Open a free Virtual Bank Account today
Get your business up and running with Veem’s local bank accounts, available globally–no monthly fees.
Rethink how you access banking
Avoid hours of paperwork and in-person approvals. With Veem, you can get a local bank account in one of four major currencies, right from laptop or phone.
Accounts can be issued in Canada, Europe, the U.S. and UK.
Get a local receiving account
Collect payments like a local with your very own Virtual Bank Account—no local entity required.
Quick & easy setup
Apply in just minutes. No in-person branch visits or paperwork required. Fully digital setup.
Branded to your business
Your account is issued under your business name, making it easy to receive payments from marketplaces like Amazon, Upwork, Fiver, etc.
Local bank details
Get dedicated account information like wire and routing numbers–everything you need to receive domestic or international transfers.
Transact confidently with FDIC protection
Enjoy worry-free transactions with your Virtual Bank Account, backed by FDIC insurance*, protecting all your funds up to $250,000 USD, regardless of currency.
*Applicable for Citi-issued Virtual Bank Accounts
What you can do with your account
Your Virtual Bank Account gives you the functionality of a traditional checking account without requiring a local entity to set one up.
Hold and spend
Use your account to send funds or hold them until you’re ready to convert.
Convert currencies
Open multiple virtual accounts in different currencies and exchange currencies at industry leading FX rates.
Withdraw at anytime
Send funds from your Virtual Account to your debit card, Wallet and Virtual Card with no minimum balance required.
Perfect for marketplace sellers
Sell anywhere, get paid locally. Your Virtual Account provides local receiving details for platforms like Amazon, Etsy, and more.
Frequently Asked Questions
Check out our Veem Bank Account resources for answers to frequently asked questions, troubleshooting tips and more.
To apply for a Virtual Bank Account, you’ll need a Veem account. Create your free Veem account, then navigate to the Virtual Bank Account tab in the main navigation to complete the Virtual Account form. Learn more
Applications are typically reviewed within 1–2 business days. Once approved, you’ll receive a confirmation from Veem, and your account will be available in the Veem dashboard the next time you log in.
Open your Virtual Bank Account at no cost. Standard Veem transaction fees only apply when funds are transferred or converted.
Yes. Veem partners with regulated financial institutions to issue and safeguard Virtual Bank Accounts. Funds are held in reputable, licensed partner banks, ensuring security and compliance with financial regulations.
Incoming wire and ACH transfers typically arrive within 1–3 business days, depending on the sender’s bank and location. You can track the status of each transfer directly in your Veem dashboard, and you’ll be notified as soon as funds are deposited into your Virtual Bank Account.
Yes. You can transfer funds from your Virtual Bank Account to your local bank or Veem Wallet anytime. Transfers are processed securely, with standard Veem transaction timelines and fees.
Safeguarding your funds
Veem works with regulated financial partners, including Citi and Currencycloud, to provide your Virtual Bank Account. These partners follow strict safeguarding and protection requirements designed to help keep your funds secure.
Concerns or questions?
If you have a concern or want to submit a complaint about your Virtual Bank Account, we are here to help resolve it quickly and fairly.
Disclosures
Payment and e-money services are provided by The Currency Cloud Limited. Registered in England No. 06323311. Registered Office: 1 Sheldon Square, London, W2 6TT, United Kingdom. The Currency Cloud Limited is authorized by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money (FRN: 900199).
For clients based in the European Economic Area, the issuance of e-money and the provision of related payment services for [UFXB NAME] are provided by CurrencyCloud B.V. CurrencyCloud B.V. is registered with the Dutch Chamber of Commerce in the Netherlands under number 72186178. Registered office Mr. Treublaan 7, 1097 DP, Amsterdam, Netherlands. CurrencyCloud B.V. is licensed and regulated by De Nederlandsche Bank as an Electronic Money Institution (Relation Number: R142701).
Payment services in the United States are provided by Visa Global Services Inc. (VGSI), a licensed money transmitter (NMLS ID 181032) in the states listed here. VGSI is licensed as a money transmitter by the New York Department of Financial Services. Mailing address: 900 Metro Center Blvd, Mailstop 1Z, Foster City, CA 94404. VGSI is also a registered Money Services Business (“MSB”) with FinCEN and a registered Foreign MSB with FINTRAC. For live customer support contact VGSI at (888) 733-0041.
For more information, please visit Currencycloud’s terms and conditions.
All testimonials, reviews, opinions or case studies presented on our website may not be indicative of all customers. Results may vary and customers agree to proceed at their own risk.
Safeguarding your funds
When funds are credited to your account, electronic money (e-money) is issued in exchange by an authorised Electronic Money Institution with whom we partner, namely Currencycloud. In accordance with applicable regulatory requirements, Currencycloud safeguards your funds. This means that the monetary value behind your account balance is held at a reputable financial institution and is protected in the event of insolvency of either Currencycloud or ourselves. Currencycloud ceases safeguarding your funds once the money has been successfully transferred from your account to the intended beneficiary’s account.