Finances will be the first page you see every time you log in to your account. This page and all its actions is visible to users with the “Owner” role.
From here, you can take the following actions:
Transfer between accounts: transfer funds between your different accounts such as your payments account, debit card account, or cashback rewards.
Initiate a settlement: Manually transfer available funds to your bank account. You can also access your “upcoming funds”early for a small fee
Create a payout: save on bank fees and disburse high-volume payouts to suppliers and vendors straight from your dashboard
Manage your preferences: Set how and when your money moves between accounts or to your bank.
View all your Accounts, Settlements, and Payouts: keep track of your account balances with summaries of all your accounts, information about past and upcoming settlements, and payouts.
🍿 Read on or watch Tola explain everything:
Transfer between accounts
Freely transfer your funds between your payments account, your debit card account, or your cashback rewards.
Some accounts are bi-directional where money can move both ways, and some only one way:
AED Payments account: you can transfer funds to and from this account (e.g. transfer AED 1,000 from your Payments account to your Debit card account, or transfer AED 1,000 from your Debit card account back to your Payments account).
Debit card account: you can transfer funds to and from this account. Transferring to this account makes the funds available on your card to use for corporate spending.
Cashback rewards account: you can’t transfer funds into this account. Cashback rewards are automatically added to this account based on your spending. You can, however, transfer funds from your Cashback rewards account to either your Payments or Debit card account. By default, anyone who’s signed up for our corporate cards product also has a cashback rewards account.
This action is visible to merchants that signed up for all Mamo products, or the Mamo card. It’s not visible to merchants who use Mamo for Payments only, since there’s only one account (AED Payments account).
Initiate a settlement
Manually transfer funds from your “available balance” in your Payments account to your linked bank account. You can also access your “upcoming funds” early for a small fee. You can initiate an early settlement as a one-off if you need funds quickly.
Specify the amount you want to transfer to your bank account
Enter the OTP sent to your registered number
Confirm to initiate the settlement to your bank account
Settlements can only be transferred to your linked business bank account, and not to another bank account.
The ability to initiate a settlement is visible only to merchants who are signed up for Payments, and on manual settlements (configured in Preferences). If you’re on automated settlements, then your settlements are automatically created on a rolling daily basis, so the button to initiate a settlement manually won’t be visible.
Create a payout
A payout is a bank transfer that we initiate on your behalf to pay your suppliers, vendors, contractors, or any other individual or business you need to pay. You can create a payout using your “available balance” in your AED Payments account.
Create a manual payout
Specify the amount, recipient IBAN and contact details, as well as reason for the transfer, and you’re all set. All payouts must be verified via OTP confirmation to your registered phone number.
Create a bulk payout
You can also create bulk Payouts via CSV file uploads. To do this, please ensure your CSV file has payouts that meet these criteria:
Payout amount is in AED
Minimum amount per payout is AED 10
Your uploaded file follows the correct format
The total payout amount doesn't exceed your current account balance
All linked bank accounts are based in the United Arab Emirates
All bulk payouts must be verified via OTP confirmation to your registered phone number. Once payouts are processed they cannot be canceled or reversed.
Once a payout is processed it cannot be canceled or reversed.
Payouts is visible only to merchants that use Mamo to collect payments.
Manage your preferences
We aim to provide complete control around how quickly your funds become available and where you want them to go. Preferences allow you to manage the flow of funds that arrive through your Mamo payment channels: you decide how and when your money moves between your accounts or to your bank.
Here’s what you can do:
Choose your schedule
Your schedule defines the time between a payment being successfully made to you and when you can access those funds. Decide when your funds become available, your options are:
5 business days (standard and free)
3 business days (you’ll be charged an early access fee)
same day (you’ll be charged an early access fee)
Settle to your bank account
Here you choose how your funds move to your bank after it becomes available. You have 2 options here:
Manual: This keeps your funds in your Mamo balance, giving you the ability to manually handle exactly when and where your funds go. Ideal if you want to make a card top up, a few payouts or settle to your bank account, this option gives you the flexibility to decide when any of these actions are executed.
Scheduled: Funds are automatically moved to your bank account based on your chosen schedule, without you having to lift a finger.
If you are on automatic scheduled settlements, your available balance will always appear as 0 after the funds have been settled to your bank account. Consider enabling auto top-up if you want to send funds to your Mamo Card.
Auto top-up your card
If you use Mamo to collect payments and Mamo Card for spending, you can set up an automated, daily card top-up. This will help to ensure that your card account is always funded and you avoid unnecessary card declines due to insufficient funds.
Simply define the amount you want transferred every day, and voila!
If your balance is ever below the amount you defined, we’ll transfer what’s available.
If you’re on automatic scheduled settlements, top-up will happen first, and the remainder of your balance will go to your bank account.
Next:
Learn more about the Accounts, Settlements, and Payouts tabs on the Finances page.