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Finmo wallets difference

How does a customer wallet differ from the master wallet?

A customer wallet is created by you for your individual customers after KYC approval. It facilitates pay-ins, payouts, and transactions at the customer level.

In contrast, a master wallet belongs to you and serves as a central repository for all financial activities. It aggregates funds across multiple customer wallets and handles organization-wide transactions.

Attribute

Customer Wallet

Master Wallet

Purpose

Manages individual transactions for customers.

Centralized fund management for the organization.

Association

Linked to specific customer profiles.

Tied to your organization's operations.

Currencies

Holds customer-specific currencies or multiple currencies.

Handles multiple currencies for overall operations.

Usage

Used for customer-specific payins, payouts, and transactions.

Aggregates payin collections, manages payouts, and handles fees.

Creation

Created manually after creating customer and KYC approval

Automatically created after KYB
approval