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Forbes > Goldman Sachs & Veem partner. Learn more

What is VeemBack Rewards?

A revolutionary rewards program where for every $100 you send in International payments that get exchanged to the local currency, you earn 5 Points. There is NO LIMIT on Points you can earn. Send $1,000,000 get 50,000 Points!

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How Much Are Points Worth?

Best of all, the money you make from VeemBack is debited into your bank account. That means, unlike most points programs, you’re free to spend your money on whatever you like.

How Can We Do This?

Because we do not have the overhead of banks we can vastly undercut their prices, while offering a better service. We built our system on the technology of today, not the 1970’s which is what the Banks use with the Swift network.

No Fees, Great Rates

*Points expire after 12 months on Account Non-Activity and must be redeemed before then. Activity is any international transfer of money. Points only earned on transactions executed at an exchange rate over 0.6%.

 

VeemBack Program Terms and Conditions

Effective Date: August 31, 2018.

PLEASE READ THESE TERMS AND CONDITIONS CAREFULLY. BY ACCESSING OR PARTICIPATING IN THE VEEM BACK PROGRAM, YOU AGREE TO BE BOUND BY THESE TERMS AND CONDITIONS AND ALL TERMS INCORPORATED BY REFERENCE AS DESCRIBED BELOW. IF YOU DO NOT AGREE TO THESE TERMS AND CONDITIONS, YOU MAY NOT ACCESS OR PARTICIPATE IN THE VEEM BACK PROGRAM.

These Veem Back Program Terms and Conditions (“Rewards Terms) apply to your access to and participation in the Veem Back Program (“Rewards Program or “Veem Rewards”), which is operated by Veem Inc. or its affiliates (collectively, “Veem”, “our, “us or “we). These Rewards Terms do not alter in any way the terms or conditions of any other agreement you may have with Veem for other products and services. Please note that your access to and participation in the Rewards Program is also governed by the terms, conditions, limitations and requirements linked in these Rewards Terms, all of which (as may be changed over time) are incorporated into these Rewards Terms. In addition, these Rewards Terms complement and incorporate by reference the Veem Terms of Use. In the event of any conflict between the Veem Terms of Use and these Rewards Terms, the Veem Terms of Use will control.

Veem reserves the right to change, modify and/or eliminate the Rewards Program and/or all or any portion of these Rewards Terms or any policy pertaining to the Rewards Program at any time and in our sole discretion, including our right to discontinue or change the Tiers (defined below) or benefits or change the expiration date of Rewards Points (defined below) received under the Rewards Program, merge the Rewards Program with another rewards program, or to adjust how Rewards Points are earned, calculated or redeemed. It is possible that you may be unable to receive enough Rewards Points to redeem a Rewards Code if we discontinue the Rewards Program or merge the Rewards Program into another rewards program. If we make changes, we will post the amended Rewards Terms to http://www.Veem.com/rewards-terms-of-use and update the “Effective Date” above.  We may also attempt to notify you in other ways. Unless we say otherwise, the amended Rewards Terms will be effective immediately and your continued participation in the Rewards Program after the amended terms are posted will confirm your acceptance of the changes. If you do not agree to the amended Rewards Terms, you must stop participating in the Rewards Program.

1. Rewards Program Eligibility

You must be a business to participate in the Rewards Program, and if you are doing business as a natural person, you must be at least 18 years of age. 

2. Privacy

Please review our Privacy Policy, which also governs your visit to the Veem.com website, to understand our practices.

3. Rewards Program Description

The Rewards Program is a free customer loyalty program that allows participants in the United States to earn “Rewards Points” with qualifying use of Veem payment services.  Participants may also earn Rewards Points by participating in Promotional Activities (defined in Section 5) that may be offered through the Rewards Program from time to time. Participants in the Rewards Program may redeem accumulated Rewards Points for “Rewards Codes” that can be used toward purchasing items on Veem.com and may also use the Rewards Points for other purposes as may be provided by Veem from time to time. These Rewards Terms provide a general overview of the Rewards Program. For more information about earning, calculating or redeeming Rewards Points, Tiers, Promotional Activities and other details, please visit our Rewards Program page.

4. Joining the Rewards Program

There are no membership fees associated with the Rewards Program. Below are some of the ways that you can enroll in the Rewards Program. For more information about enrolling in the Rewards Program, please visit our Rewards Program page.

Email Veem @ [email protected]

Call the Veem Client Services Team at 1-877-279-2629;

Certain select customers will be automatically enrolled in the Rewards Program. If you are automatically enrolled, you still must agree to these Rewards Terms in order to complete your enrollment and participate in the Rewards Program, including redeeming Rewards Points for Rewards Codes or receiving any other Rewards Program benefits, and you will be prompted to do so via email. If you do not agree to these Rewards Terms, you cannot participate in the Rewards Program. Auto-enrolled customers may opt-out of the Rewards Program at any time by contacting the Veem Client Service Team via email or by calling 1-877-279-2629.

Once you are enrolled in the Rewards Program and have accepted the Rewards Terms, you can view and manage your Rewards Program account (“Rewards Program Account) by logging into your Veem Account. You may only have one Rewards Program Account, and it is nontransferable.  You are responsible for anyone else who uses your Rewards Program Account.

5. Earning Rewards Points

The benefits that are available to you through the Rewards Program are based on the number of Rewards Points that you earn by processing qualifying transactions using Veem, or otherwise participating in Veem Back Program Promotional Activities.  For information about how to earn Rewards Points, please visit the VeemBack page.

Payment Activity.  To receive Rewards Points for a payment processing activity, your transactions must be placed in the Veem Account that is associated with your Rewards Program Account. You will earn Rewards Points based on the total dollar amount of foreign exchange transactions you process. For more details about how to earn Rewards Points by processing qualifying transactions, please visit our Rewards Program page.

Promotional Activities and Events. From time to time, we, or others acting with our permission, may offer you opportunities to earn bonus Rewards Points, such as inviting you to engage with Veem in special promotional events or activities in exchange for Rewards Points (“Promotional Activities”).

The number of Rewards Points that you can earn each calendar year by participating in Promotional Activities may be capped. For more information about the annual cap, please visit our Rewards Program page.

6. Rewards Program Tiers

The Rewards Program may offer different benefits based on different Rewards Point levels (“Tiers). Your Tier status may be determined by the number of Rewards Points that you accumulate in your Rewards Program Account annually, beginning each September 1st and ending the following August 31st (“Rewards Year). Tiers are based on total Rewards Points earned during the applicable Rewards Year, not total Rewards Points remaining after redemption. In addition, once you reach a specific Tier, your Tier status lasts from the date you reach a specific Tier until the last day of the next full Rewards Year, even if you redeem your Rewards Points. For example, if you reach an enhanced Tier status in December of 2018, you would keep your status until 11:59PM PT on August 31, 2019.

Specific Tier benefits are only available to you while you are in the applicable Tier and cannot be applied retroactively. In the event that you move down in Tier levels, you will lose the benefits from the higher Tier.

For information about Tiers and Tier benefit details, please visit the Rewards Program page.

7. Redemption of Rewards Points

You can redeem Rewards Points posted to your Rewards Program Account when you have accumulated at least 1,000 Rewards Points.  You can redeem Rewards Points for a cash credit to the bank account associated with your Veem account, or alternatively, for Rewards Codes identified on the Rewards Program page, if applicable.  For more details on redeeming Rewards Points, please visit our Rewards Program page. Rewards redemptions are only issued in whole $1 increments.  We will use commercially reasonable efforts to send your cash credit or Rewards Codes within three business days of your request.

Rewards Points accumulated under the Rewards Program and Rewards Codes issued when Rewards Points are redeemed are promotional in nature and have no cash value. Your Rewards Points and your Rewards Program Account are personal to you and may not be sold, transferred (by operation of law or otherwise) or assigned to or shared with others, or used by you for any commercial purpose. You are responsible for any federal, state or local taxes applicable to your participation in the Rewards Program.

8. EXPIRATION OF REWARDS POINTS

Points. REWARDS POINTS WILL EXPIRE ONE YEAR FROM THE DATE THEY ARE EARNED.  EXPIRED REWARDS POINTS ARE deducted from THE REWARDS POINT balance IN YOUR REWARDS PROGRAM ACCOUNT.

REWARDS Codes. UNLESS STATED OTHERWISE, REWARDS Codes expire NINETY (90) DAYS from the date THEY ARE SENT TO YOU. REWARDS CODES ARE subject to the additional terms AND RESTRICTIONS contained on the Rewards code.

9. Impact of Merchandise Returns on Your Rewards Points and Rewards Codes

If you void a transaction or the funds processed are returned, Veem will deduct the Rewards Points that you were awarded for that activity from your Rewards Program Account. If you have already redeemed those Rewards Points, this could potentially result in a negative Rewards Point balance in your Rewards Program Account.

10. Miscellaneous

Without notice to you, Veem reserves the right to suspend or terminate your Rewards Program Account and/or your participation in the Rewards Program (in whole or in part), if Veem determines in its sole discretion that you have violated these Rewards Terms, you have more than one Rewards Program Account, or that the use of your Rewards Program Account or your participation in the Rewards Program is unauthorized, abusive, deceptive, fraudulent or otherwise unlawful. Veem may, in its sole discretion, suspend, cancel or combine Rewards Program Accounts that appear to be duplicative. In the event that your participation in the Rewards Program is terminated, you will not be able to redeem any accumulated Rewards Points

Without notice to you, Veem also reserves the right to “unregister” a Rewards Program Account that is inactive and cause that Rewards Program Account to be ineligible for the Rewards Program. An inactive Rewards Program Account is defined as a Rewards Program Account that has not earned Rewards Points for one year. In the event that your Rewards Program Account is unregistered due to inactivity, then you will no longer be eligible for Rewards Program benefits, including accumulating Rewards Points or converting your Rewards Points into Rewards Codes. You may reactivate your Rewards Program Account by logging into your Veem Account or making a purchase using your Veem Account that is associated with your Rewards Program Account, but any Rewards Points earned prior to the Rewards Program Account being deemed inactive will be voided.

If you have any questions or if you are dissatisfied with the Rewards Program in any way, please contact our Veem Client Services Team via email or by calling 1-877-279-2629.

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