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Multi-Currency Balance for Veem Wallet

Starting May 12, your Veem Wallet will support up to 15 currencies. Send, receive, and hold multiple currencies with ease and FDIC protection.

When is this change released?

January 12th, 2025.

Who is this available for?

The Veem Wallet is available to all countries except Brazil.

What is a Multi-Currency Balance and how does it work?

This feature allows you to hold multiple currencies in your Wallet. You will first need to add a balance for each currency you want to manage. For example, if you’re receiving payments in euros (EUR), you can create an EUR balance to store that currency, convert it from or to a CAD balance, and withdraw it to your bank account at any time.

How do I add a new Currency Balance?

To add a new currency balance to your Veem Wallet follow these simple steps:

  1. Go to your Veem Wallet
  2. Next to Currency Balances, select “ADD CURRENCY”
  3. Choose which currency you would like to add to your Wallet

Which Currency Balances are now available?

These are the currency balances available with your Veem Wallet: USA Dollar (USD), Canadian Dollar (CAD), British Pound (GBP), Euro (EUR), Australian Dollar (AUD), Indian Rupee (INR), Japanese Yen (JPY), Mexican Peso (MXN), South Korean Won (KRW), Saudi Riyal (SAR), South African Rand (ZAR), Turkish Lira (TRY), Indonesian Rupiah (IDR), CNY, PHP

How do I add funds to my Currency Balance?

You can add funds to your currency balance from a USD balance, or by requesting a payment or creating an invoice with that currency balance as the chosen receiving method, or by setting your currency balance as your default receiving method in Settings > Get Paid. So that funds that are sent to you will be delivered to that currency balance.

How do I withdraw the funds from my Currency Balance?

You can withdraw from your balance, within minutes using your debit card (1% withdrawal fee), or to your bank account. If your bank account is in a different currency, then foreign exchange (FX) may apply.

Are all of my Wallet balances FDIC insured?

Yes. All of your currency balances are backed by FDIC insurance, protecting your funds up to $250,000 USD, in partnership with our banking partner, Citi Bank.

 

Have more questions?

If you still have questions, please feel free to reach out to your Account Manager, or contact Customer Service.