Claimless Payments allows funds to be automatically deposited into a first-time Payees bank account and they are not required to sign up for a Veem account to accept the payment. Since Payees (recipient, vendor, supplier, receiver, etc.) don't need an account, Veem requires more information upfront in order to verify the recipient and deposit the funds to their bank account.
Some transactions may require further validation of the receiver, and will not be eligible as a claimless payment. Claimless payments must be sent in the recipient’s local currency. Individuals in China receiving CNY are not eligible for Claimless Payments.
For a walkthrough on how to send a Claimless Payment, see the How to send Claimless Payments on Veem help article.
Disclaimer: Claimless Payments are not a guarantee if a recipient is on any sanctions match list.
Still need help? You can chat or call our Customer Success team here.