Every transaction on Veem is different and not all Payees need to sign up for Veem 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.
To begin sending Claimless Payments, start by adding the Payee to your Veem network. This can be done 2 different ways:
- Go to "My Network" on the left hand side fo your dashboard. Click the "+" button on the right hand side of the screen.
Type the email and click "Add new contact."
- Click "Send Payment" to the left hand side of your dashboard, type in the receivers email, and click "Add new payee." or "Add new recipient."
Now you'll begin adding your contact to your network. Select the country your recevier is in AND be sure to uncheck the "send email inviting this contact to join Veem" option. See image below:
Next you'll go through 3 separate sections of information Veem needs to ensure the payment can be sent claimlessly.
- Contact Details
- Contact Business Details
- Contact Bank Details
ALL INFORMATION IN THESE SECTIONS ARE REQUIRED FOR A PAYMENT TO BE SENT CLAIMLESSLY.
For a complete breakdown of these sections, see the Information Required for Claimless Payments help article.
Lastly, add your new contact and begin sending your payment with Veem.
No action is required by the recipient for them to receive their funds!
When sending a Claimless Payment, the recipient is going to receive an email letting them know that your company is sending them a payment. In this email it asks them to "Accept Payment". If they click the blue accept payment button, the payment will no longer be claimless and they'll need to finish signing up for a Veem account. It's important they don't interact with this email if they want to receive the payment claimlessly.
However, it's still to everyones advantage to sign up for a Veem account. There is no cost or subscription and they gain access to key features like:
- Faster verfication leading to quicker payments in the future.
- Veems Payment Tracker allowing them to see when a payment is being sent and when it's going to land.
- Full history of all previous Veem transactions.
You are now ready to begin sending Claimless Payments on 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.