Prefer to follow along in the platform?
You can launch the interactive step-by-step guide here → [product tour]
This guide applies to clients currently using Mimo Balance only (no Wallet yet).
A one-time Wallet setup is required in-app. There is no cost for your firm or the client.
Collaborating on Wallet setup
You can collaborate on the Wallet setup with the client or colleagues at your firm. You can start the setup and come back to it later - progress is saved automatically, and any authorised team member can pick up where it was left off.
Step 1: Start the Wallet setup
From the Practice dashboard:
Log into Mimo.
If you see a pop-up listing clients that require setup, click Complete setup.
Select a client from the list to begin.
If you don’t see the pop-up:
Select Complete setup on the Practice dashboard (above the client list).
From a client organisation:
If you know a specific client is still using Balance:
Open the client organisation.
Go to Wallets in the left-hand menu.
Select Complete setup.
Step 2: Complete the application
The setup is guided in-app and typically includes:
Company details
Directors
Ownership
Identity verification
Review and submit
Identity verification
ID will be required for:
The applicant director
Any beneficial owners (UBOs) holding 25% or more ownership
Once submitted, the applicant director must complete the final sign-off, including a liveness check (ID scan + selfie).
Review time and updates
Applications are typically reviewed within 48 hours. If any additional information is required, you’ll be notified in-app and via email.
After approval: next steps
1. Use Wallet details for new transfers
To view Wallet bank details:
Go to Wallets → Manage funds
Select GBP or EUR (USD can be added at no extra cost)
Choose transfer type/method
Use the displayed details for all future transfers into Mimo
2. Confirm reconciliation mappings
To ensure transactions reconcile correctly:
Go to Settings → Reconciliation
Set up account mappings for the Wallet accounts
3. Move any remaining funds from Balance
If the client still has funds in Balance and you’d like to move them to the Wallet:
Copy the Wallet bank details: Wallets → Manage funds
Withdraw from Balance using those details: Balance → Manage funds → Withdrawal
Prefer to withdraw funds back to the client’s regular bank account instead?
Go to Balance → Manage funds → Withdrawal and enter the bank details.
Need help?
Message us in-app, reply to this email, or book a walkthrough here: [link]