Keep Banking: Payment Guide

At Keep, we understand how crucial it is to make payments quickly and confidently. Whether you're paying vendors, contractors, or receiving funds from clients worldwide, our platform is designed to handle your transactions with efficiency and precision. 

This guide covers how payments are processed, what might cause delays, and how to use the Priority payment service effectively.

In This Article

1. How to Pay Someone Using Keep
2. Types of Payments Offered
3. How Payments Are Processed
4. Currency-Specific Payment Details
5. Understanding Payment Delays
6. Frequently Asked Questions 

Our Supported currencies are:

1. CAD 
2. USD
3. EUR
4. MXN
5. GBP

How to Pay Someone Using Keep

Making a payment through Keep’s Banking is straightforward. Here’s how you can do it:

1. Log in and Go to Keep’s Banking Section
2. Click on “Move Money” and Select “Pay Someone”
3. Choose the recipient you want to pay, and add their Information
   Input the recipient's name, account details, and other necessary information.
4. Select Payment Type
   • Standard Payment: Free and takes up to 7 business days.
   • Priority Payment: Costs $15 CAD and offers same-day or next-day delivery during business hours.
     Note: Payments made after normal working hours will be initiated the next business day.
5. Enter the Amount and Review, confirm the amount and details before clicking Send.

Types of Payments Offered

We provide two types of payments to support your business needs:

1. Priority Payments: Ideal for time-sensitive transfers with same-day or next-day delivery (during business hours) for a small fee.
2. Standard Payments: Best for routine transfers, free of charge, but with a slightly longer processing time.

Important: Any payments made after normal working hours will be initiated the following business day. In some cases depending on the currency and destination, payments might experience a brief delay due to compliance checks or other factors, but we strive to process them as quickly as possible. 

For CAD Payments

CAD payments rely on specific networks, and not all recipients’ banking details support both Priority payments and Standard payments. To make the process easier, Keep shows only the payment options compatible with your recipient:

• If the recipient’s contact doesn’t support Priority payments, their details will clearly show that only Standard payments are accepted.

• If the recipient supports only Standard payments, the Priority payment option will not appear during the selection process. 

How Payments Are Processed

Most payments are initiated within the same or next business day when submitted before cutoff times. We work closely with CurrencyCloud to minimize delays and keep your funds moving quickly. If any issues arise, our team is here to resolve them promptly.

Currency-Specific Payment Details

Keep uses CurrencyCloud to process payments across different currencies and countries. Each currency has its own set of rules, cutoff times, and maximum payment limits, which can impact when your funds are received. Knowing this information helps you plan your payments and set accurate expectations for when they will be completed.

The table below provides details on payment processing for CAD, USD, EUR, MXN, and GBP, including cutoff times in Eastern Time (ET), maximum payment sizes, and estimated delivery timeframes.

For more information on other currencies, refer to the CurrencyCloud Documentation or reach out to us at support@trykeep.com.

Understanding Payment Delays

Several factors can delay payments, including:

1. Compliance Reviews: Payments flagged for manual review may take longer to process.
2. Cutoff Times: Payments made after cutoff times will be processed the next business day.
3. Banking Hours: Payments initiated outside of business hours may be delayed until the next working day.
4. External Factors: Holidays and weekends can also cause delays in receiving funds.

Frequently Asked Questions

1. How can I ensure my payment is processed quickly?
   Make payments before cutoff times and ensure all recipient details are correct.
2. Why do some payments undergo compliance checks?
   Compliance checks are part of our security measures to ensure that transactions meet regulatory standards and keep your funds safe.
3. What happens if I submit a payment after business hours?
   Payments made after business hours are generally processed the next business day. However, we strive to initiate them as quickly as possible.

Need more help? 

For additional help, visit our support page or contact us at support@trykeep.com. We're here to assist you every step of the way!