Introducing Veem’s Instant Deposit: Get your money in minutes
December 3, 2019
At Veem, we are constantly trying to find ways to improve our customer experience. At first, this meant utilizing blockchain to create innovate payment rails that surpassed the archaic and slow methods of wire transfers. This allowed Veem customers to receive their funds in 1-3 business days.
To make the transfer process even more transparent, we then introduced our real-time tracker to allow customers to follow their money as it traveled from “sent” to “received.”
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But what if the money delivery was so instantaneous it didn’t require tracking?
After some time, we were presented with a problem – Veem customers waited days to collect payment receipts from customers. As a small business, waiting on cash inflows can lead to stress, inefficient money management, and friction between payment parties.
Given this issue, we needed to find a solution: a way to get our customers paid faster. Introducing Veem’s new Instant Deposit feature.
What is Instant Deposit?
Designed with our customers in mind, this feature is for US small businesses and contractors who want to receive payments faster (so, everyone). It allows payees to receive funds directly to their bank account in real-time.
Unlike larger companies that have a wider bandwidth, smaller contractors and businesses stress about their money from start to finish. Like tossing fuel into a train engine, small businesses waste their time and attention worrying about their cash flow to keep their tiny engines chugging along.
With Instant Deposit, SMBs no longer have to worry about being paid on time or deal with insecure and slow bankwires.
How does it work?
Instant Deposit gives our customers nearly instant access to their money. Once a payment is sent through the Veem network, the payee will receive the funds in their bank account within minutes.
If you’re a new or existing Veem user working in the US and receiving USD, all you have to do is add your card and set your funding rules.
This new feature includes personalized funding rules for the user so that payments under a set limit are sent to his/her card, and transactions over the limit are sent to their bank account. Nothing changes for the person paying.
Getting paid faster
We have listened to customers who want faster experiences with their cash flow. In an effort to constantly improve our user experiences we want this premium service to make payments faster and more efficient, taking the burden off the business owner.
To be able to do this, we are utilizing our partnerships to ensure Veem can process debit card payments through MasterCard, Visa, Star, Pulse, NYCE and Accel networks.
In a world, where everything is becoming instantaneous, shouldn’t your payments be too?
Fast and secure payments to over 100 countries. Get paid today.