Real-time transactions for a virtual account

A non-transitory computer readable storage medium comprising hardware, the non-transitory computer readable storage medium configured with logic, the logic, when executed by a processor, operable to:

• monitor communication over a dedicated interface between a financial institution that provides a financial account for a user and an electronic payment service external to the financial institution, the electronic payment service provides a virtual account for the user, the dedicated interface comprising a physical or logical point-to-point interface that forms a private network between the financial institution and the electronic payment service;
• determine that the user initiated a request for a financial transaction, the financial transaction configured to transfer funds from a source to a destination, wherein the virtual account is selected as either the source or the destination;
• validate the financial transaction based on data received from the electronic payment service over the dedicated interface;
• confirm that the electronic payment service is trusted based on receiving the validation data over the dedicated interface;
• transfer the funds to the destination after confirming that the electronic payment service is trusted, the transfer of funds occurring prior to hard-posting the financial transaction such that the funds become available at the destination in real-time while the financial transaction is pending;
• receive up-to-date information for the virtual account on a continual basis, the up-to-date information received by the financial institution from the electronic payment service via the dedicated interface, the up-to-date information comprising an account balance associated with the virtual account;
• determine that the account balance received from the electronic payment service exceeds a threshold pre-configured by the user;
• and
• pull funds that exceed the threshold from the virtual account to the financial account in real time.

A method, comprising:

• performing, by one or more processors, the steps of:
• monitoring communication over a dedicated interface between a financial institution that provides a financial account for a user and an electronic payment service external to the financial institution, the electronic payment service provides a virtual account for the user, the dedicated interface comprising a physical or logical point-to-point interface that forms a private network between the financial institution and the electronic payment service;
• determining that the user initiated a request for a financial transaction, the financial transaction configured to transfer funds from a source to a destination, wherein the virtual account is selected as either the source or the destination;
• validating the financial transaction based on data received from the electronic payment service over the dedicated interface;
• confirming that the electronic payment service is trusted based on receiving the validation data over the dedicated interface;
• transferring the funds to the destination after confirming that the electronic payment service is trusted, the transferring of funds occurring prior to hard-posting the financial transaction such that the funds become available at the destination in real-time while the financial transaction is pending;
• receiving up-to-date information for the virtual account on a continual basis, the up-to-date information received by the financial institution from the electronic payment service via the dedicated interface, the up-to-date information comprising an account balance associated with the virtual account;
• determining that the account balance received from the electronic payment service exceeds a threshold pre-configured by the user;
• and
• pulling funds that exceed the threshold from the virtual account to the financial account in real time.