than a business
bank account

Yes, you can.

In fact, this is the best way of managing your business expenses. Request as many cards as you need for your employees and set limits on their cards. You can then track their spending in real-time and have full access to all transactions and expenditures on every card.

wamo QR codes redirect your customers to a payment link that supports Apple Pay, Mastercard and Visa card payments. That means accepting card payments without a card machine - your customers just need to scan your QR code, open the link, enter the amount and pay!

For customers paying via Revolut, N26 or Sparkasse, your QR code contains your unique wamo account IBAN to allow them to send you money directly bank-to-bank, no need to enter long account numbers. Supporting SEPA instant means there’s no need to wait till tomorrow either.

Keeping the account opening short and sweet is extremely important to us. It takes just 10 minutes to open an account, without any hassle or unnecessary paperwork.

You only need basic personal information, your ID and your company’s name and registration number (sole traders just need their ID). We’ve made sure opening a wamo business account is as fast and simple as it can be.

Yes, you can give different levels of access to your team members with role-based access under Team members, including Employee, Manager/Accountant or Director access. These can be adjusted or revoked at any time, with each type of access giving a different level of functionality:

• Employee: View incoming transactions to verify and accept payments with a digital QR code. The account balance is not visible.
• Manager & Accountant: In addition to Employee access, team members and beneficiaries can be edited, account balance is visible and transaction reports can be generated. Does not allow money to be transferred.
• Director: Full access, including the ability to make transfers from the account.

To invite someone, navigate to Team members and Add team member. Tap the level of access to give them and fill out their details. They will receive an email invite to sign themselves up. We recommend that they download the mobile application to get the most out of wamo business.

You can give your accountant Manager & Accountant access to allow them to extract transaction reports and save yourself the time doing this.

They will only be able to view sub accounts you give them access to and will not be able to make transfers from these accounts.

There are lots of advantages to using sub accounts. Here are just a few:

1. 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.
2. Organise 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 be ready.
3. 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 exchange EUR and GBP in your wamo account by sending an internal transfer between sub-accounts. For example, to convert EUR to GBP, you can make a transfer from a EUR sub-account to a GBP sub-account.

Additionally, we support the G10 currencies for outbound transfers, meaning you can send money to an account that is in one of the following currencies: EUR, GBP, USD, AUD, CAD, JPY, NZD, NOK, SEK, CHF.

At the moment you can only receive inbound transfers in EUR or GBP.

As a small business the costs involved in taking card payments can build up. QR code payments remove the need for investing in a POS device or integrating a new system in order to do business. They are also significantly more affordable than the average card payments.