To make payments, funds must be available in an amount that is greater than or equal to the payment(s) being instructed. The terms fund and funding refers to the transfer of funds from the Payor to the VeloPay Platform. There are two options available to fund your account: Direct Deposit and Wire.
Direct Deposit: Funding by direct deposit offers the ability to top-up your account on a regular basis by transferring funds as necessary or by automating recurring payments to the VeloPay Platform. Fundings initiated via direct deposit use ACH (Automated Clearing House) and take up to three business days to be received by VeloPay.
For more information on funding by direct deposit, click here.
Wire: Funding by wire is initiated directly from your financial institution. Wire funding and can be received and applied to your account on the same day.
For more information on funding by wire, click here.