FAQ

All your questions answered in one place

Frequently Asked Questions

Haven’t found what you are looking for?

How do I transfer funds?

Our online system is simple and easy to use and will guide you through the process. However our Customer Support Team is happy to assist you further.

How long does the process take?

Typically, funds will clear into the recipient bank account the following business day. We aim to get the funds there as soon as possible. If you make your transfer on a weekend, you will need to wait until the following business day for the funds to transfer. You are, however, able to lock in your FX rate at the time you use our service.

How do I verify my identity?

Please visit https://kyc.vip-payments.com/#1 or https://kyc.vip-payments.com/business and follow the steps as instructed. Please note that you will be required to provide a photo of your ID document, a selfie photo, selfie video and Proof of Address document.

Can I track my money throughout the process?

Of course. You can log in to your profile and see how the transaction is progressing.

What if the funds haven’t arrived?

Don’t panic. Our customer service team is available and will work with you to solve the issue. Sometimes people may accidentally provide incorrect details for the recipient which can cause a slight delay in getting the money there. We track your funds at each step of the process allowing us to help you if there is an issue.

Do I need to provide any identification documents?

Yes, the more information you can provide us on yourself, the better. All documents can be simply uploaded to our website and we can verify within a short time frame to allow you to transfer your funds.

Additional information may be requested when VIP PAYMENTS consider it necessary.

How is my money protected?

VIP holds its customers’ funds in segregated accounts opened with VIP PAYMENTS’ banking partners. This ‘safeguarding’ of customer funds protects your funds in the unlikely event that VIP becomes insolvent. If this was to happen, an insolvency practitioner would pay funds back to eligible customers from the segregated accounts after the deduction of their own administrative costs. You should also be aware that safeguarded customer funds are not covered by the Financial Services Compensation Scheme (FSCS). For more information on how you’re protected should VIP PAYMENTS fails, see https://www.fca.org.uk/consumers/using-payment-service-providers.’