--- title: Introducing Regular Bank Transfer (ACH/EFT) for Basic Plan description: Effective January 8, 2025, users on Veem's Basic plan can send regular domestic bank transfers for $1 USD ($1.49 CAD). --- [Skip to content](https://help.veem.com/introducing-regular-bank-transfer-ach/eft-for-basic#main-content) English Show submenu for translations [Customer portal](https://help.veem.com/tickets-view?hsLang=en) [![veem-logo-2](https://help.veem.com/hubfs/veem-logo-2.svg)](https://www.veem.com/) Open main navigation Close main navigation - English Show submenu for translations - [Customer portal](https://help.veem.com/tickets-view) - [Contact us](https://www.veem.com/contact/) [Contact us](https://www.veem.com/contact/) How can we help you? - There are no suggestions because the search field is empty. 1. [Help Center](https://help.veem.com/?hsLang=en) 2. [Product Updates](https://help.veem.com/product-updates?hsLang=en) 3. [Changes to Veem Account | January 2025](https://help.veem.com/product-updates?hsLang=en#changes-to-veem-account-january-2025) # Introducing Regular Bank Transfer (ACH/EFT) for Basic Plan ## Effective January 8, 2025, users on Veem's Basic plan can send regular domestic bank transfers for $1 USD ($1.49 CAD). Users on the **Basic plan** can now send domestic bank transfers for a flat fee of just $1 USD ($1.49 CAD)\* per transfer—helping streamline costs and simplify payment management. **Avoid fees and get unlimited free domestic transfers when you [upgrade to Premium](https://help.veem.com/hc/en-us/articles/11281951927059-how-to-update-the-veem-platform-plan?hsLang=en) today.** You can change your plan or cancel at any time. *\*This fee only applies to domestic bank transfers in the United States or Canada* **Ways to send domestic payments with Veem Basic:** | **Domestic Payment Options** | **Processing Time** | **Associated Fees** | | --- | --- | --- | | **NEW** Regular Bank Transfer (ACH/EFT) | 3-5 business days | $1 USD ($1.49 CAD)**\*** | | Fast Transfer (ACH/EFT) | 24 hours | 0.5% | | Debit Card | 2-3 business days | 3.5% | | Credit Card | 2-3 business days | 3.5% | *\*This fee only applies to domestic bank transfers in the United States or Canada* **Frequently Asked Question** **When is this feature released?** This feature is being launched on January 8, 2025. **Who has access to this feature?** Veem customers in the USA and Canada who are on the Basic plan. Customers on the Premium plan will continue to have a free bank transfer option. [Compare the plans](http://veem.com/pricing?hsLang=en#features) **Who pays the Regular Bank Transfer fee?** The $1 USD ($1.49 CAD) fee only applies to domestic bank transfers in the United States or Canada. The initiator of the transaction is responsible for the fee.  **Who is considered the initiator of a payment?** The initiator is the person or business that starts a payment transaction, either by sending or requesting a payment. For example, if a business requests a payment and you fulfill it, the $1 fee will apply to the business that requested the payment. **Does the Regular Bank Transfer fee change based on the payment amount?** No. For users on Veem’s Basic Plan, there is a $1 USD ($1.49 CAD) that applies to each regular bank transfer, regardless of the amount. [Compare the plans](http://veem.com/pricing?hsLang=en#features) **What is a domestic bank transfer?** A domestic bank transfer is a transaction made between banks within the same country.  For example, if you're paying a supplier in the United States from your U.S. bank account, this would be considered a domestic transfer. **What is an ACH/EFT transfer?** ACH transfers are primarily used in the United States as part of the domestic Automated Clearing House network regulated by NACHA for bank-to-bank transfers. Electronic Fund Transfer (EFT), is Canada's equivalent to ACH. **What is the difference between Domestic Bank Transfer and Fast Transfer?** Both are options for domestic payments, but they differ in cost, speed, and availability. Fast Transfers, available with Veem's Basic and Premium Plan at a 0.5% fee, are typically processed within 24 hours. In contrast, ACH/EFT, launching on January 1, 2025, will cost $1 per transfer and take 3–5 business days to process as a standard domestic bank transfer - [Product Updates](https://help.veem.com/product-updates?hsLang=en#main-content) - [Changes to Veem Account | September 2026](https://help.veem.com/product-updates?hsLang=en#changes-to-veem-account-september-2026) - [Changes to Veem Account | August 2026](https://help.veem.com/product-updates?hsLang=en#changes-to-veem-account-august-2026) - [Changes to Veem Account | July 2026](https://help.veem.com/product-updates?hsLang=en#changes-to-veem-account-july-2026) - [Changes to Veem Account | April 2026](https://help.veem.com/product-updates?hsLang=en#changes-to-veem-account-april-2026) - [Changes to Veem Account | January 2026](https://help.veem.com/product-updates?hsLang=en#changes-to-veem-account-january-2026) - [Changes to Veem Account | October 2025](https://help.veem.com/product-updates?hsLang=en#changes-to-veem-account-october-2025) - [Changes to Veem Account | May 2025](https://help.veem.com/product-updates?hsLang=en#changes-to-veem-account-may-2025) - [Changes to Veem Account | April 2025](https://help.veem.com/product-updates?hsLang=en#changes-to-veem-account-april-2025) - [Changes to Veem Account | January 2025](https://help.veem.com/product-updates?hsLang=en#changes-to-veem-account-january-2025) - [Changes to Veem Account | December 2024](https://help.veem.com/product-updates?hsLang=en#changes-to-veem-account-december-2024) - [Changes to Veem account | September 2024](https://help.veem.com/product-updates?hsLang=en#changes-to-veem-account-september-2024) - [Changes to Veem account | July 2024](https://help.veem.com/product-updates?hsLang=en#changes-to-veem-account-july-2024) - [Changes to Veem account | August 2023](https://help.veem.com/product-updates?hsLang=en#changes-to-veem-account-august-2023) - [Changes to Veem account | January 2023](https://help.veem.com/product-updates?hsLang=en#changes-to-veem-account-january-2023) - [Changes to Veem account | July 2022](https://help.veem.com/product-updates?hsLang=en#changes-to-veem-account-july-2022) - [Changes to Veem account | June 2022](https://help.veem.com/product-updates?hsLang=en#changes-to-veem-account-june-2022) - [Changes to Veem account | May 2022](https://help.veem.com/product-updates?hsLang=en#changes-to-veem-account-may-2022) - [Veem Wallet](https://help.veem.com/veem-wallet?hsLang=en) - [Virtual Bank Account](https://help.veem.com/virtual-bank-account?hsLang=en) - [Veem Virtual Card](https://help.veem.com/veem-virtual-card?hsLang=en) - [Security and Compliance](https://help.veem.com/security-and-compliance?hsLang=en) - [Accountant and Bookkeepers](https://help.veem.com/accountant-and-bookkeepers?hsLang=en) - [Getting Started for Business](https://help.veem.com/getting-started-for-business?hsLang=en#main-content) - [Getting Started - Business Account](https://help.veem.com/getting-started-for-business?hsLang=en#getting-started-business-account) - [Getting Started for Contractors](https://help.veem.com/getting-started-for-contractors?hsLang=en#main-content) - [Getting Started - Individuals, Contractors and Sole Proprietorship accounts](https://help.veem.com/getting-started-for-contractors?hsLang=en#getting-started-individuals-contractors-and-sole-proprietorship-accounts) - [Veem Integrations](https://help.veem.com/veem-integrations?hsLang=en#main-content) - [Xero](https://help.veem.com/veem-integrations?hsLang=en#xero) - [Zapier](https://help.veem.com/veem-integrations?hsLang=en#zapier) - [Integrations FAQ](https://help.veem.com/veem-integrations?hsLang=en#integrations-faq) - [Netsuite](https://help.veem.com/veem-integrations?hsLang=en#netsuite) - [QuickBooks](https://help.veem.com/veem-integrations?hsLang=en#quickbooks) - [Signing Up on Veem](https://help.veem.com/signing-up-on-veem?hsLang=en) - [Account Management](https://help.veem.com/account-management?hsLang=en#main-content) - [Manage your Veem Account](https://help.veem.com/account-management?hsLang=en#manage-your-veem-account) - [Updating Banking Information](https://help.veem.com/account-management?hsLang=en#updating-banking-information) - [Updating the Account](https://help.veem.com/account-management?hsLang=en#updating-the-account) - [Beneficial Ownership Information](https://help.veem.com/account-management?hsLang=en#beneficial-ownership-information) - [Veem Basics FAQ](https://help.veem.com/veem-basics-faq?hsLang=en) - [Sending Payments](https://help.veem.com/sending-payments?hsLang=en#main-content) - [Payment Tracker](https://help.veem.com/sending-payments?hsLang=en#payment-tracker) - [Mass Pay](https://help.veem.com/sending-payments?hsLang=en#mass-pay) - [Payments FAQ](https://help.veem.com/sending-payments?hsLang=en#payments-faq) - [Pay Direct](https://help.veem.com/sending-payments?hsLang=en#pay-direct) - [Guest Pay](https://help.veem.com/sending-payments?hsLang=en#guest-pay) - [Pay with Credit Card or Debit Card](https://help.veem.com/sending-payments?hsLang=en#pay-with-credit-card-or-debit-card) - [Pay with Veem](https://help.veem.com/sending-payments?hsLang=en#pay-with-veem) - [Receiving Payments](https://help.veem.com/receiving-payments?hsLang=en#main-content) - [Get Paid with Veem](https://help.veem.com/receiving-payments?hsLang=en#get-paid-with-veem) - [Instant Deposit - Debit Card](https://help.veem.com/receiving-payments?hsLang=en#instant-deposit-debit-card) - [Payment Troubleshooting](https://help.veem.com/payment-troubleshooting?hsLang=en#main-content) - [Bank Information Tips & Updates](https://help.veem.com/payment-troubleshooting?hsLang=en#bank-information-tips-updates) - [Payment Troubleshooting FAQs](https://help.veem.com/payment-troubleshooting?hsLang=en#payment-troubleshooting-faqs) - [How - To Videos](https://help.veem.com/how-to-videos?hsLang=en) - [Payment Tracker Statuses](https://help.veem.com/payment-tracker-statuses?hsLang=en) [![veem\_logo\_colour-3](https://help.veem.com/hs-fs/hubfs/veem_logo_colour-3.png?width=100&height=22&name=veem_logo_colour-3.png "veem_logo_colour-3")](http://www.veem.com/https://www.veem.com/?utm_source=hubspot&utm_medium=email&utm_campaign=email_marketing) 1160 Battery Street, Suite 100 San Francisco, CA 94111 Copyright © 2026, Veem Inc