Xolo Go business account (IBAN)
Xolo provides you with a dedicated business account for business transactions (IBAN). The IBAN is provided with your Xolo Go account when you submit your first project offer or invoice to the customer. You will find a dedicated IBAN in self service under your profile.
Receiving payments from customers
Your customers will pay for services provided to the Xolo Go business account. You need the business account (IBAN number) when issuing and sending your first invoice to the customer.
The IBAN number of your business account is added to the invoice automatically. Xolo accepts funds to Xolo Go business account based on invoices issued via Xolo Go.
Parking your income
Xolo Go can support you in keeping the money on the Go business account for a maximum period of 12 months. After 12 months Xolo will ask you to Withdraw the money.
Please note that Xolo business account cannot be used for personal transactions or keeping your personal funds.
You can initiate outbound transfers by submitting business expenses or withdrawing money for personal use. The transfers will be reviewed and executed by Xolo.
Withdrawing money for personal use
In order to withdraw money for personal use, you must have a personal bank account. If you do not have one, you can get one from Transferwise, Revolut, Paysera or any other similar services provider. Xolo Go will be initially open for users who have a personal bank account in the European SEPA area.