Prefer to follow along in the platform?
You can launch the interactive step-by-step guide here → [product tour]
This guide is for you if you’re currently using Mimo Balance (and don’t have a Wallet set up yet). You’ll need to complete a one-time Wallet setup in the app. There is no cost (£0).
Collaborating on Wallet setup
You can complete the Wallet setup together with others in your business. You can start now 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
Log into Mimo
Go to Wallets (left-hand menu)
Click Complete setup to get started
If you can’t see this option or it looks different on your side, message us in-app.
Step 2: Complete the application
The setup is guided in-app and 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
Once submitted, the applicant director must complete the final approval, 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
Choose the 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 you still have 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 your regular bank account instead?
Go to Balance → Manage funds → Withdrawal and enter your bank details.
Need help?
Message us in-app, reply to this email, or book a walkthrough here: [link]