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Veem

By Veem
4.09 out of 5 stars
The all-in-one accounts payable and accounts receivable solution to simplify your tech stack and grow your business.

Overview

Veem helps small businesses save time and optimize cash flow by simplifying the way they send and receive payments domestically and internationally. Trusted by more than 500,000 users in over 100 countries, Veem uncomplicates the end-to-end AP/AR process with seamless integrations to leading accounting software, real-time tracking on payments and cost-effective, flexible payment options. Now businesses have the power to pay how they prefer and eliminate friction with customers to get paid faster.

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Veem + Xero

Simple way to pay and get paid domestically or internationally with low fees and truly competitive exchange rates.

Veem’s robust two-way integration uses Xero as the source of truth to eliminate double data entry, reduce human error, and provide automatic reconciliation.

Trusted and secure with the highest security standards with multi-factor authentication, SOC2 compliant, PCI- DSS compliant.

Reviews & ratings

4.1 out of 5 stars
25 Reviews
5 star(70%)
4 star(4%)
3 star(4%)
2 star(9%)
1 star(13%)
BS
Bryan Struckmann
Posted
1 out of 5 stars

Poor Support

We have used Veem for two years, however support is now too slow. We had issues with payments from our clients customers all of sudden coming into the firms bank account. Took over two days to get an answer. The answer is unacceptable, they use the email address in the Xero contacts to determine where the funds go. This is absurd as they get the payee and payor information on the Xero invoice. In addition, their claim to fame was cheaper international wires. We had a customer of a client located in New Zeeland and we could not get the wires to work. I have moved all of my clients from this platform
SM
Sabrina Mirza
Posted
1 out of 5 stars

Really disappointed

At first this started out to be a great option and was cheaper than banks, but now not only does it fail to hold up that initial promise, it has created crazy steps for our clients to pay us! This is is ridiculous. Clients' should not have to go through loop-holes just to process a payment. We have had many clients cancel the procedure because it is just too much of a headache and we totally agree with them. Companies do not have time for this - really disappointed on how this turned out .. we will be looking for other options and phasing Veem out. Just too bad ...

Response from Veem

Hi Sabrina, We are so sorry to hear that your experience with Veem has not been up to standard. We would like to have a conversation regarding the challenges you and your clients are facing, I’m sure we will be able to find a solution. Could you please drop us a line at customerservice@veem.com and we will respond right away. Thank you for taking the time to share your feedback.
YA
Yulia Antonova
Posted
2 out of 5 stars

Not cheaper anymore

It was cheaper than banks, but not anymore. When I started with Veem it was $20 per international wire transfer, and my bank charged $40. Then within a short time Veem has risen their price to $30 and then to $40 per transfer. My nbank still charge $40. Now it doesn't make any sense to use them.

Response from Veem

Hi Yulia, Thank you for being a long-time Veem customer, we truly value your association. We apologize for the confusion on our wire transfer prices. While we still charge $29 for all transactions under $10k, only transactions over $10k are charged $40. Unlike banks our Fx rates are much cheaper and our process is transparent, where both you and the recipient are updated on every step through a payment tracker. We would love to speak with you to ensure you are using all the product features we offer and your business is set up for success. Please reach out to customerservice@veem.com and we’ll get right back to you. Thank you for taking the time to share your feedback.

Additional info

App details

By Veem
Added in 2017
Although Xero reviews each app in the Xero App Store, we can’t give any guarantees. It’s up to you to assess the performance, quality and suitability of any app before going ahead.