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What is a PayMongo Wallet?
What is a PayMongo Wallet?

Store, cash-in, and send money to any bank account all in one place.

Pam avatar
Written by Pam
Updated over a week ago

The PayMongo Wallet is a secure way to store your money and a one-stop shop for all your financial cash flows that meet your business needs. 🌱

⚠️ The PayMongo wallet is only available as an early-access feature to selected merchants for now. We'll keep you posted for further updates on access to this feature! πŸ‘€

Here's a peak on the new PayMongo Wallet dashboard πŸ”

You can access and monitor all wallet activity in a single dashboard window.

How can I get a PayMongo Wallet? πŸ’³

  • Once selected for early access, you'll be able to view the Wallet page on the dashboard sidebar, and activate your wallet after signing the Statement of Acceptance - only 2 steps to activate your PayMongo Wallet with ease!

Access your Wallet dashboard via your PayMongo dashboard.

Then sign the Statement of Acceptance shown to get started!

⚠️ Note: Only authorized representatives can sign the statement of acceptance. In case of non-conformity, your PayMongo Wallet will be frozen.

Here's additional FAQs that you may want to take note of for this feature ✍️

I'm using the PayMongo Payment Gateway. How do I receive my payments?

  • Receiving customer payments still depends on the payment availability and your payout schedule. Learn more about payment availability

I'm using the PayMongo Payment Gateway. Where do I receive my payments?

  • After being issued a Wallet, payments will go directly to your PayMongo Wallet on your usual payout schedule.

Can I send funds to multiple bank accounts?

  • Yes, you can! Check this article for a step-by-step guide.

How much is every InstaPay or PesoNet transaction for PayMongo Wallets?

  • Each transaction or transfer for both InstaPay and PesoNet will have a fee of Php 10.00.

Why was my wallet frozen/Why can't I access my wallet?

Can I issue a wallet to our sub-merchants?

  • Yes, but this is only available via API integration for now. Kindly reach out to [email protected] to request configuration.

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