Sub-accounts are individual accounts that sit within your overall wamo business account. You can create multiple sub-accounts at no cost with no additional paperwork or application needed.
Why do I need sub-accounts?
Every sub-account has its own IBAN, so you can choose who you share which sub-account with and generate a new IBAN when you like.
You can link cards to each sub-account you create, enabling you to allocate budgets to team cards or have a designated card expense account.
Organize your account into different needs. You could have a sub-account reserved for tax payments or for wages, which means that when it comes time to pay the bills, you’ll have the funds ready.
You can also generate separate statements for each sub-account.
Can I link a card to a specific sub-account?
Yes, when creating a card you can connect it to a certain account. Here’s how:
Navigate to your Home dashboard
Go to the Cards tab on the left-hand side of your desktop or the bottom right on the mobile app
Click or tap + Add card and follow the on-screen instructions
Note: For security reasons, you cannot change the card’s account once the card has been ordered or created.
Why is this useful?
Sub-accounts help you budget better and organize your finances much more easily.
For example, if you want to get a card for one of your team members, you can link it to a sub-account they have access to. This enables you to generate an expense report for that card by generating an account statement for that designated sub-account.
How do I delete a sub-account?
To delete one of your accounts, please make sure that you have withdrawn all the funds from the sub-account you wish to delete. Once the balance is zero, contact our support team at support@wamo.io or through the in-app chat to complete the deletion process.