Payment Amendment

What should you do if your Veem bank information is incorrect during a payment?

If your bank details on Veem are incorrect or outdated, update them immediately and contact Veem support. The steps you need to take depend on the current status of your payment — acting quickly helps prevent delays, rejections, or funds being sent to the wrong account. You should update your details whenever your bank currency changes, your beneficiary name changes, or your bank account is closed or inactive.

If a payment is already being processed, start by checking the status of the payment.

What should you do when the payment is at the debit step (transfer of funds from the payer’s account)?

• For payers: Contact us as soon as possible if your current bank details are incorrect. Once you update them, we will provide the necessary steps to avoid delays, which may include:
  • Updating your banking information or card details.
  • Providing authorization.
  • Using Plaid to connect your banking details.
  • Submitting proof of funds.
• For receivers: You can update your bank details during this step. Notify us promptly so we can re-verify your account and process the payment to your new bank without delay.

What should you do when the payment is at the credit step (transfer of funds to the payee's account)?

• For payers: Contact us immediately so we can provide you with the necessary steps to prevent your payment from being closed by the payments team.
• For receivers: Notify us right away regardless of whether the transfer has started:
  • If the transfer to your bank has not yet started, we will place the payment on hold so you can update your banking details.
  • If the transfer has already begun, we will request a reversal or recall of the funds to prevent delivery to the wrong account.

Additionally, the receiver may be asked to upload their most recent bank statement. This is to ensure that our payments team can review and verify the accuracy of the new bank information provided.

NOTE: Clients should be vigilant and watch out for emails from our payments team in the event of a debit step failure or payment rejection due to incorrect bank details. This is important to prevent any delays, refunds, or payment closure in processing their transactions.

Need more help? You can chat or call our Customer Success team here.