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Settlements

How to find all your settlements information

Updated over a week ago

Real-time settlements information

We've provided you with many ways to track settlements. Our dashboard includes transaction details covering recent payments, settlements and payouts.

  • Need to find a particular settlement?

    • Search by settlement ID, amount paid, or customer name.

  • Want to narrow it down even further?

    • Filter by status or date.

  • And if that's not enough, you can always download your data and import it into a spreadsheet.

Minimum settlement amount

Settlement amounts must be at least AED 15 to be processed. Any outstanding settlements falling below AED 15 will be held in pending status until you have processed and received more payments.

When do I receive my settlements

Your settlement will automatically be transferred to your bank account within the settlement period that comes with the pricing plan that you’ve chosen.

Same business day settlement ⚡️

With same day settlements, you can access your funds quickly and keep your business operations running smoothly.

To enjoy the benefits of same-day settlements and expedite your cash flow, we highly recommend upgrading to our Premium plan for just AED 149 per month.

How do know when I have received a settlement?

Upon the completion of the automatic transfer of your settlement to your designated bank account, a notification will be sent to you via email.

Settlement schedules

Understanding settlement timelines and delays

Settlement delays can and will happen. To read more about settlement timelines and common reasons behind settlement delays, please click here.

Settlement schedules are calculated using the standard T+X system, “T” referring to the transaction date, and “+X” meaning “in addition to” X business days.

As such, the following settlement schedules will be translated as:

  • T+0: Settlement is initiated on the same business day, provided it is received before the cut-off time.

  • T+1: Settlement is initiated 1 business day after the transaction.

  • T+2: Settlement is initiated 2 business days after the transaction.

  • T+3: Settlement is initiated 3 business days after the transaction.

  • T+4: Settlement is initiated 4 business days after the transaction.

  • T+5: Settlement is initiated 5 business days after the transaction.

It is important to note that, for the same business day settlement schedule, payments received on weekends and public holidays can only be initiated the first business day after the payment was received.

Change settlement periods

Need faster settlement periods or want to revert back to the free 5-day settlement period? You can switch between settlement periods by logging into your Mamo Business dashboard and follow these steps:

  • From the left menu select Settings

  • Select Plan

  • Select 'Change' on 'Settlement period' card

Cut-off times for same business-day settlement schedules

Payments due for settlements are automatically processed and initiated daily within business hours. However, it is important to note that for a payment to be settled to your bank account on the same business day, it will need to be received before 3 PM, Gulf Standard Time (GST). Payments received after 3 PM GST will be credited to your bank account the next business day. This is due to bank processing times which vary from bank to bank and is not in Mamo’s control.

Download your full Settlements history

Mamo Business allows you to download and export all of your data in CSV format so that you can import it into your favorite accounting software, like Zoho Books, QuickBooks, FreshBooks, Xero, Sage, and more.

To do this, follow the instructions below:

  1. Login to your Dashboard

  2. Select Settlements from the left menu.

  3. Select Download button to the top-right.

The download should not take long. Once the download is complete, follow the instructions on your accounting software to import the data.

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