VAN Virtual Account (VAVS)

What is VAN Virtual Account?

Imagine issuing a unique account number to every customer so that incoming deposits are sorted automatically. Integrating with each bank separately and matching every deposit to the right order becomes hard to manage as volume grows.

VAN Virtual Account (VAVS, Virtual Account VAN System) is a service that uses virtual accounts based on the bank account system to relay deposit, remittance, and account-holder inquiry operations between your system and multiple banks through a single channel. By integrating through Hecto Financial, you can process virtual-account deposits from all banks with one message specification.

Use it for

Virtual-account deposits : Receive deposits into customer-assigned virtual accounts from all banks and channels (CD/ATM, internet/tele-banking, teller windows, and more), and confirm them in real time.
Remittance (transfers) : Send funds when you need to refund customers or transfer to agency or customer accounts.
Account-holder inquiry : Verify the account holder name before remittance or for account verification.

Key operations

Operation	Description	Key messages
Recipient inquiry	Just before a deposit, the bank checks with your institution whether the virtual account can accept the deposit and what account holder name to display.	`2000/2100`
Deposit & cancellation	Processes customer deposits and, for same-day deposits only, handles automatic (system) and general (customer) cancellations.	`1000/1100`, `3000/3100`, `1010/3010`
Remittance	Transfers funds to a customer account. Available via direct bank contract or prepaid-balance (reseller) methods.	`6010/6110`
Account-holder inquiry	Retrieves the account holder name, used for account verification before remittance.	`2001/2101`
Additional services	Supports real depositor name notification, withdrawal account registration, reconciliation summary, and more.	`1030`, `5080`, `7000`

Deposit flow

When a customer attempts a deposit to a virtual account, the bank first checks acceptance with a recipient inquiry (2000). Once your institution responds normally, the actual deposit message (1000/3000) follows.

Customer

Bank

Hecto Financial

Institution

11. Deposit attempt

1. Deposit attempt

22. Recipient inquiry (2000)

2. Recipient inquiry (2000)

33. Recipient inquiry (2000)

3. Recipient inquiry (2000)

44. Inquiry response (2100)

4. Inquiry response (2100)

55. Inquiry response (2100)

5. Inquiry response (2100)

66. Deposit request (1000/3000)

6. Deposit request (1000/3000)

77. Deposit request (1000/3000)

7. Deposit request (1000/3000)

88. Deposit response (1100/3100)

8. Deposit response (1100/3100)

Do not reject a deposit after a successful recipient inquiry

Once you respond normally to a recipient inquiry (2000), the following deposit message must not be answered with an error unless there is a system failure. The bank has already completed the deposit; if you respond with an error, Hecto Financial re-notifies via SAF (retransmission). (Default: every 5 minutes, up to 5 times.)

Deposits are processed using transaction date + institution code + transaction number as the Unique Key, so if the same transaction number is received again via retransmission, the original transaction is checked to prevent duplicate deposits.

Communication method

VAN Virtual Account exchanges fixed-length messages over TCP/IP sockets, not a standard HTTP REST API. It uses the same method as KRW firm banking, but with a different common header and transaction-code system.

Item	Details
Protocol	TCP/IP socket
Message size	Common header 70B + individual body 130B = 200B
Encoding	EUC-KR
Connection	Dedicated line or encrypted internet between bank and Hecto Financial

Receipt agency vs. transaction agency

When Hecto Financial handles recipient inquiry and deposit processing on your behalf, there are two methods based on cancellation authority.

Type	Description
Receipt agency	Your institution decides the result of a cancellation request, and the cancellation is processed according to your response. (Automatic cancellation excluded.)
Transaction agency	Hecto Financial is delegated cancellation authority from your institution and processes it on your behalf.

Precautions

Item	Details
Never error on the deposit message	After responding normally to a recipient inquiry, do not answer the following deposit message with an error. An error response triggers re-notification via SAF (retransmission).
Prevent duplicate processing	Use transaction date + institution code + transaction number as the Unique Key, and check the original transaction on retransmission to prevent duplicate deposits.
Same-day cancellation only	Deposit cancellation messages occur only for same-day deposits and are requested with the same transaction number as the deposit.
Follow the message format exactly	Because these are fixed-length messages, field length, position, and encoding (EUC-KR) must be exact. A malformed message returns an error code from the bank system.
Service application required	VAN Virtual Account requires a separate contract and bank review. Please contact your sales representative. ()