Balance accounts, provided by Modulr Finance Limited, will close on 1 May 2026. They are being replaced by Mimo Wallet, provided by Airwallex (UK) Limited. Our aim is to make the transition as smooth as possible so you can continue processing payments without interruption.
Who is affected?
Only organisations that currently use a Mimo Balance account.
What you need to do
If you’re using Balance only (no Wallet set up yet), you’ll need to complete a one-time Wallet setup in the app.
No cost for you
You can complete the steps together with colleagues in your company (progress is saved)
Final sign-off is completed by a director, including a quick liveness check (ID + selfie)
Read: How to complete Wallet setup → [link]
What happens if no action is taken?
If you don’t complete the Wallet setup by 1 May 2026, you 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 payments, including payouts in 50+ currencies and the ability to hold funds in GBP, EUR, and USD.
Need help?
Message us in-app or contact our support team here: [link].