What happens if a payment can’t be processed?
To improve your payment experience in Mimo, we’ve introduced a feature that helps you catch and resolve payment failures caused by insufficient funds before they become permanent. This applies to both open banking payments, where failures can occur outside of Mimo’s direct control, and Mimo Balance payments, when there aren’t enough funds in your balance account.
How does it work?
Payment Alert Notification
If you’ve initiated or scheduled a payment that couldn’t be processed due to insufficient funds, you’ll receive an automated notification informing you of the issue. From the email, you can directly access the platform to review and resume the payment.
Resume the Payment
To resume the payment, go to Pay > Pending in the platform and select the payment. You have until midnight (UK time) on the same day to resume the pending payment. If it’s not resumed by then, the payment will permanently fail.
Make the Payment
Once you resume the payment, you can choose the payment method. We recommend topping up your Mimo Balance by transferring funds from your house bank, as it’s the most reliable option. However, you can also attempt to pay using your bank account (e.g., via open banking transfer). If you already have sufficient funds in your Mimo Balance, you can use them directly to cover the resumed payment.
Permanently Failed Payments
If the required funds are not received by midnight (UK time) on the day of the payment, the payment will permanently fail. Once a payment has failed, it cannot be resumed. You can initiate a new payment as follows:
Supplier Invoices: The related invoices will reappear in your inbox, allowing you to initiate a new payment. Schedule for same-day payment or choose a future date.
Payrolls: You will need to upload the same payroll file again to initiate a new payment. Schedule for same-day payment or choose a future date.
Why is this feature important?
This feature is especially valuable for users who prefer paying through their house bank via Mimo. While open banking is convenient, payment failures can sometimes occur outside of Mimo’s direct control. By addressing these issues early, we aim to reduce any inconvenience and ensure a smoother payment experience.
What should I do if I experience a payment failure?
If you encounter a payment failure, check the Pending tab on your inbox page to view your payment status. Follow the steps outlined above to resume the payment before the end of the day. For further assistance or questions, please reach out to our support team at [email protected].