# Wallets

> Store funds in Moov wallets, check balances and transactions, fund or cash out a wallet, and automate settlement with sweeps.

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A Moov wallet holds an account's funds inside Moov. Every transfer that collects payments, funds payouts, or cashes out to a bank account moves money into or out of a wallet.

Moov creates a default wallet and its `moov-wallet` payment method when an account's `wallet.balance` [capability](/guides/accounts/capabilities/reference/index.md) is enabled. Accounts approved for any `send-funds` or `collect-funds` capability get `wallet.balance` automatically. Start with [balance](/guides/wallets/balance/index.md), then see [fund a wallet](/guides/wallets/funding/index.md) and [cash out a wallet](/guides/wallets/cash-out/index.md) for timing by rail.

## Wallet types

| Type                            | What it's for                                                                                                           | Created by                                                                            |
|---------------------------------|-------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------|
| Default (`walletType: default`) | Every account's main wallet. It can't be closed.                                                                        | Moov, when `wallet.balance` is enabled                                                |
| General (`walletType: general`) | Up to 10 more wallets per account, to separate funds by purpose, such as customer payments, vendor payouts, or expenses | You, with the create wallet [endpoint](/api/sources/wallets/create/index.md) or the Dashboard |
| Card issuing                    | Funds [issued cards](/guides/issue-cards/index.md); fund it from another wallet                                                 | Moov, when `card-issuing` is enabled                                                  |

Each wallet has its own balance, transactions, `moov-wallet` payment method, and [sweep](/guides/wallets/sweeps/index.md), so you can settle each one to a different bank account. Fees, refunds, disputes, and reversals are taken from the wallet involved in the original transaction; for a bank-to-bank transfer without a wallet payment method, they're taken from the default wallet. Depending on your fee plan, each general wallet you create might incur a fee. To create, rename, or close wallets, see [manage wallets](/guides/wallets/balance/index.md#manage-wallets).