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How does Mimo Flex work?
Patrick Ryan avatar
Written by Patrick Ryan
Updated yesterday

How is Mimo Flex repaid?

Your owed Mimo Flex amount will be automatically repaid through Direct Debit on the day the amount is due. You will be invited to set up Direct Debit before Flex is activated on your account. Any change in bank account needs to be notified so a new mandate can be set up. Mandates are managed through GoCardless.

When are the Mimo Flex fees due?

The Mimo Flex fees are charged 3-5 business days from the time Mimo Flex was used to settle a supplier invoice. If you settle more than one invoice with Mimo Flex on the same day, fees will be added and charged as a total.

Where can I see upcoming repayments and fee charges?

In the app, Accounts > Flex > Statements summarises upcoming charges to your account related to your Mimo Flex. If you click the statements, you can also see a breakdown of what each amount refers to.

How can I do that if I want to settle my Mimo Flex before the due date?

You can settle your owed Mimo Flex balance anytime by making a direct transfer to the bank account visible on your Flex Statement. Ensure to add the relevant reference, and for fast processing, email [email protected] once the payment has been made.

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