Dynamic FX Pricing
Terms and Conditions
For customers new to Veem on or after August 8, 2024 (“New Customers”). Customers of Veem that processed transactions prior to August 8, 2024 will remain on Veem’s existing pricing program and receive Standard Pricing for FX activity.
Veem offers dynamic foreign exchange transaction rates for different currency groupings (“FX Categories”) that are adjusted monthly based on actual foreign exchange processing activity within a Category in the preceding monthly period. The Initial foreign exchange rates for each Category are set at introductory rates assuming processing will occur at the highest processing level and will remain in effect until the end of a complete month. After that time the rates will be established based on tiers that offer pricing discounts for higher monthly processing activity. Veem’s currency groupings are as follow:
Currency Categories
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Category | Currencies |
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Major | AUD, CAD, CHF, DKK, EUR, GBP, HKD, NOK, NZD, SEK, SGD, USD |
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Minor 1 | CZK, HUF, ILS, JPY*, MXN, THB, TRY, PLN*, ZAR |
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Minor 2 | AED, BGN, DOP, EGP, IDR, MAD, RON, RUB, SAR, VND, INR, PHP, GTQ, ZMW, HRK, TTD, BMD, CRC, FJD, JMD, JOD, KES, KWD, KZT, MUR, PEN, RSD, TND, UYU, UGX |
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Tertiary | ALL, AMD, ARS, BDT, BBD, BHD, BND, BRL*, BSD, CLP, COP*, CNY*, DZD, HNL, ISK, KRW, KYD, LBP, LKR, MOP, MWK, MYR, MZN, NPR, OMR, PKR, QAR, SZL, TWD |
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Pricing Tiers
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Pricing Tier | Volume for Tier |
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Standard Tier | Up to $49,999 |
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FX 1 | $50,000 to $99,999 |
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FX 2 | $100,000 to $249,999 |
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FX 3 | $250,000 to $499,999 |
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FX 4 | $500,000 to $999,999 |
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FX 5 | $1 million+ |
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*Pricing within a currency Category may not be uniform across all currency types due to differences in market exchange rate prices.
Veem displays the rate that will apply to a transaction in the confirmation step for the transaction. Veem reserves the right to change its prices at any time.