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PayMongo Wallet Overview

Understand how to activate your PayMongo Wallet and get to know its features

Updated yesterday

The PayMongo Wallet is a secure, all-in-one financial solution designed to give businesses more control and flexibility over their cash flow. This article provides an overview of what the PayMongo Wallet is, its benefits, associated limits, and how it can streamline your financial operations within the PayMongo ecosystem.


Prerequisites for Activating Your PayMongo Wallet

To activate and utilize your PayMongo Wallet, you need to:

  • Have an activated PayMongo merchant account.

  • Sign a Statement of Acceptance through your PayMongo Dashboard. This legally binding document activates the wallet feature for your account. Only authorized representatives of your business are permitted to sign this statement.


What is the PayMongo Wallet?

The PayMongo Wallet is a secure, integrated platform within your PayMongo account designed to manage your business's financial cash flows. It allows you to:

  • Store Funds: Hold cleared payments received from your customers directly within your PayMongo account.

  • Cash-in: Top up your wallet balance.

  • Send Money: Transfer funds from your wallet to any nominated bank account.

  • Monitor Activity: Access a centralized dashboard to track all your wallet transactions and activities in real-time.

Once activated and configured, payments received via the PayMongo Payment Gateway will be directed to your PayMongo Wallet according to the usual payout schedule. The wallet supports sending funds to multiple bank accounts, with a fee of PHP 10.00 for each InstaPay or PesoNet transaction.


PayMongo Wallet Types: Balance and Transaction Limits

PayMongo Wallets come in different types, each with specific balance and transaction limits to suit varying business needs. Your wallet type is determined during your account setup and verification.

Wallet Type

Balance Limit

Cash-in Transactions (Top-up, Payouts, Transfers In)

Cash-out Transactions (Withdrawal, Send Money, Batch Disbursements)

Elite Wallet

PHP 75,000,000

No daily limit, PHP 75,000,000 monthly limit

PHP 5,000,000 daily limit, No monthly limit

Enterprise Wallet

PHP 50,000,000

No daily limit, PHP 50,000,000 monthly limit

PHP 1,000,000 daily limit, No monthly limit

Business Wallet

PHP 40,000,000

No daily limit, PHP 40,000,000 monthly limit

PHP 500,000 daily limit, No monthly limit

Standard Wallet

PHP 15,000,000

No daily limit, PHP 15,000,000 monthly limit

PHP 250,000 daily limit, No monthly limit


Integrating with PayMongo Wallet via API

For businesses with advanced integration needs, PayMongo also supports Wallet functionalities via our API. This allows developers to programmatically manage wallet activities, such as sending money or querying balances, directly from your own systems.

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