Understanding Your Balances
When using GoVeloox, you’ll notice two types of balances: your
Wallet Balance and your
Bank Account Balance. While they may sound similar, they serve very different purposes. Understanding the difference is key to managing your payments and earnings smoothly on the platform.
- What is Wallet Balance?
The
Wallet Balance is the money stored
inside the GoVeloox app.
- For Customers (Senders):
This is the amount you fund into your GoVeloox wallet to pay for deliveries. Every time you request a delivery, the fee is deducted from your wallet balance automatically.
- For Riders (Courier Partners):
After each completed delivery, your earnings are credited to your GoVeloox wallet. You can see this balance grow in real time under the Wallet section of the app.
Think of the wallet as your
GoVeloox spending and earning account.
- What is Bank Account Balance?
Your
Bank Account Balance is the money stored in your
personal bank account outside GoVeloox.
- Customers: You move money from your bank account into your GoVeloox wallet to fund deliveries.
- Riders: You transfer money from your GoVeloox wallet into your bank account when you want to withdraw your earnings.
This is your
regular bank balance that you can access outside the app.
- How They Work Together
Here’s how the flow works for both customers and riders:
- Customers:
Bank Account → Fund Wallet → Pay for Deliveries
- Riders:
Complete Deliveries → Earnings Credited to Wallet → Withdraw to Bank Account
This separation ensures deliveries are
instant and cashless, without waiting for external bank confirmations.
- Why the Separation Matters
GoVeloox uses this system to make transactions faster, safer, and more transparent.
- Speed: Wallet transactions are processed instantly inside the app.
- Transparency: Every payment or earning is recorded with receipts.
- Security: Funds in your wallet are separate from your personal bank account, reducing risk.
- Convenience: Customers don’t have to worry about carrying cash, and riders don’t chase after payments.
- Common Misunderstandings
- “I topped up my wallet but don’t see the money in my bank.”
→ Wallet top-ups stay inside the GoVeloox app until you withdraw them.
- “I delivered an order but didn’t get paid in cash.”
→ Riders are paid digitally to their wallet, not directly in cash. You must transfer funds to your bank to cash out.
- “Why can’t I pay directly from my bank?”
→ Wallet payments make sure deliveries are instant and don’t fail due to banking delays.
- Security and Transparency
GoVeloox ensures wallet and bank interactions are safe and reliable:
- PIN-protected transactions.
- Unique virtual account numbers for every customer.
- Real-time balance updates after funding or withdrawal.
Complete transaction history available under
Wallet → Transactions.