Instant Bank Transfers
Effective April 9th, 2025, Instant Bank Transfers are available in the U.S. to help speed up domestic payments at a low 1% fee of your total transaction. This new feature is part of Veem’s expedited payment options.
How can I use Instant Bank Transfer?
Before you begin, make sure you add a bank account to your Veem account first. Once complete, follow these three simple steps:
- Step 1: Go to “Send payment” in your Veem account
- Step 2: Select “Instant Bank Transfer” from the payment option menu
- Step 3: Complete your transaction by filling out the remaining payment information
Once the payment has been submitted, your bank transfer will be processed in minutes.
Understanding Your Domestic Payment Options
Now you have more control over how quickly your domestic bank transfers are processed:
|
Instant Bank Transfers Within minutes |
Experience the convenience of instant payments where funds are transferred within minutes for quick and easy settlements. |
|
Fast Transfers Within 24 hours |
Speed up the payment processing time from 3-5 business days (for regular bank transfers) to just 24 hours (Fast Transfer). Learn more |
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Bank Transfers (Regular) 3-5 business days |
Enjoy a simple and reliable way to send payments directly from your bank account, domestically or internationally, with no hidden fees. |
When will this feature be available?
April 9th, 2025
Are there min/max spending requirements for Instant Bank Transfers?
Yes, your payment must be a minimum of $10 USD to qualify for Instant Bank Transfers. The maximum transfer limit is $50,000 USD per transaction.
How much is the fee for Instant Bank Transfers?
The fee is 1% of the transaction amount, with a maximum of $20. The fee can be covered by either the sender or the receiver.
Which countries can I send or receive an Instant Bank Transfer to/from?
Instant Bank Transfers are only applicable U.S. domestic bank transfers.
Why can't I see Instant Bank Transfers in my Veem account?
If you are located in the U.S. and can’t see “Instant Bank Transfers, your bank account might not be supported. Instant Bank Transfers are only available with participating banks. Please contact support to confirm if your bank is eligible.