Compare Accounts

Choosing the right account type is crucial for effective financial management. In this section, we compare the features and benefits of Standard Accounts and Master & Wallet Accounts. Understanding these differences will help you select the best option to suit your business needs, ensuring seamless operations and efficient fund management.

Understanding Account Types: Standard vs Master & Wallet Accounts

The illustration below highlights the key features and details of each account for comparison.

	Standard Account	Master Account	Wallet Account
Send payments	Yes	No	Yes
Receive payments	Yes	No	Yes - if the payment comes from a third-party institution, the payment reference must include the wallet's business reference.
Balance	Yes - unique IBAN per Standard account	Yes - unique IBAN per Master account	No - shared IBAN for all wallets under the same Master Account
Transaction visibility	Balance per account	Sum of all wallets’ balance	Balance per wallet
Default wallet - exceptional flows	All transactions under the account	Transactions for all wallets under the Master	All transactions per wallet
Default wallet - exceptional flows	N/A	N/A	Yes - all (externally) received payments not matched with a wallet business reference will go to the Default Wallet.