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 |