Wallets

Your PayMongo Wallet is where your funds are stored before being paid out to your bank account. Manage your balances, track transactions, and transfer funds.

Dashboard Overview

The Wallets dashboard displays:

Field	Description
Total Balance	Sum of all available funds
Available Balance	Funds available for payout or transfer

Wallet Types

Wallet	Purpose
Closed Loop	Starter wallet to be used for transactions to & from PayMongo wallets
Default	Business verified wallet to be used for transactionsto supported bank accounts
Upgraded	Business verified wallet with upgraded limits for large number of transactions

Wallet Actions

Top Up

Add funds to your wallet:

Click "Top Up"
Enter the amount
Choose the funding source
Confirm the transaction

Send

Transfer funds to another account:

Click "Send"
Enter recipient details
Specify the amount
Add a note (optional)
Confirm the transfer

Transfer Between Wallets

Move funds between your wallets:

Click "Transfer"
Select source wallet
Select destination wallet
Enter amount
Confirm

Transaction History

View all wallet transactions:

Column	Description
Date	Transaction date and time
Type	Credit, Debit, Transfer
Description	Transaction details
Amount	Transaction amount
Balance	Running balance

Transaction Types

Type	Description
Credit	Incoming funds (payments received)
Debit	Outgoing funds (payouts, transfers)
Fee	PayMongo processing fees

Balance Details

Available Balance

Funds you can use immediately for:

Payouts to your bank
Sending to other accounts
Refunds to customers

Wallet Settings

Configure your wallet preferences:

Setting	Description
Auto-payout	Automatically pay out to bank
Payout schedule	Set payout frequency
Minimum balance	Keep minimum funds in wallet

Feel free to reach out to [email protected] if you have questions about wallets!