How to Save Money When Paying Your Factory - Goodbye Bank Wire Fees!
We just started using Veem, and I think it is safe to say, my search is over. Aside from being nationally recognized and featured by industry giants like Forbes, The New York Times, Tech Crunch, and Quicken, Veem is the only company I have found that specializes in sending money to China. Using them requires both the sender and receiver to set up an account, which would be an issue, except they have a team in China to field factory questions. The factories we’ve worked with who have signed up have all been surprisingly happy to take the extra steps to create their account. Once both parties are signed up, sending money is very simple.
Veem is another company that does not charge a fee to transfer funds, rather, they make money off the exchange rate. The biggest difference between them and TransferWise and OFX: they are not the least bit greedy. Their exchange rates are surprisingly close to the market rate, which is incredible, and their average turnaround time has been about one business day.
|Wells Fargo||Bank of America||OFX||TransferWise||Veem|
|Additional wire fees not included||Additional wire fees not included|
After some of my clients and my business had the opportunity to test Veem, I took some additional time to chat with the team at Veem to learn more. After a dozen emails and a couple of phone calls, I was convinced they were going to be the service we would recommend when clients are looking to save money and transfer funds overseas.
The bottom line is this: We highly recommend signing up for Veem to help you save money when paying your factories. We will take care of signing up your factory and the team over at Veem is always available if you have questions.