What is a Same Name Account?
A Same Name Account refers to a bank account or payment account used for a transaction where the account holder information matches the information registered on your VelaFi account.
- If the payment channel requires a Same Name Account, you must use an account whose holder information matches your VelaFi account information.
- Using an account whose holder information does not match your VelaFi account information is considered a Non-Same Name Account transaction. Such transactions may not be completed or may require additional review.
Are Non-Same Name Account transactions supported?
The availability of Non-Same Name Account transactions depends on the transaction type and payment channel you select.
Some payment channels allow transactions using accounts that do not match the VelaFi account holder information, while others strictly require a Same Name Account. Requirements may vary depending on the country, currency, transaction type and payment channel.
To confirm whether a specific payment channel supports Non-Same Name Account transactions, please provide the following information:
- Country / Region
- Currency
- Transaction Type
- Payment Channel
Based on the information provided, we can confirm the applicable requirements for the selected payment channel.
Note: If the payment channel requires a Same Name Account, make sure that the bank or payment account used for the transaction matches the information registered on your VelaFi account. Using an account that does not meet the requirements may result in a failed or delayed transaction, or require additional review.