All outstanding fees are deducted from your Main Account. This happens whenever you incur a fee, such as every 30 days with your monthly subscription fee or by creating a card if you are on the Start plan (they're free on the Grow plan!).
You can find more information on what this means below.
What makes up outstanding fees?
Outstanding fees refer to any fees associated with using your account. These depend largely on your account plan and can include your:
Subscription plan fee (paid monthly)
ATM withdrawal fees
All local and international incoming and outgoing fees
What is my Main Account?
Once your wamo account has been opened you will have a Main Account by default. Your Main Account is marked with a star. You are able, however, to create several different sub accounts as you require for your business.
Your Main Account and other sub accounts are exactly the same in terms of functionality, but subscription fees are charged from your Main Account only.
Can I change my Main Account?
Yes. When you first open your wamo business account your Main Account will be the first account you have. However, once you have created sub accounts you can choose which account you want to function as your Main Account.
Do this by tapping on Switch accounts in your account:
Tap on Outstanding fees from Home
You’ll see your Main Account balance
Tap on Switch accounts and select which account you want to make your new Main Account
Fees will then be deducted from this Main Account.
What other payment methods can I use to pay fees?
Outstanding fees can only be deducted directly from your Main Account balance. However, you can add money to your account via the following payment methods:
Credit or debit card payment
Payment Request Link
Please ensure that your Main Account balance covers the total outstanding fees at any given time by adding money with one of the payment methods above.
What happens if I cannot pay my outstanding fees?
If we are unable to collect any outstanding fee from your account, we will notify you immediately so you can resolve it by adding money to your account.
We will follow up again after 3 days to remind you about your outstanding fees.
If you cannot pay in 7 days, your account will be temporarily frozen until you have managed to top up your account. This means that you will be able to continue to receive payments, but cannot make outbound payments. Once all outstanding fees are paid, your account will be unfrozen and you will be able to continue to use it as normal.