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What is Veem?
Businesses are spending and accepting cash payments more than ever. If this sounds like your business, you'll need a powerful system that offers flexibility and security. With the multitude of payment networks available, it can be difficult to find the one that works best, especially if you are a global business.
Fortunately, global businesses have a powerful option: Veem.
Veem is a payment network that aims to facilitate international money transfers for businesses. Since their inception in 2014, they have changed the way businesses get paid around the world.
Is Veem worth it? We tried Veem for ourselves. Here is our full review.
Who should use Veem?
Simply put, any business or sole proprietor will benefit from Veem, especially if you're sending and receiving international payments. For example, if you work with global suppliers and attract a global customer base, you will benefit greatly from Veem.
When registering with Veem, they offer solutions for businesses and individual entrepreneurs. I'm just a freelance writer and most of these B2B platforms offer a system that's way too advanced for my personal needs.
Features
Veem is an innovative global payment platform, designed to simplify the payment process for small and medium-sized businesses. Here is a detailed overview of its main features:
1. International payments
Veem facilitates financial transactions globally, providing a smooth and efficient user experience.
- Cross-border transfers : Allows you to send and receive payments in more than 110 countries in various currencies.
- Competitive exchange rates : Offers advantageous exchange rates, thus reducing costs for users.
This feature is a great asset for businesses looking to expand in the international market, thanks to its ease of use and competitive rates.
2. Invoice Management
Veem offers an integrated solution for managing invoices, simplifying the billing process for businesses.
- Creating and sending invoices : Allows you to easily generate professional invoices and send them directly via the platform.
- Invoice tracking : Offers the possibility of monitoring the status of invoices in real time, which improves cash flow management.
Ideal for businesses of all sizes, this feature helps streamline the billing process and improve financial management.
3. Security and Compliance
Security is a top priority at Veem, with multiple layers of protection to ensure secure transactions.
- Regulatory compliance : Veem meets international financial compliance and regulatory standards.
- Advanced security protocols : Uses advanced encryption technologies to protect user data and transactions.
Veem's robust security makes it a reliable solution for businesses concerned about protecting their financial transactions.
4. Integration with Other Tools
Veem integrates seamlessly with various accounting and business management software, improving operational efficiency.
- Compatibility with accounting software : Easily connects to tools like QuickBooks, Xero, and NetSuite.
- Workflow automation : Allows accounting and financial processes to be automated, saving time and effort.
This feature enhances Veem's versatility, making it compatible with other critical business systems.
5. Countries supported by Veem
We've established that Veem is for businesses that need international transfers. But can you use Veem in your country? Veem supports over 60 countries. So you can probably use Veem in your country as well as in different currencies.
Here are some of the countries Veem supports:
- u.s.
- uk
- canada
- australia
- Austria
- belgium
- bulgaria
- cyprus
- croatia
- denmark
- cz
- finland
- estonia
- germany
- france
- hungary
- greece
- ireland
- iceland
- latvia
- italy
- luxemburg
- lithuania
- mexico
- malta
- netherlands
- Monaco
- poland
- norway
- romania
- portugal
- slovenia
- Slovakia
- sweden
- spain
- switzerland
- And more
Click here for a complete list of countries supported by Veem. Remember that not every country on this list can both send and receive payments.
These features make Veem a comprehensive and reliable solution for international payment management, billing, transaction security, system integration, and effective customer support.
Customer Support
Veem offers exceptional customer support, ensuring a seamless user experience.
- Real-time support : 24/7 customer support to quickly resolve issues and answer questions.
- Educational resources : Provides guides and tutorials to help users navigate the platform.
Conclusion : Veem customer support is a key part of its value proposition, ensuring that users receive the help they need to optimize their use of the platform.
Pricing
Do you get all of these benefits for free? Not exactly.
So how does Veem pricing work?
First of all, creating an account is free. Plus, most payments are completely free to process. You'll have to pay exchange fees when sending payments in another currency, but they're lower than the competition and most banks.
There's only one fee that can be avoided for many businesses: you'll have to pay a $20 fee if the recipient opts for a transfer outside of the U.S. in U.S. dollars.
Let's take this scenario as an example: let's say you own an American company and you're sending money to a stakeholder in Europe. If the recipient chooses to receive payment in euros, you avoid fees. But if he prefers to be paid in US dollars, you have to pay 20 US dollars.
FAQs
How do I accept a payment?
Veem will notify you by email when a payment has been received. From there, you can approve the payment in the email.
How do I withdraw money from Veem?
If you have money in your Veem wallet, you can withdraw it to your bank account.
How long do Veem payments take?
Some reviews we've read complain that the largest payments take up to a week. But you should get your payment in one to three days.
Final Verdict
If international money transfers are an important factor in your business, you'll be happy to discover that Veem offers a technological solution for making money transfers without waiting and without spending a lot of money on fees. Veem is extremely affordable, registering is quick, and you'll get your money back in no time.
Veem has a few drawbacks where its competitors can shine. It does not support personal transactions and does not currently have an application. If you are ready to work around these drawbacks, Veem is a great solution for you.
