NGN to CAD transfer

FAQs

Everything you need to know about Velox Payment

What identification documents can I use to verify my identity?

If you live in the U.K, you can verify your account using a UK government-issued identity card. Examples are:
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1. U.K residence permit
2. U.K driver’s license
3. British passport
4. Biometric Residence Permit (BRP)
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If you live in Canada, you can verify your account with any of the following Canadian government-issued identity cards. Examples are:
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1. Canadian driver’s license
2. Residence permit
3. Canadian passport
4. Provincial card

How do I sign up on the Velox App?

Download the Velox App on the Google Play store and App Store and provide details such as your name, address, email address and phone number. Please note that Velox only supports users in Canada currently.

What is the fee to transfer money with Velox?

Money transfer on Velox is completely free. There are no hidden charges or fee.

Is there a limit to how much I can send?

Transaction limits vary based on where you are sending money to and from. Click here (the link takes them to a contact us form) for more information on transaction limits. Note that you will need to complete your KYC verification, to access maximum daily transaction limits.

Which countries do you operate in?

We are launching in Canada very shortly, with other countries soon.

What type of account is my Velox Account?

Your account is a Virtual account that holds e-money. E-money is defined as an electric alternative to cash. On receipt of money into the velox ecosystem, you will be issued with an equivalent value of e-money to undertake operations within the velox ecosystem.

How do I keep my account secure?

We do everything we can to keep your money safe. We ask you do the same by keeping your security details safe. We encourage you to disguise or protect them should you write them down. You should not disclose your security details with anyone.

NGN to CAD Transfer Leg

What is the NGN-CAD transfer option?

This feature allows you to send money from Nigerian Naira (NGN) to Canadian Dollars (CAD) directly through our platform.

Who can use the NGN-CAD transfer service?

This service is available to users with verified accounts who need to transact from Nigeria to Canada.

What payout methods are available for NGN-CAD transfers?

Funds can be deposited into Canadian bank accounts. We may introduce additional payout options in the future.

How long does it take for NGN-CAD transfers to be completed?

Transactions are processed within minutes.

What exchange rate is used for NGN-CAD transfers?

We offer competitive, real-time exchange rates. You will see the applicable rate before confirming your transaction.

Are there any transfer limits for NGN-CAD transactions?

Your CAD payouts are limited to 3,000 CAD per day, in accordance with Interac rules. However, there is no limit for converting NGN to CAD within your Velox wallet.

Are there any fees for NGN-CAD transfers?

There are no fees attached to these transactions.

What happens if my NGN-CAD transfer is delayed?

While most transfers are completed on time if you experience a delay, please check the transaction status in the app. For further assistance, feel free to reach out to our customer support team at support@veloxpayments.com.

How can I contact customer support?

You can contact our customer support team via email at support@veloxpayments.com. We are available 24 hours a day. Alternatively, you can log into the app and submit a ticket to customer support.