Wamo review
Updated September 28, 2026 · VaultCue Editorial Team · Facts checked September 26, 2026
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Our verdict
Wamo suits owners and freelancers who want a single euro account for several currencies, with a monthly fee of €0 across 22 currencies. Money movement is the cost to watch, since transfer fees run EUR 0.99 per local transfer (Freemium plan) on the Freemium plan.
Key facts
- Best for
- A free euro account for businesses and freelancers who invoice in several currencies and take local payments.
- Monthly fee
- €0↗
- Deposit protection
- EU DGS up to EUR 100,000↗
- Currencies
- 22↗
- Local account details
- IBAN↗
- Free ATM withdrawals
- €0↗
- Transfer fee
- EUR 0.99 per local transfer (Freemium plan)↗
- Legal entity
- Wamo Solutions Oy↗
- Headquarters
- Finland↗
- Support channels
- Help-centre, Email, Phone↗
- Audience
- Business, Freelancers
- Pricing model
- No monthly fee
- Features
- Digital-only
- Official website
- wamo.io
Money transfer
- Delivery time
- SEPA Instant Credit Transfer where possible, otherwise SEPA Credit Transfer; inbound credit can take up to 3 business days↗
- Payout methods
- Bank, Card↗
- Fee to send 1,000
- €0.99↗
Facts checked September 26, 2026, 4 sources
Apps and profiles
- Get the app
- App StoreGoogle Play
Pros and cons
Pros
- Balances sit under EU DGS up to EUR 100,000, so the cover comes from an EU scheme rather than a promise from the provider.
- The currency list runs to 22, and the everyday account median is 9, so a typical rival covers less.
- Payments land on local iban details and payouts go to bank and card, covering both bank and card.
- Support reaches help centre, email and phone, so a phone line sits alongside email and a help centre.
Cons
- Transfer fees run EUR 0.99 per local transfer (Freemium plan) on the Freemium plan, so frequent payouts to clients add up quickly.
- It is a digital only account, so branches and cash handling sit with another provider.
- The currency list stops at 22, short of Skrill at 47 and Paysera at 30.
Who it suits
- The business and freelancer users Wamo is built for: owners and freelancers who invoice across currencies.
- Anyone paid on local iban details and drawing down to a bank account or card.
- People who want to run the whole account digitally and avoid a monthly charge.
Who should look elsewhere
- Skrill and Paysera users who need a longer currency list: 47 and 30 against 22.
- PayPal Colombia users paying $0 a month, since Wamo charges the same.
- Skrill users who move money often, because transfer fees run EUR 0.99 per local transfer (Freemium plan) on each local transfer.
Fees and FX
Wamo charges a monthly fee of €0 and follows a no monthly fee model. The cost that matters sits on money movement, not on holding the account: transfer fees run EUR 0.99 per local transfer (Freemium plan), the listed Freemium plan price. Anyone invoicing clients in another currency should read that line first.
How Wamo compares
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9.2 vs 9.0Skrill covers 47 currencies, more than the 22 on offer here.
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9.2 vs 9.0
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9.2 vs 8.1- 9.2 vs 8.1
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9.2 vs 8.0
9.2 vs 8.0
9.2 vs 9.1
Where Wamo is available
- Available
- Austria, Belgium, Bulgaria, Croatia, Cyprus, Czechia, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, United Kingdom
- Licence in Finland
- Financial Supervisory Authority (FIN-FSA), checked September 26, 2026
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
Does Wamo charge a monthly fee?+
A monthly fee of €0 means holding the account costs nothing in monthly terms, and the pricing model is no monthly fee. The cost sits on movement instead: transfer fees run EUR 0.99 per local transfer (Freemium plan) on the Freemium plan, so clients paying you abroad still need reading the tariff.
Is my money protected?+
Deposits sit under EU DGS up to EUR 100,000. Wamo runs as Wamo Solutions Oy in FI and is supervised by the Financial Supervisory Authority (FIN-FSA), so the cover comes from an EU scheme rather than from the company itself.
How many currencies can I hold?+
The account covers 22 currencies, and the everyday account median is 9, so Wamo sits above the typical figure. Skrill lists 47 and Paysera 30, so the gap closes there if a longer list matters.
Can my clients pay me with local details?+
Yes. Wamo issues local iban details, so clients can pay using standard euro area details rather than an overseas format. Payouts go to bank and card, which covers both a bank account and a card for drawings.
How long do incoming payments take?+
Inbound money arrives over SEPA, using an instant credit transfer where possible and a standard credit transfer as the fallback, so credit can take a few business days to land. Plan payouts around that wait if a client pays late in the week.
How do I get help?+
Support runs through help centre, email and phone, so a phone line, an email address and a help centre are all available. The service is digital only, so most of the day to day work happens inside the app rather than in a branch.
Who is Wamo built for?+
The stated audience is business and freelancer, and the account is shaped around euro invoicing and holding several currencies together. Owners and freelancers who take payment on local iban details and pay out to bank and card fit that design.
Sources
- wamo.io checked September 26, 2026
Backs: Audience
“Companies: For start-ups, scale-ups, enterprises, and borderless businesses of all sizes. Self-employed: Account for freelancers, sole traders and cross-border operators.”
- wamo.io/about-us checked September 26, 2026
Backs: Features
“We're a branchless business with offices positioned in the hustle bustle of key European centres.”
- wamo.io/currency-exchange checked September 26, 2026
Backs: Currencies
“Pay and get paid in 22 local currencies”
- wamo.io/partner-program checked September 26, 2026
Backs: Support channels
“Prefer email? Contact us at support@wamo.io; [Help center](https://help.wamo.io/en/)”
- wamo.io/pricing checked September 26, 2026
Backs: Free ATM withdrawals, Local account details, Pricing model, Monthly fee, Transfer fee, Fee to send 1,000
“Free monthly ATM withdrawal - Freemium: 2.19% per transaction thereafter”
- wamo.io/terms-conditions/eu/general-terms checked September 26, 2026
Backs: Delivery time, Deposit protection, Headquarters, Legal entity, Payout methods, Licences
“Regarding SEPA Transfers, these will be automatically processed as inbound and outbound SEPA payments via SEPA Instant Credit Transfers where possible. In the event that such payments cannot be...”
Compiled from 6 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Licence type, Currency conversion fee.
Related by the facts
Guides
Wamo
A free euro account for businesses and freelancers who invoice in several currencies and take local payments.