Q&A

This page summarizes common questions about VA service scope, documentation, settlement, limits, and account allocation.

1. VA Account Availability & Documentation

1.1 T0 settlement

Question: Does T0 settlement mean funds in the VA are available immediately once payment is received?

Answer: Yes. T0 means funds can arrive in the account on the same day.

1.2 First payment transaction documents

Question: For the first payment transaction, is only one set of supporting documents required, and do later transactions need no additional documents?

Answer: For the first payment transaction, the customer must provide a full set of supporting documents to verify the legitimacy and purpose of the transaction. Subsequent transactions are subject to ongoing transaction monitoring. If any concerns are identified during monitoring, we will request additional supporting documents as needed.

1.3 Top-up supporting documents

Question: VA accounts can be used for Top-up, Goods Trade Collection Support B2B, and C2B. For Top-up transactions, are supporting documents also required? If yes, what documents are acceptable?

Answer: Yes, supporting documents are required for Top-up transactions because the source of funds must be verified. Customers must provide evidence of the origin of the Top-up funds, including but not limited to:

1. Proforma Invoice (PI) or a contract between the seller and the buyer.

2. Proof of payment, such as a transaction slip or bank transfer record, corresponding to the PI or contract.

The PI should meet these requirements:

• The seller shown on the PI must be a GPT-approved merchant.

• The document should clearly indicate the buyer's information.

• The document should specify the product name, product amount, and payment method.

These documents help validate the authenticity and legitimacy of the Top-up transaction.

2. Industry Limitations & VA Opening

2.1 General Trade Procurement vs. Goods Trade Collection Support

Question: The documentation says General Trade Procurement B2C and B2B are not supported. How does this differ from Goods Trade Collection Support B2B/C2B listed under VA usage?

Answer: General Trade Procurement B2C and B2B refer to offline transactions and high-volume wholesale transactions, such as machinery, chemicals, and textiles.

2.2 Additional materials after KYB approval

Question: The guideline says “VA Open Material – Generally no further documentation is required once KYB is approved. Special cases depend on the channel’s requirement.” Does this mean no additional documents will be requested later after KYB completion?

Answer: Yes. However, in special cases, the channel partner or bank may require supplementary materials. YeePay currently does not provide a supplementary materials list.

2.3 One VA per Merchant ID

Question: Is it correct that each merchant can only open one VA per Merchant ID?

Answer: No. A merchant can open VAs in multiple countries, and the number of VAs per country is determined by the channel. In Thailand, each merchant ID can only open one VA.

3. Settlement & Account Type

3.1 Retrieval Info and settlement

Question: For Retrieval Info, does settlement only occur after supporting documents are provided?

Answer: Yes.

3.2 Account type selection at setup

Question: When creating a VA, do we need to specify the account type, such as VA ACH or VA Fedwire, at setup time?

Answer: No. When applying for a VA, simply upload the required parameters such as country and currency.

4. Transaction Limits & Fees

4.1 Transaction limits

Question: The transaction limits are stated as ACH: USD 1M, and Fedwire: no limit, but documentation is required for transactions over USD 2M. Are these fixed rules, or can exceptions be requested for larger merchants?

Answer: These are fixed rules for the local clearing network.

4.2 Refund fees

Question: For VA USD accounts, there is a USD 50 refund fee. Are refunds in THB accounts free of charge?

Answer: No. A fee of 0.3% of the refund amount plus USD 3 will be charged.

5. Account Allocation & Top-up Requirements

5.1 Fedwire and ACH account limits

Question: Each merchant is limited to one Fedwire account and six ACH accounts. Is this a strict rule? Is the restriction based on the country where the VA is created, or does it apply to every country?

Answer: Yes, this is a strict rule. The restriction is based on the country where the VA is created.

Additional rules:

• E-commerce application platforms support ACH.

• International station, B2B, and selected independent sites support Fedwire.

• ACH accounts can only receive ACH funds.

• Fedwire accounts can receive ACH, Fedwire, and SWIFT funds.

5.2 Source of funds for Top-up transactions

Question: For Top-up transactions, the source of funds must be disclosed. What supporting documents can be used to prove the source of funds?

Answer: For same-name Top-up transactions on a USA VA, the following remitter details are required. These can be provided during VA setup and only need to be submitted once:

• Originator_Bank_SWIFT

• Originator_Bank_ABA

• Originator_Bank_Name

• Originator_Bank_Address_Line_1

• Originator_Bank_Address_Line_2

• Originator_Bank_Country_Code

• Originator_Account_ID

• Originator_Account_Name (optional)

6. USA VA Top-up Remitter Information

6.1 Required remitter details for same-name Top-up transactions

Question: For same-name Top-up transactions on a USA VA, what remitter details are required?

Answer: The following remitter details are required. You can provide them during VA setup, and they only need to be submitted once:

• Originator_Bank_SWIFT

• Originator_Bank_ABA

• Originator_Bank_Name

• Originator_Bank_Address_Line_1

• Originator_Bank_Address_Line_2

• Originator_Bank_Country_Code

• Originator_Account_ID

• Originator_Account_Name (optional)