Wallets
A PayMongo Wallet holds your funds on the platform. Receive payment settlements automatically, top up and send money to any bank or e-wallet — all from one account.
Overview
A PayMongo Wallet holds your funds on the platform. Every time a customer pays you, the money settles into your Wallet. From there, you can send it to a bank account, release it as a payout to your own account, or hold it as working capital for future disbursements.
This section covers how Wallets work, what you can do with one, and how they connect to the rest of your money flow — whether you are a merchant receiving payments, a finance manager overseeing funds, or a developer building an integration. For step-by-step instructions, see Manage your balance or Send money.
Wallet types
PayMongo Wallets come in two dimensions: the currency they hold, and the account type that determines your transaction limits.
Currency
| Type | Currency | Availability |
|---|---|---|
| Fiat | PHP | Live |
| Multi-currency | Multiple fiat currencies | Coming soon |
| Crypto | USDC, USDT, etc. | Coming soon |
All new wallets are PHP fiat wallets. Multi-currency and crypto support will be announced separately.
Account type
Your wallet's account type controls your balance cap and transaction limits. Every new wallet starts as default and can be upgraded through the verification process.
| Type | Who it's for | Balance cap | Daily outward limit |
|---|---|---|---|
closed_loop | Platform and fintech integrations | ₱20,000 | ₱5,000 |
default | All new accounts | ₱25,000,000 | ₱1,000,000 |
upgraded | Verified accounts | ₱50,000,000 | ₱3,000,000 |
custom | Enterprise accounts | Configured directly by PayMongo | — |
Info
For exact balance caps and per-transaction limits by wallet type, contact [email protected].
To upgrade your wallet type, complete the verification steps in your Dashboard.
What you can do
- Receive payment settlements automatically — every accepted payment settles into your Wallet at the end of each payment cycle.
- Top up or receive money — transfer money from any bank or e-wallet directly to your Wallet's account number. For PHP accounts, use any Philippine registered bank or e-wallet.
- Send money — for PHP accounts, move money to any Philippine registered bank account or e-wallet via InstaPay (real-time) or PESONet (same or next banking day).
- Track every movement — your transaction history and ledger record every inbound and outbound change to your balance.
Wallet statuses
| Status | Meaning | What to do |
|---|---|---|
activated | Wallet is live — can send and receive money | No action needed |
deactivated | Initial state for all new wallets — accepted payments can still land, but manual top-ups and sending are unavailable until activated | Sign the Statement of Acceptance in your Dashboard to activate |
frozen | Wallet is suspended — cannot send or receive | Contact [email protected] |
Note:
deactivatedis the initial state for all new wallets. Signing the Statement of Acceptance in your Dashboard activates the wallet.
Related reading
- Manage your balance — how payments settle into your Wallet and how to top up manually.
- Send money — how to send funds to a bank account or e-wallet via InstaPay or PESONet.
- Key concepts — the mental model behind wallets, ledgers, and transfers.
- Disbursements — sending money to multiple recipients at scale.
Updated about 4 hours ago