Veem has created a new process of getting paid where Payees don't need to sign up for a Veem account to receive their funds. Claimless Payments allows funds to be automatically deposited into a first-time Payees bank account. Payees are not required to sign up for a Veem account to accept the payment.
Note: If the recipient (vendor, supplier, receiver, etc.) of the transaction is already on the Veem network or has signed up for a Veem account, they don't qualify to receive Claimless Payments.
Veem is currently testing two ways of sending Claimless Payments, To begin sending Claimless Payments, see the flowing flows below.
Option 1: Send a Claimless Payment by Adding your Contact
In your Veem account, go to the My Network tab on your dashboard. To the right-hand side of the page, click the "+" to add a new contact.
Add the contacts' email and country, and uncheck "send email inviting this contact to join Veem". See the image below:
Next, you'll add all the details for this contact. ALL DETAILS IN THESE SECTIONS ARE REQUIRED IN ORDER TO SEND A CLAIMLESS PAYMENT. These sections include:
- Contact Details
- Contact Business Details
Note: If you don't know the contacts TIN/EIN, you can fill that box in with zeros. EX. 00000000
- Contact Bank Details
Click submit. Your contact is now added to Veem.
Now, when you go to send a payment to this contact, they won't need to do anything to receive their funds.
Option 2: Send a Claimless Payment by Sending a Payment
Click "Send Payment" to the left-hand side of your dashboard, type in the email of the receiver, and click "Add New Contact.".
Begin sending a payment by entering the payment details. Once you've entered the payment details, you'll choose the delivery method. Select "Enter Recipient's Banking Details".
Next, you'll enter all details to "Send a bank transfer".
All information in this section, whether sending to a Business or an Individual, is required for the payment to be sent claimlessly.
Finally, review and send your payment.
If you're using QuickBooks Online and want to send Claimless Payments with Veem, see the help article, how to send Claimsless Payments when using Quickbooks and Veem.
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.