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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.

AttributeCustomer WalletMaster Wallet
PurposeManages individual transactions for customers.Centralized fund management for the organization.
AssociationLinked to specific customer profiles.Tied to your organization's operations.
CurrenciesHolds customer-specific currencies or multiple currencies.Handles multiple currencies for overall operations.
UsageUsed for customer-specific payins, payouts, and transactions.Aggregates payin collections, manages payouts, and handles fees.
CreationCreated manually after creating customer and KYC approvalAutomatically created after KYB
approval