Do you remember the days you waited in line at banks to withdraw and deposit money? Sending money would become pure torture. Luckily, the banking concept has also evolved to a different dimension with the change and development of technology.
We started to handle my transactions quite easily from financial applications (mobile apps and software). Among them, a fintech company works as an alternative for banks called wamo. In this article we want to introduce the readers to this financial platform, discussing what wamo is and what kind of service it provides.
What is wamo?
wamo, the fintech company, operates as an alternative to banking institutions, allowing businesses to register business accounts, transfer and receive money, make payments, and distribute debit cards. Various advantages are combined on wamo.io under one roof. Almost any operation you want to do with funds can be done from the wamo app without signing out.
The most exciting feature of the platform is that account users may also manage the team’s finances via the app, including issuing cards, making budgets, and transferring money with currency alternatives.
What Kinds of Services Does wamo Offer?
Most of the world’s nations make obtaining a business bank account difficult and time-consuming. wamo offers services for businesses. Account setup takes a few minutes. Here are the advantages for businesses.
- Teams benefit greatly from wamo since account owners have cards and can distribute and load cards for members of the team.
- The business owners can manage resources from the app, establish budgets, and see project-specific spending.
- Easy account management where they can monitor account activities on the dashboard, add team members with different access levels, and transfer money across sub-accounts.
- Account owners may manage submitted receipts and track and organize their spending.
- wamo transforms into an accounting platform that offers costs and transaction analysis on demand or at predetermined intervals by connecting a chosen accounting program.
How Does wamo Function?
Regardless of where you reside on the globe, if your company is registered in the EU or the UK, you can quickly create a wamo account and begin business hassle-free. For every kind of business, there is a wamo subscription deal available.
You may quickly and easily register for wamo business on the web or by downloading the app. After you download the app, you can share basic company information. As a third step, you need to verify your identity. That’s all, and wamo handles the rest.
Is wamo Safe for My Business?
wamo is an initiative that offers highly reliable e-money services. The fintech company collects only necessary information from customers.
They need your contact details, such as name, telephone number, email address, and address. As well as basic information about the business. They collect financial data like bank account and billing address details. Also, wamo asks for location, work-related, and communications data.
In order to prevent the unintended loss, modification, disclosure, or use of your private details, they have set up essential security measures. They also restrict access to your private information to representatives, personnel, contractors, as well as other third-party services.
100% of the funds you have in your wamo account are safeguarded in specialty banks with necessary licenses.
Is It Practical to Open a Sub-account with wamo?
Yes, definitely! If you own a large or understaffed company and need help with accounts, you can get organized with wamo. Thanks to the financial platform, you have the flexibility to open a sub-account. You can open as many sub-accounts as you need in your business. No limit!
Your business operations will operate more smoothly thanks to the sub-accounts’ improved account structure. You can arrange your money and cash flow in different currencies, associated with a business partner, a project, costs, or a team member. You can obtain a report or statement for each sub-account if you require one.
The account owner can connect a card to any of the sub-accounts and limit its use, making it simple to manage costs. Thanks to those sub-accounts, the owner grants certain users restricted access to a sub-account.
Are wamo’s Virtual and Physical Visa Debit Cards Helpful to My Company’s Operations?
Thanks to wamo, you can have multiple virtual and debit cards at the same time. You can easily organize and monitor each card. You can strengthen your team with high spending limits. It is possible to link cards to different accounts securely.
You can get your virtual cards instantly on wamo’s app. You can control the limit and make online payments effortlessly without disrupting the workflow. Linking your virtual cards to EU and GB IBANs is extremely simple.
With team cards connected to your business account or sub-account, you can acquire up to 50 physical and virtual Visa debit cards by default.
From your wamo dashboard, set individual daily, weekly, or monthly spending caps for each card. View, top-up, and set customized limits for all virtual and physical cards linked to the owner’s business account and sub-accounts.
You are in control! Any card may be frozen and unfrozen with a single tap, and virtual cards can be deleted at any time. You have an additional layer of protection thanks to virtual business cards. Keeping your company’s cash secure is simpler with wamo!
Is Wamo a Good Option for Payment Methods?
Yes, wamo is one of the best for various payment methods. You can make international and local money transfers easily and securely.
Send funds in GBP, or EUR. Thanks to currency conversion, you can pay the ECB mid-rate plus 0.50% for international payments, and without one, you pay a set rate of £14.99. wamo charges are consistently reasonable and open.
When you create a wamo business bank account and whenever you add a sub-account, decide whether to use a EUR or GBP IBAN. wamo is here to make international business simpler.
Add payee information or select from your contacts to conduct fast local transfers, and money will start transferring in just a few clicks.
Make local payments quickly through your business account on wamo thanks to UK Faster Payments or SEPA in the EU. Create statements for funds as needed and maintain track of the progress of all transfers.
What about wamo’s Plan Prices?
wamo memberships are made to fit your needs as they develop and expand your business. You may switch your plan when you become more extensive and can choose between €19.99 and €99.99 per month.
The Starter pack is €19.99 and is suitable for micro or small businesses. You may need to pay to use wamo’s different services after creating an account.
The Grow pack is €49.99, the most popular choice among users. It is best for growing businesses. Some services of wamo are free for business owners, and also, they can benefit from the other services at fair prices.
The Scale pack is €99.99, which is best for larger businesses. Almost any service of wamo is free for the users.
Choose the most suitable one for your business and follow your progress.
Last But Not Least
People searching for quick, inexpensive international payments and innovative currency management should check out wamo.
Business owners may move money across multiple currencies and international destinations using borderless accounts. Your transactions become simple, quick, and straightforward with lower costs.