How do I add beneficiaries?
On the Velox app, all you need to do is:
- Go to the ‘Settings’ page
- Click on “Beneficiary’
- Users can add a new beneficiary, manage existing beneficiaries, and delete beneficiary
- Click on the ‘Manage beneficiary’ option
- Click on the ‘+’ at the bottom right
- Type in the receiver’s account number
- Select the receiver’s bank
- The name will be automatically added, check to ensure this is the correct name of the recipient
- Click ‘continue’
Which countries can I send money to?
You can send money to Nigeria, and other countries coming soon.
How long does it take for the recipient to receive the money I sent?
It only takes a few moments for the recipient to receive the transaction.
Is there a limit to how much I can send?
Transaction limits are fixed at CAD 5,000 daily, $12,500 weekly, and $25,000 monthly. However, if you have a special request where your transaction needs to be increased, please contact support for advice. Please note that each request is treated on a case-to-case basis, and you would be required to complete KYC verification to access maximum daily transaction limits. Velox Payments Limited reserves the right to decline transactions that do not meet regulatory standards.
Which countries do you operate in?
We currently operate in Canada; other countries are coming soon.
P.S.: Please note that Velox only supports users in Canada currently.
