Mimo Balance is being replaced by Mimo Wallet. Balance accounts provided by Modulr Finance Limited will close on 1 May 2026 and will be replaced by Mimo Wallet, provided by Airwallex (UK) Limited. Our aim is to keep the transition smooth so your clients can continue processing payments without interruption.
Who is affected?
Only organisations that currently use, or have previously used, a Mimo Balance account. If a client already uses Wallets only, no additional setup is required.
What you need to do
The required action depends on each client’s current setup:
A) Clients using Balance only (no Wallet yet)
A one-time Wallet setup is required in-app.
No cost for your firm or the client
Can be completed together with the client
Final sign-off is completed by a director (including liveness check)
Read: How to complete Wallet setup for a client [link].
B) Client already has a Wallet
You’ll need to:
Move any remaining funds out of Balance before 1 May 2026
Ensure future payments are processed from the Wallet
Read: How to move funds from Balance [link].
What happens if no action is taken?
If the Wallet setup isn’t completed by 1 May 2026 for clients who still rely on Balance, they won’t be able to process payments in Mimo. Any remaining funds will be safeguarded by Modulr and you'll need to contact us directly to arrange for their release.
Why we’re making this change
Mimo Wallet supports improved international payment capabilities, including payouts in 50+ currencies and the ability to hold funds in GBP, EUR, and USD.
Need help?
If you’d like a hand reviewing which clients need what, contact us via by sending a message in-app or reach our support team here: [link].