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      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. 

      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.

      Currency

      Cutoff Times (Eastern Time)

      Maximum Payment Size

      Delivery Timeframe

      CAD (Canadian Dollar)

      SWIFT (Priority): 11:45 AM ET

      Local: 11:00 AM ET

      SWIFT: No limit

      Local: CAD 200,000

      Same-day if processed before cutoff

      USD (US Dollar)

      SWIFT (Priority): 11:30 AM ET (3:45 PM for North America OKYC clients)

      Local: 3:45 PM ET

      SWIFT: No limit

      Local: $1,000,000 USD

      Same-day if processed before cutoff

      EUR (Euro)

      SWIFT (Priority): 9:30 AM ET

      Local (SEPA Instant): 1:00 PM ET

      Local (SEPA Credit Transfer): 9:00 AM ET

      SWIFT: No limit

      SEPA Instant: €100,000

      SEPA Credit Transfer: No limit

      Same-day for most payments; immediate delivery for SEPA Instant under €100,000

      MXN (Mexican Peso)

      SWIFT (Priority): 11:00 AM ET

      Local: 9:30 AM ET

      SWIFT: No limit

      Local: No limit

      0-2 days depending on payment type and cutoff times

      GBP (British Pound)

      SWIFT (Priority): 12:15 PM ET (for CurrencyCloud B.V. clients)

      12:00 PM ET (for CurrencyCloud Ltd. clients)

      SWIFT: No limit

      Local: £1,000,000

      Same-day if processed before cutoff

      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!