In light of recent developments resulting in sanctions from various government institutions, Veem has updated its services to Ukraine and Russia.
The below information may change based on the evolving regulatory environment. Here is what you need to know:
April 6th, 2022:
- Veem no longer supports payments to the Belarusian market, as of the day above. This means:
- Sending new payments to an account in Belarus is disabled.
- In progress payments that are initiated to an account holder in Belarus, will continue processing.
- Payments that have been funded but not yet sent will be refunded to the sender (if applicable).
- Belarusian account holders will continue to have access to their Veem account.
March 16th, 2022:
- Due to the ongoing conflict, Veem no longer supports payments to the Russian market, as of the day above. This means:
- Sending new payments to an account in Russia is disabled.
- In progress payments that are initiated to an account holder in Russia, will continue processing.
- Payments that have been funded but not yet sent will be refunded to the sender (if applicable).
- Russian account holders will no longer have access to their Veem account.
Feb 28th, 2022:
- Veem currently continues to support payments into Ukraine and Russia in USD in accordance with various government sanctions and our banking partner capabilities.
- Veem has temporarily suspended processing payments in RUB to Russia.
- Veem no longer supports multiple Russian banks and their foreign-located branches based on announced sanctions and thus has temporarily suspended services to all Veem accounts associated with these financial institutions until further notice.
- Veem has temporarily suspended any and all services to individuals/businesses located in the regions of Donetsk & Luhansk Oblast.
For more information and elaboration, please feel free to your Account Manager, contact Customer Service here, or visit our Help Center here to find answers to other questions.