To make payments, funds must be available in an amount greater than or equal to the payment(s) being instructed. The terms fund and funding refer to the transfer of funds from the Payor’s funding account to the Payor’s account balance with Velo. There are two options available to fund your account: Direct Deposit or Wire.
Direct Deposit offers the ability to top-up your account regularly by transferring funds as necessary or by automating recurring payments to the Payor’s Velo account balance. Fundings initiated via direct deposit will take 3-5 business days to be received by Velo, depending on your bank and processing windows.
For more information on funding by direct deposit, click here.
Wire funding is initiated directly from your financial institution. Funding can be received and applied to your account the next business day.
For more information on funding by wire, click here.