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.
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.
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+3: Settlement is initiated 3 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
You can switch between settlement periods by visiting your Settings page.
Cut-off times for same business-day settlement schedules
Payments due for settlements are automatically processed and initiated daily within business hours.
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.
The download should not take long. Once the download is complete, follow the instructions on your accounting software to import the data.