To send a payment to a vendor or supplier, login to Veem and click the Send Money button on the Veem Dashboard.
On the Send a Payment page you have two options depending if you are sending to an existing Contact or to a brand new counterparty. As you start typing in the "Who are you sending to" box, a drop-down will list recipients you have paid in the past. The search goes against both email addresses and names.
If you are sending to a recipient for the very first time, type in a complete email address. You will also fill in some basic information about the recipient including First and Last Name of the contact, the entity's classification as a business or individual, the receiver's country and a phone number.
Enter the currency and amount of the payment.
If the currency of the payment is different from your bank account currency Veem will automatically determine the conversion rate and display the amount that will be debited to your bank account ot fund the transfer.
If the payment currency is the same as your bank account currency, the recipient will receive the payment and be able to select to receive it in the original currency or in the receiver's local currency.
You are prompted to provide any Additional Payment Information including an invoice number and notes or a message to the recipient. You may attach an invoice file to the payment which will be sent to the receiver and be available in your Veem payment history. You may also add multiple email addresses of people you would like to also receive the payment information for informational purposes.
If you know your receiver's complete wiring information you may enter it on the Receiver Information form.
Otherwise, you may skip this page in which case Veem will collect this information from the payee.
You will have a chance to review the complete payment details before submitting. Click the "edit" button next to each section to edit any of the details.
If you are satisfied, click Send to initiate the transfer.
The final page will confirm that your payment has been submitted successfully and the next steps. If you have paid the payee previously, the payment will go through straight away. If it is the first time you have paid the receiver, Veem will confirm the payment details and perform any legal and compliance reviews. This can take one business day depending on the receiver's time zone.
Clicking Finish will return you to the Veem Dashboard.