International wire transfers
Our Technology Lets You Easily Send International Wire Transfers for Less
Just Veem it!
Good-bye bank to bank wire transfer fees. Streamline your global business transfers and save. Every minute spent on the headache of an international bank transfer means less time for innovation and growth. Streamline your international business payments and save now.
We have pioneered a new global payment method using both traditional and digital means to move money directly from your bank account to that of your recipients – saving you time, money and headaches.
We are backed by some of the most sophisticated investors in Silicon Valley, San Francisco, New York, Boston, Japan and Australia.
The largest difference between traditional banks and Veem is that we use more efficient “payment rails” or “plumbing” than a bank. When a bank sends money overseas, they are unable to send it directly to the receiving bank. Your money is actually passed through many cooperating “intermediary banks” each taking a small fee for themselves.
Real-time tracking also shows proof of transaction, giving businesses a deeper sense of security by eliminating the threat of fraud. The funds are deposited directly to the receivers’ account in the exact amount expected, all in their local currency.
Know your customer compliance
In light of growing corruption, bribery and money laundering passing through international banks by criminal elements, Know Your Customer (KYC) regulations were instituted by financial institutions in order to prevent banks from being used, whether intentionally or not, by said criminals. Know Your Customer policies integrate four main aspects to help a bank better know its user: Customer identification procedures, monitoring of transactions, customer acceptance policy and risk management. While helpful for curbing crime and protecting customers, the cost or regulatory compliance has made it so that banks are less likely to use correspondent relationships, especially because banks are uncertain whether regulations will grow even stricter.
The Legacy of outdated technology in the banking system has left us with some inefficient artifacts that are still in play today. SWIFT, the Society for Worldwide Interbank Financial Telecommunications, was established in the 70’s and was supported by over 200 banks in fifteen different countries. SWIFT created a worldwide communications network that shared and processed financial data and put in place a set of standardized codes that allowed banks to send and receive information in a secure and consistent manner.
Veem avoids intermediary bank networks. We transport your payments through cutting-edge blockchain technology. And because we only touch your payments once we only need to charge you once. Less touches means less fees and faster payments.
Veem removes friction of global payment process for SMBs
Securing your businesses data, privacy and payments is just the start. Begin your transaction knowing our staff has taken the time to verify the business partners information. Our team of professional global payment processors confirm your vendor’s bank details and make sure they have passed all regulatory compliance requirements whether you are sending or receiving money from abroad.