How do I set up additional balances for a Mollie account?

As you grow your business, you might want to manage different revenue streams with your Mollie account. To do so, you can create additional balances. 

By using additional balances, you can: 

• View all incoming payments and payouts for each business activity separately
• Customise payout settings for each balance
• Connect each balance to a bank account of your choice
• Generate separate reports for each balance to simplify your accounting process

Some examples of different business activities and sales channels are: 

• You sell in multiple countries, for example in the Netherlands and Belgium. You can now set up a balance for your sales in each country.
• You sell both online and in-person. You can set up a balance for your terminal sales and another for ecommerce sales. For terminals, you can set up a balance per store.
• You sell different products via different webshops. For each webshop you can create a separate balance*.
• You have a business with multiple sub-businesses and use a different balance for each one*.

*You can only create additional balances for business activities registered under the same business registration number. If you have businesses registered with different business registration numbers, you will need to create a separate Mollie account for them.

Setting up an additional balance

Select a profile and create a new balance

Balances are linked to a profile, so you may need to add a new profile or change an existing one to create an additional balance.

1. In your Mollie Dashboard, click on your organisation name in the top left corner
2. Go to Organisation settings > Profiles
   • If you have 1 profile:
     • Create a new profile by clicking +Create profile 
     • Under Registered trade name, it is recommended to provide a name that distincts from your other profile and aligns with your balance’s purpose. Keep in mind that your customer might encounter this name.
   • If you have >1 profile:
     • Create a new profile by clicking +Create profile or select an existing profile.
     • Under Registered trade name, it is recommended to provide a name that distincts from your other profiles and aligns with your balance’s purpose. Keep in mind that your customer might encounter this name.
3. Under Linked balance, select +Add balance from the drop down menu.
4. Give the new balance a name and click Add.
5. Click Save.

Add a bank account to a new balance

1. In the menu bar (on top), go to Balances and click on your new balance.
2. Click on Select a bank account.
3. In the drop-down, select an existing bank account or follow the steps to add a new bank account. Note: if you add a new bank account, we will verify the details you provided before you can receive payouts on this account. 

Set up the new API key

To start receiving payments to your new balance, you need to connect your website or sales channel to your Mollie account with a new API key.

1. In the menu bar (on top), go to Balances and click on your new balance.
2. Click on Use your API key.
3. You can find an API key per profile (including newly added ones) to connect your new balance to your webshop or POS terminal. 

Do you currently have >1 Mollie account or >1 profile? You can find help on how to adopt new balances here. 

Can I create additional balances in a foreign currency?

At this time, you can only add balances with a EUR currency.