Where are fees deducted?
By default, all fees including monthly subscriptions, card issuance, and transaction costs are deducted from your Main Account
Identifying your Main Account: In your dashboard, your Main Account is easily identified by a star icon
Flexibility: While you can have multiple sub-accounts for different business needs, wamo only pulls fees from the specific account designated as "Main"
What are "Outstanding Fees"?
"Outstanding fees" simply refers to the costs associated with using wamo services that haven't been settled yet. Depending on your plan, these may include:
Monthly Subscription Fees: The fixed cost of your chosen plan (Start, Grow, or Scale)
Transaction Fees: Costs for local or international incoming and outgoing transfers
Card & ATM Fees: Withdrawal fees or costs for ordering additional physical/virtual cards
Billing Cycles & Dates
Your subscription fee is charged on the monthly anniversary of the date your account was opened.
Example: If you opened your account on February 4th, you will be billed on the 4th of every month.
Note: If you opened your account on the 31st and the following month is shorter (e.g., February), you will be billed on the last day of that month.
Managing Your Main Account
You can change which sub-account acts as your "Main Account" at any time. This is useful if you prefer to keep your fee payments separate from your primary operational funds.
How to switch your Main Account:
From the Home screen, tap on Outstanding Fees.
View your current Main Account balance.
Tap Switch accounts and select the sub-account you want to use for future fee deductions.
Funding Your Account to Cover Fees
Fees can only be deducted from your wamo balance. To ensure your account remains active and in good standing, you can add funds via:
Bank Transfer (SEPA/SWIFT)
Credit or Debit Card Top-up
Apple Pay
What happens if I miss a fee payment?
If your Main Account balance is insufficient to cover a fee, we will notify you immediately.
The 7-Day Grace Period: You have 7 days to top up your account and settle the outstanding balance.
Temporary Freeze: If fees remain unpaid after 7 days, your account will be temporarily frozen. While frozen, you can still receive incoming payments, but outbound payments and card spending will be restricted.
Restoration: As soon as the outstanding balance is covered, your account will be automatically unfrozen and fully restored.