you have team members on your Slash account, you can control who has access to view and manage each subaccount. Team member permissions for subaccounts typically mirror their overall account permissions:

• Admin: Full access to create, edit, transfer, and close subaccounts
• Manager: Can view all subaccounts and initiate transfers, but may not create or close them
• Cardholder: Can only see subaccounts linked to their assigned cards; cannot transfer funds or modify settings

When you assign a card to a team member, they gain visibility into the subaccount funding that card. For broader access, adjust their role from the Team section in your account settings.

Additional Features and Considerations

No Limits on Subaccounts

There's no cap on how many subaccounts you can create, regardless of your Slash plan. Create as many as your business needs without worrying about hitting a limit.

FDIC Insurance

Funds in your subaccounts are held at our partner bank and are eligible for FDIC insurance up to applicable limits, just like your main account. Subaccount balances count toward your overall insured total.

Reporting and Statements

Each subaccount maintains its own transaction history, which you can export or view separately. Monthly statements reflect activity across all your accounts and subaccounts for a complete picture.

API Access

If you use Slash's API, you can create and manage subaccounts programmatically. This is useful for businesses that need to spin up subaccounts dynamically (for example, creating a new subaccount for each new client or project automatically).

Mobile Access

The Slash mobile app supports full subaccount management. You can view balances, transfer funds, and check transaction history from your phone.

Troubleshooting

1. "I can't create a subaccount": Ensure you have the appropriate permissions. Only Admins (and in some configurations, Managers) can create new subaccounts. If you believe you should have access, contact your account administrator.
2. "A deposit went to the wrong account": Double-check that you provided the sender with the correct account number. Each subaccount has its own unique account number. If a deposit landed in your main account instead of a subaccount, the sender likely used your main account's details. You can manually transfer the funds to the correct subaccount.
3. "I can't close my subaccount": Subaccounts must have a zero balance and no linked cards before they can be closed. Transfer out any remaining funds and reassign or cancel any cards drawing from that subaccount first.
4. "Transfers between accounts aren't instant": Internal transfers between your own accounts should be immediate. If you're experiencing delays, ensure you're transferring between accounts within the same Slash entity. Transfers to external accounts (outside Slash) follow standard ACH or wire timelines.

Need More Help?

If you're having trouble creating or managing subaccounts, or if something isn't working as expected, reach out to our support team by clicking the help icon in the bottom right corner of your dashboard or sending an email to support@slash.com.

Our team can help troubleshoot access issues, clarify permissions, or walk you through any subaccount features.