Nowadays, online payment services like Transferwise, Payoneer and Paysera have been widely used. It enables people outside US to receive payment from companies. These services gives you a bank account details when you sign up to receive your payment.
They called it (virtual bank address) to receive payments. So this is not real account in the bank but just a virtual address? How these online payment services enables you to receive money from different countries as if you have a local account in those countries? Does this mean my payments goes through (let's say transferwise) real bank account and they give give me something like sub account details which is my virtual bank address? I want to know how these companies operate the transfer process?