As a team we set time aside to think about what it really means for us to help small businesses thrive. We do this because the idea for wamo was born out of our own frustrations around the amount of money that is lost to high fees, hidden fees and unnecessary charges that are built into the traditional banking system, and time that’s lost too. Time that small businesses can’t afford to lose trying to jump through all the hoops of opening a business bank account in the first place. Time lost to gathering paperwork and filling out forms and waiting. Time lost to waiting for money to arrive in your account when, as a small business, you might be counting every penny initially to make it safely through the month and it’s dangerous to rely on pending payments. Time lost to initiating and chasing invoices from other businesses. Money and time. Those old chestnuts.
Meet with wamo
So, when we talk about a desire to champion small businesses and play as big a part as possible in helping them thrive - this has to mean more than a tagline. Which is why we set aside time to make sure we’re doing that. This is the reason that payments between wamo business accounts are free and always will be and that the money sent or taken is instantly reflected in your wamo dashboard and, wherever possible transfers are instant. We want to create a p2p experience for b2b finance management. Personal accounts have come a long way in terms of UX, but for business accounts - not so much. At all.
This is why we’ve made sure that to pay another wamo business, all you need to do is either search them in your contacts and send (like sending a text) or:
- Tap on request or send money
- Type the business name
- Type the amount
- Continue to send or request.
Which means that the more businesses within networks who have wamo accounts, the less money and time spent on managing this area of business. These communities of businesses - whether community by location or business type - also allow us to come to understand communities as they have grown organically through wamo networking and so allow us to offer incentives, advice and information that is truly relevant.
That’s our goal. You’ll notice that the title of this blog announced a referral programme for May - so let’s get to that then!
In order to introduce wamo to more businesses and to start building into communities we are offering current wamo account holders
£100/€100 for every company you refer and we’re giving your referee the same amount for opening an account. £50/€50 for every sole trader, freelancer you refer and they get the same when they open their wamo account. If you’re not a wamo account holder yet, we look forward to you joining in May to start taking part in this programme. We have some ideas we can’t wait to get to for the communities that have begun to emerge amongst our account holders both in Europe and the UK, and we’ll let you know all about these in the coming months.
It takes around 10 minutes to open a wamo account and you can start taking payments instantly. Download the wamo append sign-up to start referring.
Feel free to get in touch to see how we might make the difference for your business, we’re always ready to chat.