Since Payees (recipients, vendors, suppliers, receivers, etc.) don't need accounts, Veem requires more information upfront to verify the recipient and deposit the funds into their bank accounts.
When sending a payment to a payee for the first time, you'll select "Enter Recipient's Banking Details" as the preferred delivery method.
Next, select whether the recipient is a business or an individual. Then, enter all details to "Send a bank transfer."
All information in this section, whether sent to a Business or an Individual, is required for the payment to be deposited with Pay Direct.
Finally, review and send your payment.
Disclaimer: Pay Direct is 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.