Joanna

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Articles

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  • Why can't I update a Payee's information?

    Velo believes in a beneficiary directed payments platform service. This means, after a Payee has onboarded, only they have access to edit their account information. Payees are the only ones (apart ...

  • Where do I find my Funding Reference ID?

    A Funding Reference ID is a Payor’s unique 8-character identifier. When sending wire instructions, include only the funding reference ID in the memo field for funds to automatically allocate to you...

  • Where do I find my Security Challenge Code?

    The Security Challenge Code is a secret code between you and your Payor used to verify your identity. Velo is unable to provide this code to you.  Payors using the Security Challenge Code onboardin...

  • Do I have to provide my Tax ID?

    Yes - The U.S. Internal Revenue Service requires companies to obtain a taxpayer ID (SSN, EIN, or ITIN) for individuals that it pays. Payees are required to provide a valid Tax ID in order to regist...

  • How do I set up webhooks?

    Webhooks are call-backs to deliver data via APIs. It allows Payors to be notified when a status change occurs to their payments (i.e. payment was sent, confirmed, returned, etc.). Only Payor Master...

  • How do I export history of payments submitted?

    Payors have the ability to pull their Velo Transaction Report from the Payor Portal at any time. To pull your history, Master Admin and Admin users may login and follow the steps below. Click Repo...

  • How do I delete a Payment Method?

    You may edit or add a new Payment Method at any time. If you no longer use a Payment Method to receive payments, you may also delete it. To do this, login to your Payee Portal and follow the steps ...

  • How do I disable a Payee?

    Only the Velo backoffice team can disable a Payee’s Velo account. When a Payee’s account is disabled, it removes the Payee’s ability to use the Payee Portal, receive payments, receive notifications...

  • I accidentally declined an invitation from a company I work for. What should I do?

    If you mistakenly decline an invitation from a Payor, don't worry. You can login to your account to correct your invitation status. To update your invitation status follow the steps below. Login t...

  • What do the payment statuses mean?

    Payment Status Definitions Submitted: Your Payor has created a payment instruction to be sent to you Awaiting Confirmation: Your payment has been sent. The payment will remain in this status until...