With wallets you can set aside funds for specific individuals, projects, and teams and keep complete control of your budgets.
In Soldo, there are 4 types of wallet:
- Main wallet
- Company wallet
- User wallet
- Reserved wallet
Main wallet
This is your primary funding source. When you add money to Soldo from your company’s bank account, it’s deposited into your main wallet. You can transfer money from the main wallet to users, cards, and other wallets as needed. It is the only wallet that can receive funds from an external source e.g. a bank account.
There’s one default main wallet for each active currency. Activate an additional currency to create a new main wallet (Premium or Enterprise plans only).
Any funds you deposit are protected with bank-level security protocols, and you can withdraw them at any time.
A main wallet can be used to fund multiple user and company cards and you can control spending with our flexible card rules and and spending limits.
If you prefer to set aside funds for specific teams, projects, or types of spend, you may decide to use the main wallet alongside one of the other wallet types available in Soldo (e.g. company wallets, user wallets, or reserved wallets).
Note: Main wallets cannot be deleted.
Company wallet
Company wallets allow you to set aside funds that multiple user and company cards can share. This means that you can seperate funds from your main wallet and only give users or cards access to the funds that you set aside.
You can create multiple company wallets (e.g. a company wallet for each department, project or spend type) and you can fund them by transferring money from the main wallet or even another company wallet.
User wallet
A user wallet allows you to set aside funds for a specific user. The wallet can be used as a funding source for a single user card. This gives you maximum control and visibility of the card's spending.
Reserved wallet
Reserved wallets set aside funds for a specific company card. Only one company card can access the funds in a reserved wallet.